Now showing items 59-78 of 563

    • Callable risky perpetual debt : options, pricing and bankruptcy implications 

      Mjøs, Aksel; Persson, Svein-Arne (Discussion paper, Working paper, 2006-01-05)
      Issuances of perpetual risky debt are often motivated by capital requirements for financial institutions. However, observed market practice indicates that actual maturity equals first possible call date. We analyze callable ...
    • Can an Emission Trading Scheme really reduce CO2 emissions in the short term? Evidence from a maritime fleet composition and deployment model 

      Gu, Yewen; Wallace, Stein W.; Wang, Xin (Discussion paper;10/18, Working paper, 2018-06-27)
      Global warming has become one of the most popular topics on this planet in the past decades, since it is the challenge that needs the efforts from the whole mankind. Maritime transportation, which carries more than 90% of ...
    • Capital Regulations and the Management of Credit Commitments during Crisis Times 

      Pelzl, Paul; Valderrama, Maria Teresa (Discussion paper;12/20, Working paper, 2020-10-15)
      Drawdowns on credit commitments by firms reduce a bank’s capital buffer. Exploiting Austrian credit register data and the 2008-09 financial crisis as exogenous shock to bank health, we provide novel evidence that ...
    • Capital structure and international debt shifting: a comment 

      Møen, Jarle; Schindler, Dirk; Schjelderup, Guttorm (Discussion paper, Working paper, 2008-08)
      In a recent article, Huizinga, Laeven and Nicodème (2008) present a novel model that motivates an extensive empirical analysis of international debt shifting. We point out that the model fails to account for internal ...
    • Capital Taxation and Imperfect Competition: ACE vs. CBIT 

      Brekke, Kurt; Pires, Armando José Garcia; Schindler, Dirk; Schjelderup, Guttorm (Discussion paper;37/14, Working paper, 2014-11)
      This paper studies the market and welfare effects of two main tax reforms – the Corporate Business Income Tax (CBIT) and the Allowance for Corporate Equity tax (ACE). Using an imperfect-competition model for a small open ...
    • Career concerns, monetary incentives and job design 

      Kaarbøe, Oddvar M.; Olsen, Trond E. (Discussion paper, Working paper, 2003-12)
      We study optimal incentive contracts when commitments are limited, and agents have multiple tasks and career concerns. The agent career concerns are determined by the outside market. We show that the principal might want ...
    • Career concerns, multiple tasks, and short-term contracts 

      Kaarbøe, Oddvar M.; Olsen, Trond E. (Discussion paper, Working paper, 2000-12)
      We study optimal incentive contracts when commitments are limited, and agents have multiple tasks and career concerns. The agent career concerns are determined by the outside market. We show that the optimal compensation ...
    • Cashier fraud : data analysis in a context 

      Lillestøl, Jostein (Discussion paper, Working paper, 1999)
      A true story is told about the role of a statistical expert witness in a cashier fraud case. It illustrates Shewhart’s first principle of understanding data: "Data have no meaning apart from their context". It may be used ...
    • Centrality Computation in Weighted Networks Based on Edge-Splitting Procedure 

      Belik, Ivan; Jörnsten, Kurt (Discussion paper;40/14, Working paper, 2014-12)
      The analysis of network’s centralities has a high-level significance for many real-world applications. The variety of game and graph theoretical approaches has a paramount purpose to formalize a relative importance of ...
    • Channel Coordination in a Multi-period Newsvendor Model with Dynamic, Price-dependent Stochastic Demand 

      Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;6/16, Working paper, 2016-03-17)
      In this study, we extend the single-period newsvendor problem with stochastic demand into a multi-period and time-dependent one and find a solution for it. We analyze the multi-period newsvendor problem with stochastic ...
    • The choice of seasoned-equity selling mechanism : theory and evidence 

      Eckbo, B. Espen; Norli, Øyvind (Discussion paper, Working paper, 2004-11)
      Extending the Myers and Majluf (1984) framework, we present a model for the choice of seasoned-equity selling mechanism. A sequential pooling equilibrium exists which implies a positive market reaction to certain flotation ...
    • Citizenship/Residence by Investment and Digital Nomad Visas: The Golden Era of Individual Tax Evasion and Avoidance? 

      Casi, Elisa; Mardan, Mohammed; Stage, Barbara M. B. (Discussion paper;12/23, Working paper, 2023-08-31)
      In recent decades, increased mobility of capital and labor improved individuals’ opportunities to avoid or evade tax. This chapter explores two programs commonly provided by tax havens that facilitate individuals in dodging ...
    • Classroom experiments on technology licensing: Royalty stacking, cross-licensing and patent pools 

      Haugen, Atle; Juranek, Steffen (Discussion paper;3/21, Working paper, 2021-02-11)
      We present two classroom experiments on technology licensing. The first classroom experiment introduces the concept of royalty stacking. The students learn that non-cooperative pricing of royalties for complementary ...
    • Climate Policy and Trade in Polluting Technologies 

      Ferguson, Shon M.; Heijmans, Roweno J.R.K. (Discussion paper;3/24, Working paper, 2024-01-30)
      This paper studies international trade in equipment used in the combustion of fossil fuels. Informed by a theoretical analysis, we identify a type of technology leakage hitherto unexplored in the literature: a country’s ...
    • Closed form spread option valuation 

      Bjerksund, Petter; Stensland, Gunnar (Discussion paper, Working paper, 2006-10)
      This paper considers the valuation of a spread call when asset prices are lognormal. The implicit strategy of the Kirk formula is to exercise if the price of the long asset exceeds a given power function of the price of ...
    • Closed form valuation of American options 

      Bjerksund, Petter; Stensland, Gunnar (Discussion paper, Working paper, 2002)
      This paper presents a simple and intuitive approximation of the American call and put value. The approximation generalizes the Bjerksund-Stensland model by dividing time to maturity into two periods, each with a flat early ...
    • CO2 intensity and GDP per capita 

      Hannesson, Rögnvaldur (Discussion paper;16/18, Working paper, 2018-12-12)
      The relationship between CO2 intensity and GDP per capita is studied. Most rich countries show falling CO2 intensity over time and a negative correlation with GDP per capita. Many poor and medium rich countries show the ...
    • Coalition Formation with Externalities: The Case of the Northeast Atlantic Mackerel Fishery in a Pre and Post Brexit Context 

      Toumasatos, Evangelos; Steinshamn, Stein Ivar (Discussion paper;11/17, Working paper, 2017-10-18)
      In this paper we apply the so-called partition function approach to study coalition formation in the North-east Atlantic mackerel fishery in the presence of externalities. Atlantic mackerel is mainly exploited by the ...
    • Combined vehicle routing and scheduling with temporal precedence and synchronization constraints 

      Bredström, David; Rönnqvist, Mikael (Discussion paper, Working paper, 2006)
      We present a mathematical programming model for the combined vehicle routing and scheduling problem with time windows and additional temporal constraints. The temporal constraints allow for imposing pairwise synchronization ...
    • Committee preferences and information acquisition 

      Arve, Malin; Desrieux, Claudine (Discussion paper;14/23, Working paper, 2023-09-28)
      We study committees whose task is to make a binary decision where the correct decision depends on the state of the world that is imperfectly known. Committee members can exert effort to learn about the true state of the ...