Value-at-risk (VaR) and conditional value-at-risk (CVaR) are popular risk measures from academic, industrial and regulatory perspectives. The problem of minimizing CVaR is theoretically known to be of a Neyman-Pearson type binary solution. We add a constraint on expected return to investigate...

This working paper offers an evaluation of the performance of the port of Hong Kong, an analysis of the impact of the port on the territory and an assessment of policies in this field. It examines port performance over the last decades and identifies the principal factors that have contributed...