This paper extends Bjork and Clapham (2002) model for pricing real estate index total return swaps. Our extension considers counterparty default risk within a first passage contingent claims model. We price total return swaps on property indices with different levels of default risk. We develop...

REITs discount to NAV is a puzzling regularity. The sharp increase in volatility of REITs prices over the past few years has spurred a relatively new concern amongst academics, managers and investors about the consequences of, and causes of, property risk premium on discount to NAV. The two...

This chapter analyses the ability of some structural models to predict corporate bankruptcy. The study extends the existing empirical work on default risk in two ways. First, it estimates the expected default probabilities (EDPs) for a sample of bankrupt companies in the USA as a function of...

The recognition of land title and demarcation of indigenous peoples’ ancestral lands and the guarantee of the rights of consultation and free, prior and informed consent in the context of large infrastructure projects represent some of the major challenges for indigenous peoples and...

Background: The Industry 5.0 emerges as a new paradigm for the industry by considering sustainability, human-centered approaches, organizational resilience, and interaction between hu- mans and machines as its core values. This new trend for the future of the industry is referred to as...

The 2016 Office of the Prosecutor of the International Criminal Court (ICC) policy paper on case selection and prioritization is a significant development in that it highlights the possible role of the ICC in prosecuting environmental damage, illegal natural resource exploitation and land...

Purpose The purpose of this study is to analyze the relationship between academic writing and generative artificial intelligence (AI). Design/methodology/approach This paper is characterized as exploratory and descriptive, with a qualitative approach. Two approaches were used: the first, a...