901 resultados para Options (Finance)
Resumo:
This study investigates a longitudinal dataset consisting of financial and operational data from 37 listed companies listed on Vietnamese stock market, covering the period 2004-13. By performing three main types of regression analysis - pooled OLS, fixed-effect and random-effect regressions - the investigation finds mixed results on the relationships between operational scales, sources of finance and firms' performance, depending on the choice of analytical model and use of independent/dependent variables. In most situation, fixed-effect models appear to be preferable, providing for reasonably consistent results. Toward the end, the paper offers some further explanation about the obtained insights, which reflect the nature of a business environment of a transition economy and an emerging market.
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The paper describes an implicit finite difference approach to the pricing of American options on assets with a stochastic volatility. A multigrid procedure is described for the fast iterative solution of the discrete linear complementarity problems that result. The accuracy and performance of this approach is improved considerably by a strike-price related analytic transformation of asset prices and adaptive time-stepping.
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A distributed algorithm is developed to solve nonlinear Black-Scholes equations in the hedging of portfolios. The algorithm is based on an approximate inverse Laplace transform and is particularly suitable for problems that do not require detailed knowledge of each intermediate time steps.
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Semi-Lagrange time integration is used with the finite difference method to provide accurate stable prices for Asian options, with or without early exercise. These are combined with coordinate transformations for computational efficiency and compared with published results
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Argues that England should follow the example of Australia and New Zealand and give the courts statutory power to grant a tenant relief against forfeiture of the right to exercise an option to renew a lease by reason of the tenant being in breach of covenant. Suggests the legislative provision introducing this power should adopt wording mirroring that in the Law of Property Act 1925 s.146(2).
Resumo:
The book provides an overview to the context of property development so that academics, students and professionals can examine the stages of development in the process - from initial consideration, to site finding, general appraisal, valuation, funding, construction and marketing, with a focus on two key areas of the process: appraisal and finance. The Second Edition reflects the developing research interests of the authors by putting property development and appraisal in a wider economic environment and the appraisal process was treated in a more holistic manner. Secondly, more case studies were included and the chapters framed with clear objectives key terms and summaries. Thirdly, this edition examined in more detail the property development and appraisal process in relation to sustainability and other key issues such as climate change, the changing financial environment, planning design and global influences. Research on appraisal techniques is incorporated in chapters 3-5. Research on property finance based on the original Property Lending Surveys carried out by the author and incorporated in other texts (Property Finance, 1994, 2003) is included in chapters 6-8. Research on property companies and their capital structures in included in chapter 8. Analysis of the relationship between sustainability and design is included in chapter 9. This is a key text in the area of property development, sales of the First Edition and Second Edition have been in the thousands globally to academics, students and practitioners.
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The recognition that urban groundwater is a potentially valuable resource for potable and industrial uses due to growing pressures on perceived less polluted rural groundwater has led to a requirement to assess the groundwater contamination risk in urban areas from industrial contaminants such as chlorinated solvents. The development of a probabilistic risk based management tool that predicts groundwater quality at potential new urban boreholes is beneficial in determining the best sites for future resource development. The Borehole Optimisation System (BOS) is a custom Geographic Information System (GIs) application that has been developed with the objective of identifying the optimum locations for new abstraction boreholes. BOS can be applied to any aquifer subject to variable contamination risk. The system is described in more detail by Tait et al. [Tait, N.G., Davison, J.J., Whittaker, J.J., Lehame, S.A. Lerner, D.N., 2004a. Borehole Optimisation System (BOS) - a GIs based risk analysis tool for optimising the use of urban groundwater. Environmental Modelling and Software 19, 1111-1124]. This paper applies the BOS model to an urban Permo-Triassic Sandstone aquifer in the city centre of Nottingham, UK. The risk of pollution in potential new boreholes from the industrial chlorinated solvent tetrachloroethene (PCE) was assessed for this region. The risk model was validated against contaminant concentrations from 6 actual field boreholes within the study area. In these studies the model generally underestimated contaminant concentrations. A sensitivity analysis showed that the most responsive model parameters were recharge, effective porosity and contaminant degradation rate. Multiple simulations were undertaken across the study area in order to create surface maps indicating areas of low PCE concentrations, thus indicating the best locations to place new boreholes. Results indicate that northeastern, eastern and central regions have the lowest potential PCE concentrations in abstraction groundwater and therefore are the best sites for locating new boreholes. These locations coincide with aquifer areas that are confined by low permeability Mercia Mudstone deposits. Conversely southern and northwestern areas are unconfined and have shallower depth to groundwater. These areas have the highest potential PCE concentrations. These studies demonstrate the applicability of BOS as a tool for informing decision makers on the development of urban groundwater resources. (c) 2007 Elsevier Ltd. All rights reserved.
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Drawing on empirical evidence gathered through the PSIRU database, this contribution aims at addressing the potential of public finance to enhance the provision of water supply and sanitation as a public service. It highlights the problems associated with (and the disappointing results obtained from) resort to Private Sector Participation and private finance, both historically and in the last 15-20 years, in developed and developing countries. It also addresses the advantages of using public finance as a more cost-effective and equitable instrument to achieve developmental objectives such as the expansion of service coverage and development of water and sanitation infrastructure. The potential of public operations in maximising developmental impact from the social, economic and environmental points of view is then explored referring to specific examples from a variety of countries and regions. These include the in-house restructuring of public operations to enhance transparency, accountability and effectiveness, as well as the use of Public-Public Partnerships (PUPs) to build capacity. Attention is devoted to the specific financial requirements of expanding sewerage services at global level to achieve MDGs or broader developmental goals. These requirements are revisited in light of a regional breakdown of coverage gaps, available resources and development aid flows. These findings challenge the established view among international and bilateral agencies that expanding sewerage services in developing countries is excessively costly and should be abandoned as a priority because unaffordable. This contribution draws on a number of PSIRU Reports, and particularly the following. - http://www.psiru.org/reports/2008-03-W-sewers.pdf - http://boell-latinoamerica.org/download_es/agua08_privatizacion_LA_2007.pdf - http://boell-latinoamerica.org/download_es/agua08_agua_un_servicio_publico.pdf - http://www.psiru.org/reports/2006-03-W-investment.pdf All PSIRU Reports are accessible at http://www.psiru.org/publicationsindex.asp.
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A critique of the EC Communication on PPPs, challenging the scale of state aid offered to PPPs, the role of PPPs in the economic recovery strategy for the EU, and drawing attention to the damage done to public authorities by 'innovative' financing mechanisms.