Siegel (1995) has developed a technique with which the systematic risk of a security (beta) can be estimated without recourse to historical capital market data. Instead, beta is estimated implicitly from the current market prices of exchange options that enable the exchange of a security against...

Measurement in financial accounting often requires determining an interest rate to discount future cash flows. One example is the International Accounting Standard (IAS)36 Impairment of assets. IAS 36´s impairment test requires determining a value in use (a present value). The Appendix A to the...

Using time-series cross-section data from the manufacturing sector of the 11Bundesländer from 1970 to 1993, we examine the impact of road infrastructure onprivate production applying three different approaches; i.e., a Cobb-Douglas production function, a translog production function and a...