We consider callable Russian options with the finite maturity. Callable Russian option is a contract that the seller and the buyer have the rights to cancel and to exercise it at any time, respectively. We discuss the pricing model of callable Russian options when the stock pays dividends continuously. We show that the pricing model can be formulated as a coupled optimal stopping problem which ...

Current IT literature emphasizes the importance of adopting a governance strategy based on an organization’s customer market, and inherent technology and personnel capabilities. However, practical experience has shown that many organizations with sound strategies fail, often because the strategies are not aligned with IT project tactics or individual priorities. This paper explores the idea of ...

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This paper analyzes the application feasibility of CMM(Capability Maturity Model for Software) in real estate business management, and builds the CMM of real estate enterprises, It includes five levels, which describes respectively the business management ability levels for real estate enterprises of different levels of maturity. Through the application of the model, it indicates that CMM can h...

Prior studies suggest that certain issues, principles and policies are related to the successful institutionalisation of Knowledge Management (KM). This article examines the role these three factors play in the establishment of KM and report on an empirical study conducted in 86 South African based

The implementation of ITIL processes in IT organizations can be seen as a set of interdependent projects. The sequence of the ITIL implementation relies on such parameters as scope, depth, the capability of processes and the maturity of the organization. These factors can form common patterns of ITIL implementation that might be expressed as rules. Also—to semantically reinforce such a model in...

Software maintenance function suffers from a scarcity of management models that would facilitate its evaluation, management and continuous improvement. This paper is part of a series of papers that presents a Software Maintenance Capability Maturity Model (SM). The contributions of this specific paper are: 1) to describe the key references of software maintenance; 2) to present the model update...

While world-wide Mergers and Acquisitions (M&As) activity continues to accelerate, a substantial proportion of deals fails to yield the expected value. The inability to plan and implement post-merger integration of information technology contributes substantially to these failure rates. This paper advances the argument that a company’s pre-existing Enterprise Architecture decisively shapes the ...

The present paper explored the relationship between environmental sustainability and the use of IT. Based on interviews with seven " Green IT " experts and evangelists, we constructed a questionnaire for CIOs on this important issue. After collecting interview data from CIOs in ten organizations, we found that organizations are at different levels of maturity regarding environmental sustainabil...

This note explores the behaviour of the implied volatility of a European call option far frommaturity. Asymptotic formulae are derived with precise control over the error terms. The connection between the asymptotic implied volatility and the cumulant generating function of the logarithm of the underlying stock price is discussed in detail and illustrated by examples.