منابع مشابه
Debt, Equity and Warrants
This paper considers project financing under adverse selection and moral hazard and makes three contributions. First, the issue of combinations of debt and equity is explained as the outcome of the interaction between adverse selection and moral hazard. Second, it shows that, in the presence of moral hazard, adverse selection may result in the conversion of negative into positive NPV projects l...
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We numerically price the financial contracts named turbo warrant that were released early in 2005. They have been studied mathematically in [3] where explicit pricing formulas for the Geometric Brownian motion were derived. For more general underlying stochastic processes we have no analytical formulas and numerical methods are necessary. In this work two different methods are compared, stochas...
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Installment options are Bermudan-style options where the holder periodically decides whether to exercise or not and then to keep the option alive or not (by paying the installment). We develop a dynamic programming procedure to price installment options. We derive the range of installments within which the installment option is not redundant with the European contract. Simulations analysis show...
متن کاملCould CdTe PV Modules Pollute the Environment
As CdTe PV modules reached commercialization, vocal opposition emerged based on concerns about potential emissions of cadmium from them. In this short article I discuss the pertinent technical issues and conclude that CdTe PV modules do not present any risks to health and the environment during their use, and recycling the modules at the end of their useful life completely resolves any environm...
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It is true, of course, that immediately awarding contracts rather than going through a bidding process can cut implementation times. Some of the early fast-track power projects in the Philippines were completed in less than a year. The costs were high—more than 13 cents a kilowatthour (kwh), compared with 5 to 7 cents for later plants that were competitively bid. But the costs were much lower t...
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ژورنال
عنوان ژورنال: Chemical & Engineering News Archive
سال: 1970
ISSN: 0009-2347,2157-4936
DOI: 10.1021/cen-v048n026.p005