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41-50 of 64 results in All results

Investment and the use of Tax and Toll Revenues in the Transport Sector

  • 1st Edition
  • Volume 19
  • April 24, 2007
  • Andre de Palma + 2 more
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 8 0 6 2 - 6
Transport infrastructure developments will depend increasingly on the level of user charges. One reason is the ongoing liberalization of the EU transport sector, especially for air and rail. Another is the trend towards implementing tolls and other user charges on roads. It is expected that user charges will progressively replace government subsidies for infrastructure expansion and maintenance. Revenues from user charges may also be used to cross subsidize other transport modes. The surplus anticipated on urban roads could be used to fund infrastructure and operation of public transport and/or non-urban roads.This book brings together both the theory and the current practice of user charges, tolls and revenue use in European countries. It examines public finance aspects such as earmarking, as well as public management aspects of different pricing and revenue use principles. A set of guidelines is developed for a better use of toll and tax revenues. The set of guidelines is tested with a new cost benefit tool in case studies that cover France, Germany, Norway , Switzerland and the UK.Research in Transportation Economics is now available online at ScienceDirect — full-text online of volumes 6 onwards.

Handbook of Corporate Finance

  • 1st Edition
  • Volume 1
  • April 11, 2007
  • Bjørn Espen Eckbo
  • English
  • Hardback
    9 7 8 - 0 - 4 4 4 - 5 0 8 9 8 - 0
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 8 8 9 1 - 2
Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms’ financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything “corporate” is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work.

Devolution, Port Governance and Port Performance

  • 1st Edition
  • Volume 17
  • November 13, 2006
  • Mary R Brooks + 1 more
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 6 7 0 7 - 8
The relationship between ports and governments has changed profoundly over the past quarter of a century. Many governments have sought to extract themselves from the business of port operations and, in many cases, the provision of port services has devolved to local governments, communities or private management and administration. As such devolution implies a change in governance model, this trend raises questions about consequent performance. This issue examines the changed port management environment, focusing particularly on government policies such as devolution, regulatory reform and newly imposed governance models, all of which have exerted a significant influence over the nature of that changed environment. The issue is structured so as to first explore the devolution and port reform approaches for 14 countries or regions, before examining how ports are governed and what the choice of governance might mean for their performance. Part I introduces the issue, and provides a framework for defining the basic concepts involved in devolution; it paints a picture of the current port environment, its likely future evolution and the expected impact this will have on the functioning of ports. Part II examines the port industry in 14 countries or administrations, and presents the thinking behind any devolution programs that have been implemented. Part III focuses on port governance and devolution generally, and examines governance from both strategic management and economics perspectives, including topics such as governance models, supranational governance and stakeholder conflict. Part IV examines the measurement of port performance and closes by providing conclusions and a future research agenda. This issue will be of interest to port managers, government officials and academics alike.

Handbook of the Economics of Art and Culture

  • 1st Edition
  • Volume 1
  • September 13, 2006
  • Victor A. Ginsburgh + 1 more
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 6 4 7 5 - 6
Over the last 30 or 40 years a substantial literature has grown up in which the tools of economic theory and analysis have been applied to problems in the arts and culture. Economists who have surveyed the field generally locate the origins of contemporary cultural economics as being in 1966, the year of publication of the first major work in modern times dedicated specifically to the economics of the arts. It was a book by Baumol and Bowen which showed that economic analysis could illuminate the supply of and demand for artistic services, the contribution of the arts sector to the economy, and the role of public policy. Following the appearance of the Baumol and Bowen work, interest in the economics of the arts grew steadily, embracing areas such as demand for the arts, the economic functions of artists, the role of the nonprofit sector, and other areas. Cultural economics also expanded to include the cultural or entertainment industries (the media, movies, the publishing industry, popular music), as well as heritage and museum management, property right questions (in particular copyright) and the role of new communication technologies such as the internet. The field is therefore located at the crossroads of several disciplines: economics and management, but also art history, art philosophy, sociology and law. The Handbook is placed firmly in economics, but it also builds bridges across these various disciplines and will thus be of interest to researchers in all these different fields, as well as to those who are engaged in cultural policy issues and the role of culture in the development of our societies.

Handbook of Computational Economics

  • 1st Edition
  • Volume 2
  • May 15, 2006
  • Leigh Tesfatsion + 1 more
  • English
  • Hardback
    9 7 8 - 0 - 4 4 4 - 5 1 2 5 3 - 6
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 5 9 8 7 - 5
The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues.

Advanced Derivatives Pricing and Risk Management

  • 1st Edition
  • September 8, 2005
  • Claudio Albanese + 1 more
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 8 8 0 9 - 7
Advanced Derivatives Pricing and Risk Management covers the most important and cutting-edge topics in financial derivatives pricing and risk management, striking a fine balance between theory and practice. The book contains a wide spectrum of problems, worked-out solutions, detailed methodologies, and applied mathematical techniques for which anyone planning to make a serious career in quantitative finance must master. In fact, core portions of the book’s material originated and evolved after years of classroom lectures and computer laboratory courses taught in a world-renowned professional Master’s program in mathematical finance. The book is designed for students in finance programs, particularly financial engineering.

Shipping Economics

  • 1st Edition
  • Volume 12
  • June 15, 2005
  • Kevin Cullinane
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 5 6 8 0 - 5
Shipping is by far the most significant mode of transportation for the carriage of freight. In terms of volume alone, no other mode comes close. Its dominance is even more overwhelming when distances are accounted for. This book is concerned with the economics of this pivotal mode of transportation. It reveals that the influences on the development and current state of shipping economics research are extremely eclectic. The various chapters in the book represent areas that are of central concern to ongoing research in the field. As such, the book is useful to students, researchers, industrialists, policy makers and consultants. The authors of the contributed chapters are some of the leading names in the world of shipping economics, addressing a number of diverse areas: The econometric modeling of shipping markets; Shipping finance (a critical issue in such a capital intensive industry); Fiscal policy (and its impact on an international industry with great asset mobility) and Safety and security (aspects that have risen to prominence with increasing concerns over the environment and international terrorism). Ultimately, while shipping as a business depends upon trade, it is absolutely certain that the business of trade depends upon shipping. The final two chapters, therefore, incorporate aspects of network economics, welfare economics and international trade theory to analyze where and how shipping sits within the wider perspective of industrial supply chains.Professor Kevin Cullinane, BA BSc MSc PhD FCILT CNIProfessor Kevin Cullinane is Chair in Marine Transport and Management at the University of Newcastle in the U.K. He was previously Professor and Head of the Department of Shipping and Transport Logistics at the Hong Kong Polytechnic University, Head of the Centre for International Shipping and Transport at Plymouth University, Senior Partner in his own transport consultancy company and Research Fellow at the University of Oxford Transport Studies Unit. He is a Fellow of the Chartered Institute of Logistics and Transport and has been a transport adviser to the governments of Hong Kong, Egypt, Chile and the U.K. He holds visiting Professorships at a number of institutions and an Honorary Professorship at the University of Hong Kong.

Private Real Estate Investment

  • 1st Edition
  • March 29, 2005
  • Roger J. Brown
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 8 0 3 6 - 7
Fiduciary responsibilities and related court-imposed liabilities have forced investors to assess market conditions beyond gut level, resulting in the development of sophisticated decision-making tools. Roger Brown's use of historical real estate data enables him to develop tools for gauging the impact of circumstances on relative risk. His application of higher level statistical modeling to various aspects of real estate makes this book an essential partner in real estate research. Offering tools to enhance decision-making for consumers and researchers in market economies of any country interested in land use and real estate investment, his book will improve real estate market efficiency. With property the world's biggest asset class, timely data on housing prices just got easier to find and use.

Neural Networks in Finance

  • 1st Edition
  • December 22, 2004
  • Paul D. McNelis
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 7 9 6 5 - 1
This book explores the intuitive appeal of neural networks and the genetic algorithm in finance. It demonstrates how neural networks used in combination with evolutionary computation outperform classical econometric methods for accuracy in forecasting, classification and dimensionality reduction. McNelis utilizes a variety of examples, from forecasting automobile production and corporate bond spread, to inflation and deflation processes in Hong Kong and Japan, to credit card default in Germany to bank failures in Texas, to cap-floor volatilities in New York and Hong Kong.

Elements of Financial Risk Management

  • 1st Edition
  • September 4, 2003
  • Peter Christoffersen
  • English
  • eBook
    9 7 8 - 0 - 0 8 - 0 4 7 2 6 1 - 4
Elements of Financial Risk Management offers an introduction to modern risk management. It focuses on implementation, especially recent techniques which facilitate bridging the gap between standard textbooks on risk and real-life risk management systems. It identifies key features of risk asset returns and captures them in tractable statistical models in the companion website. It presents step-by-step approaches as a means to solve problems. This book is intended for three types of readers with an interest in financial risk management. First, Master's and Ph.D. students specializing in finance and economics. Second, market practitioners with a quantitative undergraduate or graduate degree. Third, a small group of advanced undergraduates majoring in either economics, engineering, finance, or another quantitative field. The book will also suit those in financial engineering courses who have strong quantitative backgrounds and those in Ph.D. courses.

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