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Using Black-Scholes to determine an optimal funding term

Gay, Roger - In: Managerial Finance 37 (2011) October, pp. 985-994

Purpose – The purpose of this paper is to examine use of the Black-Scholes (BS) risky asset model to determine choice of optimal investment term in a reinvestment chain model. Design/methodology/approach – An extension of Tobin's separation theorem is used to establish a mean-variance...

Persistent link: https://www.econbiz.de/10010675800

Portfolio Choice with Uncertain Consumption Prices: a mean-variance approch

Berck, Peter; Cecchetti, Stephen G - Department of Agricultural and Resource Economics, … - 1980

This paper presents a mean-variance model of portfolio choice and asset pricing when the price of consumption goods as well as the return to assets is uncertain. The correlation of an assets return with purchases at expected prices is shown to reduce both the mean return and the variance of the...

Persistent link: https://www.econbiz.de/10010676475

An Equilibrium Approach to the Theory of Futures Markets

Berck, Peter; Cecchetti, Stephen G. - Department of Agricultural and Resource Economics, … - 1981

Persistent link: https://www.econbiz.de/10010676593

Portfolio Theory and the Demand for Futures: theory and the case of California cotton

Berck, Peter - Department of Agricultural and Resource Economics, … - 1980

Persistent link: https://www.econbiz.de/10010676596

Art Induced-Travel Studies Inducing Bad Investments?

Cervero, Robert - Institute for Transportation Studies (ITS), University … - 2003

Persistent link: https://www.econbiz.de/10010677222

Exit dynamics of start-up firms. Does profit matter?

Golombek, Rolf; Raknerud, Arvid - Statistisk Sentralbyrå, Government of Norway - 2012

While little attention has been paid to the role of profitability in the empirical literature on firm exit, we employ a detailed recently established database of Norwegian manufacturing firms to identify the extent to which profitability explains a firm's exit behavior. Some key characteristics...

Persistent link: https://www.econbiz.de/10010678284

Evaluating the EU ETS impacts on profits, investments and prices of the Italian electricity market

Bonenti, Francesca; Oggioni, Giorgia; Allevi, Elisabetta; … - In: Energy Policy 59 (2013) C, pp. 242-256

Climate change is a global issue, but actions to mitigate its development are regional. Europe has taken the leadership in the carbon emission policy by introducing the Emissions Trading Scheme (EU ETS), formerly regulated by Directive 2003/87/EC and since 2013 by Directive 2009/29/EC. This new...

Persistent link: https://www.econbiz.de/10010678943

Accounting Integration in Corporate Governance System – Factor to Attract Investments

Mihaela, Ungureanu - In: Ovidius University Annals, Economic Sciences Series XII (2012) 2, pp. 1398-1403

Without international harmonization of accounting practices, conflicts and incompatibility financial information from different countries could not be resolved. In addition, the expansion of global markets makes it more difficult to transparent disclosures about contingent liabilities and...

Persistent link: https://www.econbiz.de/10010679542

Independent regulatory agencies and rules harmonization for the electricity sector and renewables in the Mediterranean region

Cambini, Carlo; Franzi, Donata - In: Energy Policy 60 (2013) C, pp. 179-191

more suitable for attracting investments in the electricity and renewables sector. On the institutional ground, this is …

Persistent link: https://www.econbiz.de/10010681938

Investments and the holdup problem in a matching market

Bester, Helmut - In: Journal of Mathematical Economics 49 (2013) 4, pp. 302-311

investments at the market entry stage. Investment incentives depend on search frictions because both parties in a match are … partially locked-in when they bargain over the joint surplus from their sunk investments. The associated holdup problem is more … important for the long side of the market. In the extreme case of perfectly substitutable investments only the agents on the …

Persistent link: https://www.econbiz.de/10010682588