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Articles 1 - 4 of 4
Full-Text Articles in Business
Quasi-Monte Carlo Methods In Cash Flow Testing Simulations, Michael Gene Hilgers
Quasi-Monte Carlo Methods In Cash Flow Testing Simulations, Michael Gene Hilgers
Business and Information Technology Faculty Research & Creative Works
What actuaries call cash flow testing is a large-scale simulation pitting a company''s current policy obligation against future earnings based on interest rates. While life contingency issues associated with contract payoff are a mainstay of the actuarial sciences, modeling the random fluctuations of US Treasury rates is less studied. Furthermore, applying standard simulation techniques, such as the Monte Carlo method, to actual multi-billion dollar companies produce a simulation that can be computationally prohibitive. In practice, only hundreds of sample paths can be considered, not the usual hundreds of thousands one might expect for a simulation of this complexity. Hence, insurance …
Strategy Planning For Technological Discontinuities In A Changing Regulatory Environment, William Ralph Kehr, Halvard E. Nystrom
Strategy Planning For Technological Discontinuities In A Changing Regulatory Environment, William Ralph Kehr, Halvard E. Nystrom
Engineering Management and Systems Engineering Faculty Research & Creative Works
This paper describes an approach to the analysis of publicly available financial data for individual industries. These methods enable the analyst to assess past practices and the historical rate of technological diffusion during the transition period of discontinuous technological change. This assessment can provide a basis of comparison for current changes in their industry. These methods are applied to small rural telephone companies during the period of 1960 to 1996. Annual data is presented detailing the change from aerial distribution cable to buried cable by the roughly 600 rural telephone companies financed through loans from the Rural Utilities Services, a …
Analysis Of Intangible Factors In Waste Minimization Projects, Halvard E. Nystrom, William Ralph Kehr
Analysis Of Intangible Factors In Waste Minimization Projects, Halvard E. Nystrom, William Ralph Kehr
Engineering Management and Systems Engineering Faculty Research & Creative Works
Continual population growth and rising standards of living that accelerate the consumption of limited resources, are forcing society to encourage conservation of these resources. These resources not only include raw material, but also the areas to dispose of the wastes. As a result, communities are driving industries towards waste minimization by limiting waste generation and landfill availability. Firms'' environmentally friendly strategies can gain competitive advantage by leading in environmental practices. This advantage emanates from the reduction of risk of environmental regulatory overreaction, as well as improved asset utilization and landfill utilization. However, these intangible benefits are difficult to identify and …
Computational Finance Models, Michael Gene Hilgers
Computational Finance Models, Michael Gene Hilgers
Business and Information Technology Faculty Research & Creative Works
The author discusses his involvement in developing computational finance software. These computational finance models attempt to model the randomness of a stock's price. At a fixed future time, a stock's price is modeled as a random variable with a normal distribution centered about the current price adjusted with a simple growth multiplier. The standard deviation of this normal distribution depends on the length of time into the future one peers and the volatility of the market. As the market becomes more volatile and we look further ahead, the less likely the stock will have a price near the adjusted current …