This paper shows that active risk management policies lead to an increase in firm value. To
identify the effect of hedging and to overcome endogeneity concerns, we exploit the …

A survivor swap (SS) is an agreement to exchange cash flows in the future based on the
outcome of at least one survivor index. This article discusses the possible uses of SSs as …

This paper presents a new methodology for valuing new drug applications (NDA) and the
R&D of pharmaceutical companies based on real option models. Traditional valuation …

The valuation of multi-staged pharmaceutical R&D can be interpreted as a chain of real
options. In valuing these compound option models, a crucial problem is how to deal with the …

The pharmaceutical landscape has changed, and new business models, based on
alliances, are increasingly being adopted in this industry. Biotechnology advances have …

This presentation contains a selection of records and events that constitute a part of the
history of derivatives. It relates how derivatives date back as far as Antiquity. Derivatives …

There is a general perception that financial derivatives have significant impact on firm
performance when they are used to hedge financial risks. The study attempted to examine …

An installment option is a derivative financial security where the price is paid in installments
instead of as a lump sum at the time of purchase. The valuation of these options involves a …

Written by one of the leading scholars of global politics, Globalization Revisited is a major
new book for students of globalization. It describes and explains the challenges to liberalism …

In this paper, we study the existence, uniqueness, and stability of solutions to the pricing
problem of European continuous-installment options under the regime-switching model …