0000000000343487
AUTHOR
Carmen Juan
Herramientas matemáticas para la valoración de la ampliación de una infraestructura portuaria
infraestructura portuaria ya consolidada, que conlleva unas inversiones a largo plazo. Para ello hay que recurrir a medios de an´alisis capaces de recoger, en la medida de lo posible, la incertidumbre sobre la futura evoluci´on de los tr´aficos de mercanc´?as, sobre el efecto de la competencia entre puertos, etc., y que los m´etodos tradicionales no aproximan en toda su dimensi´on. Existe, adem´as, un problema de decisi´on de pol´?tica ´optima de gesti´on del proyecto que depende de variables de decisi´on que modelizan las opciones presentes en el mismo. Las oportunidades de inversi´on han sido tratadas como una colecci´on de opciones americanas sobre activos reales. Nosotros hemos optado p…
Private–Public Partnerships as Strategic Alliances
A new approach to the design of concession contracts of port infrastructures that adapts some of the methods used in the design and start-up of strategic alliances is presented. From a cost–benefit analysis of the project, based on the industry benchmarks, a revenue-sharing model dependent on the investment interest and the risk undertaken or transferred by each partner was formulated. This model aids in the calculation of the amount of the canons (lease and royalty charges) that should be stated in the contract. Also, to avoid complicated renegotiations and undesired deadlock situations, methods are presented for the dynamic actualization of such canons according to changes that might occ…
Compensation Options in Joint Ventures. A Real Options Approach
This research focuses on a cluster of dynamic reallocation and restatement of ownership clauses contained in joint venture agreements. These clauses, with potentially significant financial implications, govern the transfer of rights between the parties on two key financial issues: the allocation of profits and losses and the ownership interests in the joint venture. The central contribution of this research is to consider these clauses themselves as non-standard real options and to propose a methodology for assessing their values. Determination of such values will be essential throughout the joint venture negotiation process. In addition, we provide valuable information on another key quest…
Flexible strategic planning of transport systems
Abstract This paper presents a decision support methodology for long-range planning of transport systems that exhibits strategic flexibility and stochastic system parameters. Unlike one-off strategic decisions, flexible decisions should be dynamically reformulated with time. The proposed methodology is based on the construction of a tree structure of multiple interlinked tactical planning problems, each associated with a scenario in the tree, where problems under scenarios at intermediate dates incorporate in their formulation the solution of the corresponding problems associated with past (future) connected scenarios. The resulting tree structure of interconnected planning decisions become…
Decision support system to design feasible high-frequency Motorways of the Sea: A new perspective for public commitment
ABSTRACTThe implementation of Motorways of the Sea (MoS) within the framework of European Union aid programs experiences a period of relative stagnation. This article analyzes the suitability of current short-term nonrepayable subsidy policy and develops a decision support system (DSS) that allows a medium- and long-term feasibility analysis of MoS proposals. One significant conclusion drawn from the application of the proposed DSS to a prototypical high-frequency MoS provides that the period of initial losses prior to achievement of both modal shift and accounting profits might last 10 years. Moreover, the entire duration of the period that includes prior objectives as well as the recoveri…