Safe operation and reliability of the electrical power systems necessitate full observability of the power grid. Phasor measurement units (PMUs) are the state-of-the-art intelligent devices that collect synchronized phasors of voltages and currents in real time. It is not economically justifiable to install PMUs at all buses of the power grid. Hence, designing the PMUs network and determining t...

The growth-optimal portfolio is designed to have maximum expected log-return over the next rebalancing period. Thus, it can be computed with relative ease by solving a static optimization problem. The growthoptimal portfolio has sparked fascination among finance professionals and researchers because it can be shown to outperform any other portfolio with probability 1 in the long run. In the sho...

Abstract This paper develops a principal-agent model with adverse selection to analyse firms’ decisions between an existing carbon-intensive technology and new low-carbon requiring externally funded initial investment. We find that Pigouvian emission tax alone may result in credit rationing under-investment technologies. Combining the interest subsidies or loan guarantees resolves yields first-...

Emphasising the scope for further growth in institutional investment, in Europe in particular, this paper focuses on the impact of institutional investment on the efficiency and stability of financial systems. The paper stresses the scope for efficiency gains arising from an increasing role of institutional investors, reflecting – inter alia – their role in improving corporate governance. The p...