In this paper, system planning network is formulated with mixed-integer programming. Two meta-heuristic procedures are considered for this problem. The cost function of this problem consists of the capital investment cost in discrete form, the cost of transmission losses and the power generation costs. The DC load flow equations for the network are embedded in the constraints of the mathematica...

A successful cogeneration system design project needs an estimation of the economical parameters of the project, including capital investment, costs of fuel, expenses in maintenance and operating, and the proper cost for the products. This study describes the economic consideration of the benchmark cogeneration systems, called CGAM system located in the United States. To evaluate the profitabil...

This study examines the contracting benefits of accounting conservatism on international debt and equity markets. Results show that firms domiciled in countries with more conservative financial reporting systems have significantly lower cost of debt and equity capital, after controlling for differences in legal institutions and securities regulations. I use one-year-ahead interest rate to measu...

We study the impact of the technological change on asset prices in a dynamic model economy that features a stochastic technology frontier and costly technology adoption. Firms adopt the latest technology embodied in new capital to reach the stochastic technology frontier, but this decision entails an adoption cost. The model predicts that firms operating with old capital are more risky and henc...

We study the behavior of firms in an imperfectly competitive environment in which firms influence the evolution of the stock of capital equipment. Our model enables us, using analytical characterizations, to show the effect of key ingredients of dynamic competition on firm strategies and industry dynamics in addition to the usual static interaction. These effects are the static market externali...

In capital budgeting problems future cash–flows are discounted using the expected one period returns of the investment. In this paper we establish a theory that relates this approach to the assumption that markets are free of arbitrage. Our goal is to uncover implicit assumptions on the set of cash–flow distributions that are suitable for the capital budgeting method. As results we obtain that ...

Implicit psychological constructs are effective predictors of behavioral outcomes but are rarely used in organizational settings because of real or imagined problems with measurement validity and administration. To address these concerns, we present a means of assessing implicit constructs quickly and easily by using psychological capital as an example.

The most notable capital structure theories today are the traditional pecking order theory, tradeoff theory and market timing theory. The first two theories hypothesize a semi-strong efficiency in the capital markets, whereas the market timing theory sees the capital market more or less inefficient. Thus, market timing theory allows the idea of managerial persons to be able to time the market, ...