Medical expenses are an increasingly important contributor to household financial risk. We examine the effect of medical expenditure risk on the willingness of Medicare beneficiaries to hold risky assets. Using a discrete factor maximum likelihood method to address the endogeneity of insurance choices, we find that having a moderately protective Medigap or employer supplemental policy increases...

Debt Policy, Corporate Taxes, and Discount Rates This paper studies the valuation of assets with debt tax shields when debt policy is a general time-dependent function of the asset’s unlevered cash flows, value, and history. In a continuous-time setting, it shows that the value of a project’s debt tax shield satisfies a partial differential equation, which simplifies to an easily solved ordinar...

There is much debate for both the academic community and accounting professionals with respect to use of fair value cost accounting, as well application impairment current non-current assets. Fair are two related concepts, reason being that in order proceed latter, market price an asset should first be measured. IAS 36 came into force stipulate no valued above its actual value. Assets’ revaluat...

there are several methods for measuring the performance and value of a company. these are, earnings per share, earnings growth rate, dividend per share, rate of return on equity and free cash flow. the purpose of this article is to show that all these criteria have some deficiencies and will introduce a new criterion called economic value added (eva). eva is computed by subtracting capital char...

While a great portion of the scheduling literature focuses on time-based criteria, the most important goal of management is maximizing the profitability of the firm. In this paper, the net preset value criterion is studied taking account of linear time-dependent cash flows in single machine and flow shop scheduling problems. First, a heuristic method is presented for the single machine scheduli...

Abstract Home equity represents a substantial share of retirement wealth for many older persons, particularly in Asia where national housing policies have encouraged home-ownership. This paper explored the potential reverse mortgages to help ‘asset-rich and cash-poor’ Singaporeans unlock their home while ageing place. The empirical analysis was based on nationally representative survey home-own...

In 2007 ‘‘the state of asset management in the Netherlands’’ for infrastructures was established by a national study conducted by the Next Generation Infrastructures research programme (NGInfra). This study showed that within the Netherlands different interpretations of asset management exist. The way asset management is implemented in practice differs widely. Differences included tools, proces...

For many kinds of assets, the growth rate of the real asset stock is a nonlinear function of the economic owner’s decision whether to invest or extract the asset. Examples within the economy are primarily biological assets, both privately owned (such as those found in aquaculature and agriculture) and publicly owned or regulated (such as fish stocks, and in some case, timber stocks.) Optimal ex...

3. In practice, yearto-year changes i n the federal debt do not precisely equal the corresponding annual federal budget deficits. The inequality results because Congress borrows to finance net spending on certain off-budget programs, and because the Treasury finances a small portion of the deficit through changes i n various assets such as its cash balances. Here we use the term deficit to refe...