The Experts below are selected from a list of 75159 Experts worldwide ranked by ideXlab platform
Xavier Warin - One of the best experts on this subject based on the ideXlab platform.
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optimal liquidity Management and hedging in the presence of a non predictable investment opportunity
Mathematics and Financial Economics, 2014Co-Authors: Stephane Villeneuve, Xavier WarinAbstract:In this paper, we develop a dynamic model that captures the interaction between a firm’s cash reserves, the Risk Management Policy and the profitability of a non-predictable irreversible investment opportunity. We consider a firm that has assets in place generating a stochastic cash-flow stream. The firm has a non-predictable growth opportunity to expand its operation size by paying a sunk cost. When the opportunity is available, the firm can finance it either by cash or by costly equity issuance. We provide an explicit characterization of the firm strategy in terms of investment, hedging, equity issuance and dividend distribution.
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optimal liquidity Management and hedging in the presence of a non predictable investment opportunity
Research Papers in Economics, 2012Co-Authors: Stephane Villeneuve, Xavier WarinAbstract:In this paper, we develop a dynamic model that captures the interaction between the cash reserves, the Risk Management Policy and the profitability of a non-predictable irreversible investment opportunity. We consider a firm that has assets in place generating a stochastic cash- ow stream. The firm has a non-predictable growth opportunity to expand its operation size by paying a sunk cost. When the opportunity is available, the firm can finance it either by cash or by costly equity issuance. We provide an explicit characterization of the firm strategy in terms of investment, hedging, equity issuance and dividend distribution.
Stephane Villeneuve - One of the best experts on this subject based on the ideXlab platform.
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optimal liquidity Management and hedging in the presence of a non predictable investment opportunity
Mathematics and Financial Economics, 2014Co-Authors: Stephane Villeneuve, Xavier WarinAbstract:In this paper, we develop a dynamic model that captures the interaction between a firm’s cash reserves, the Risk Management Policy and the profitability of a non-predictable irreversible investment opportunity. We consider a firm that has assets in place generating a stochastic cash-flow stream. The firm has a non-predictable growth opportunity to expand its operation size by paying a sunk cost. When the opportunity is available, the firm can finance it either by cash or by costly equity issuance. We provide an explicit characterization of the firm strategy in terms of investment, hedging, equity issuance and dividend distribution.
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optimal liquidity Management and hedging in the presence of a non predictable investment opportunity
Research Papers in Economics, 2012Co-Authors: Stephane Villeneuve, Xavier WarinAbstract:In this paper, we develop a dynamic model that captures the interaction between the cash reserves, the Risk Management Policy and the profitability of a non-predictable irreversible investment opportunity. We consider a firm that has assets in place generating a stochastic cash- ow stream. The firm has a non-predictable growth opportunity to expand its operation size by paying a sunk cost. When the opportunity is available, the firm can finance it either by cash or by costly equity issuance. We provide an explicit characterization of the firm strategy in terms of investment, hedging, equity issuance and dividend distribution.
Thomas Thaler - One of the best experts on this subject based on the ideXlab platform.
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the introduction of catchment wide co operations scalar reconstructions and transformation in austria in flood Risk Management
Land Use Policy, 2017Co-Authors: Thomas Thaler, Lukas Loschner, Thomas HartmannAbstract:The Management of flood Risk in Europe is changing. In several European Member States there are significant ongoing processes to shift certain flood Risk Management duties and responsibilities from the national to the local level. Previously, national authorities dominated the discourse about national flood Risk Management Policy, but increasingly, local and private stakeholders have become responsible for flood Risk Management. This has greatly influenced the governance structure and arrangements for flood Risk Management Policy. As a result, the co-operation among various stakeholders has become increasingly important. The consequences of this shift toward local stakeholders can be understood in the context of rescaling. This paper analyses the rescaling processes through catchment-wide Management plans in the Austrian flood Risk Management system. Therefore, we selected three different Austrian study sites (Aist in Upper Austria, Triesting-Tal in Lower Austria and Ill-Walgau in Vorarlberg). New Management ideas required new dynamics within the current scales and allowed changes in the interaction of local, regional, and national stakeholders in terms of negotiation, funding, and strategy development. The new Policy direction demonstrates not only the importance of network connections between stakeholders at the same scale, but also networks between stakeholders at different scales, especially between local and national levels. However, engagement at the local level strongly depends on social capacities, such as knowledge, motivation/self-interest, networks at various levels, and procedural capacity. The theoretical framework of politics of scale helps in understanding and analysing the impact of the new decentralisation Policy and practice.
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partnership funding in flood Risk Management new localism debate and Policy in england
Area, 2014Co-Authors: Thomas Thaler, Sally J PriestAbstract:The new flood Risk Policy discussion in England has started to redefine national Policy regarding flood and coastal Risk Management. The key issue in the new Policy agenda is to encourage the responsibilities of local authorities in flood Risk Management, which involve defining local strategies to manage local Risks. This downscaling process in flood Risk Management has a series of consequences in the development of new governance structures and institutions as well as new working relations and intervention strategies. Nevertheless, the main problem is the gap between the downscaling of responsibility and the transfer of resources; in particular the question concerning funding and social capacity. In this way, the focus of Policy discussion refers to two main aspects: (a) the equitable sharing of Risk-burdens between public authorities, private companies and individuals and (b) how to encourage government agencies and nongovernment agents to take over responsibility for certain tasks from central government. The aim of this paper is to discuss the new funding regime for English flood Risk Management Policy under the new Policy paradigm.
Mark Pelling - One of the best experts on this subject based on the ideXlab platform.
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positioning resilience for 2015 the role of resistance incremental adjustment and transformation in disaster Risk Management Policy
Disasters, 2015Co-Authors: David Matyas, Mark PellingAbstract:Resilience is a ubiquitous term in disaster Risk Management and is an increasingly prominent concept in early discussions focused on elaborating the post-2015 international Policy landscape. Riddled with competing meanings and diverse Policy implications, however, it is a concept caught between the abstract and operational. This paper provides a review of the rise to prominence of the concept of resilience and advances an elaboration of the related concepts of resistance, incremental adjustment and transformation. We argue that these concepts can contribute to decision-making by offering three distinct options for Risk Management Policy. In order to deliberately and effectively choose among these options, we suggest that critical reflexivity is a prerequisite, necessitating improved decision-making capacity if varied perspectives (including those of the most vulnerable) are to be involved in the selection of the best approach to Risk Management.
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positioning resilience for 2015 the role of resistance incremental adjustment and transformation in disaster Risk Management Policy
Disasters, 2015Co-Authors: David Matyas, Mark PellingAbstract:Resilience is a ubiquitous term in disaster Risk Management and is an increasingly prominent concept in early discussions focused on elaborating the post-2015 international Policy landscape. Riddled with competing meanings and diverse Policy implications, however, it is a concept caught between the abstract and operational. This paper provides a review of the rise to prominence of the concept of resilience and advances an elaboration of the related concepts of resistance, incremental adjustment and transformation. We argue that these concepts can contribute to decision-making by offering three distinct options for Risk Management Policy. In order to deliberately and effectively choose among these options, we suggest that critical reflexivity is a prerequisite, necessitating improved decision-making capacity if varied perspectives (including those of the most vulnerable) are to be involved in the selection of the best approach to Risk Management. Language: en
Darren Lumbroso - One of the best experts on this subject based on the ideXlab platform.
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a comparison of the causes effects and aftermaths of the coastal flooding of england in 1953 and france in 2010
Natural Hazards and Earth System Sciences, 2011Co-Authors: Darren Lumbroso, Freddy VinetAbstract:This paper provides a comparison of the causes, effects and aftermaths of the coastal flooding that occurred on the east coast of England in 1953 and the west coast of France in 2010 that resulted in 307 and 47 deaths respectively. The causes of both events are strikingly similar. Both were caused by a combination of high tides, low atmospheric pressure, high winds and the failure of poorly maintained flood defences. In both cases the number of deaths was related to the vulnerability of the buildings and people. Buildings in the flood zones were often single storey bungalows and the people who died were mostly over 80 years of age. Both tragedies were national disasters. The 1953 flood in England acted as a catalyst for an acceleration in flood Risk Management Policy and practice. It resulted in: the development of a Storm Tide Warning System for the east coast of England; the setting of new design standards for coastal flood defences; increased investment in improving coastal defences; and a substantial new research effort into coastal processes, protection and forecasting. In France there has also been an episodic shift in flood Risk Management Policy with the focus falling on: control of urban developments in areas at Risk of flooding; improved coastal forecasting and warning; strengthening of flood defences; and developing a “culture of Risk awareness”. This paper outlines the lessons that can be learnt from the two events and provides recommendations concerning how future loss of life as a result of coastal flooding can be reduced.
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a comparison of the causes effects and aftermaths of the coastal flooding of england in 1953 and france in 2010
Natural Hazards and Earth System Sciences, 2011Co-Authors: Darren Lumbroso, Freddy VinetAbstract:This paper provides a comparison of the causes, effects and aftermaths of the coastal flooding that occurred on the east coast of England in 1953 and the west coast of France in 2010 that resulted in 307 and 47 deaths respectively. The causes of both events are strikingly similar. Both were caused by a combination of high tides, low atmospheric pressure, high winds and the failure of poorly maintained flood defences. In both cases the number of deaths was related to the vulnerability of the buildings and people. Buildings in the flood zones were often single storey bungalows and the people who died were mostly over 80 years of age. Both tragedies were national disasters. The 1953 flood in England acted as a catalyst for an acceleration in flood Risk Management Policy and practice. It resulted in: the development of a Storm Tide Warning System for the east coast of England; the setting of new design standards for coastal flood defences; increased investment in improving coastal defences; and a substantial new research effort into coastal processes, protection and forecasting. In France there has also been an episodic shift in flood Risk Management Policy with the focus falling on: control of urban developments in areas at Risk of flooding; improved coastal forecasting and warning; strengthening of flood defences; and developing a “culture of Risk awareness”. This paper outlines the lessons that can be learnt from the two events and provides recommendations concerning how future loss of life as a result of coastal flooding can be reduced.
