Cross-border data transmission in the biomedical area is on the rise, which brings potential risks and management challenges to data security, biosafety, and national security. Focusing on cross-border data security assessment and risk management, many countries have successively issued relevant...

This paper examines the empirical question of whether systematic equity risk of U.S. firms as measured by beta from the Capital Asset Pricing Model reflects the risk of their pension plans. There are a number of reasons to suspect that it might not. Chief among them is the opaque set of...

We show how to calculate the after-tax value of real options, including the value of interest tax shields on debt supported or displaced by the options. An option's “debt capacity” can be calculated from the adjusted present value (APV) and target debt ratio for the underlying asset, the...

It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for investments found imprudent or not `used and useful'. However, this book develops a new theory of asymmetric regulatory risk that shows that...

We show how the value of a real option depends on corporate income taxes and the option's "debt capacity," defined as the amount of debt supported or displaced by the option. The value of the underlying asset must be an adjusted present value (APV). The risk-free rate of interest must be...

We show how the value of a real option depends on corporate income taxes and the option's “debt capacity,” defined as the amount of debt supported or displaced by the option. The value of the underlying asset must be an adjusted present value (APV). The risk-free rate of interest must be...