The traditional textbook method of calculating a corporation’s cost of debt capital tends to minimize the practical process used to arrive at that cost. This is particularly true if the corporation has issued a coupon bond at either premium or discount. The theoretical before-tax cost of debt is easily calculated and does include the amortization of the discount or premium, but the significance...

a r t i c l e i n f o In March 1999, 31 million " shopping coupons " worth 20,000 yen each were distributed to Japanese families with children and to the elderly. The coupons expired after six months and could only be used within the recipient's local community. We use variation in the number of children across families and in the number of recipients across prefectures to measure the effect of...

Mobile Couponing stellt dem Kunden ein Rabattsystem mit Kontexteigenschaften wie Zeitpunkt, Lagerstatus, Kundenprofil und Nähe des Kunden zum Geschäft zur Verfügung und ist somit eine Erweiterung des Mobile Marketings. Dieses Dokument beschreibt aktuell existierende Location Based Services, die derzeitigen technischen Möglichkeiten zur Ortung mobiler Endgeräte via GPS, GSM, WLAN, RFID und Bluet...

We introduce a first theory of price impact in the presence an interest rate term structure. explain how one can formulate instantaneous and transient on zero-coupon bonds with different maturities, including cross that is endogenous to connect introduced classic no-arbitrage for markets, showing be embedded pricing measure no arbitrage preserved. extend setup coupon-bearing further show implem...

Mountain beech (Nothofagus solandri var. solandri) trunk diameters were measured in each of two catchments, a control, and a stream catchment (a putative lahar path), to assess the vulnerability of a hut sited on the Wakapapaiti Stream, Tongariro National Park, to disturbance events. Beech forest margins were more abrupt, terraced, and were adjacent to rocky areas in the stream catchment, while...

Ecotourists appreciate nature and are willing to learn about nature and ecology. Th erefore ecotourism is often seen as a product package that supports sustainable tourism development. Th is study contributes to existing research in the fi eld of ecotourism as it investigates how travel motives and environmental concern of mountain tourists infl uences their actual demand for ecotourism. A surv...

We combined normalized difference vegetation index (NDVI) and digital terrain analysis to detect thermal south (defined in this paper as the warmest slope azimuth, especially for plant growth) in three mountainous landscapes of California. Two methods, respectively, defined topography-controlled thermal south as corresponding to (1) the maximum NDVI contrast between opposite topographic aspects...

This paper investigates the pricing of step-up bonds, i.e. corporate bonds with provisions stating that the coupon payments increase as the credit rating level of the issuer declines. To assess the risk-neutral rating transition probabilities necessary to price these bonds, we introduce a new calibration method within the reduced-form rating-based model of Jarrow, Lando, and Turnbull (1997). We...

Motivated by applications in bioinformatics, we consider the word collector problem, i.e. the expected number of calls to a random weighted generator of words of length n before the full collection is obtained. The originality of this instance of the non-uniform coupon collector lies in the, potentially large, multiplicity of the words/coupons of a given probability/composition. We obtain a gen...