Urban transport will have a great impact on sustainable development. China is now the leading producer of motorized vehicles, and people have gradually realized that we cannot sustain endless motorization. China has adopted a sustainable development policy for many years, promoting public...

The need for public support. The existing programs for public support have been made with reference to the need for essential air transport services for providing local communities with lifeline transport services. However, the criteria for giving public support (via the programs in USA, Canada...

This paper discusses three connected aspects of regulation: (1) what makes a regulatory authority effective; (2) what is the legitimate role of a regulatory authority in the making and implementation of policy, and how that role may be regarded by others, and (3) the issue of independence of...

The heated debate on the regulatory framework for airports has highlighted the importance of creating good institutions for air transport in general. This paper defines the concept of effective regulatory institutions for air transport. It also describes the value chain for air transport and how...

Economic regulation is a controversial issue, especially in the transport sector. This paper analyses a number of general transport and mode-specific issues that can provide indications for setting up regulatory bodies and orienting their strategies. It also looks at a specific national case...

Electric vehicles are often presented as a green solution to the transport problem. They offer, it is argued, the benefits of the private car without its costs. They make it possible for individuals and families to move around easily, rapidly, comfortably, at any moment in time, which makes them...

Purpose: The purpose of this paper is to offer a “how to” guide for applying Merton’s (1987) valuation adjustment for incomplete information, which depends on market capitalization, idiosyncratic risk and extent of investor ownership. Design/methodology/approach: The paper illustrates...

Purpose: The purpose of this paper is to survey the lease vs buy coverage in leading managerial finance textbooks and to clarify the impact of tax rates and borrowing rates. Design/methodology/approach: The survey uses “plain vanilla” lease vs buy scenarios to critique and clarify...

Purpose: The purpose of this paper is to present scenarios of interactive trilateral foreign exchange (FX) exposure, where a company’s exposures to two foreign currencies depend on those currencies’ FX rate with each other. Design/methodology/approach: A pro forma analysis of three-way FX...