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Thursday, September 20, 2012

Special Seminar for Project Management Center

Description:
Topic: "Opportunism in Public-Private Project Financing" Presenter: Marian Moszoro.Lecturer of Financial Management, IESE Business School, Barcelona Date: Thursday, Sep. 20, 2012 Time: 1:30 p.m. Place: Civil Engineering Large Conference Room, 1179 Martin Hall Opportunism can become a powerful deterrent against public-private project financing. The parties can, however, secure themselves against the counter-party's deviation by assigning the investor an exit (put) option and the public agent a bail-out (call) option on the private investor's shares. The exit/bail-out option mechanism increases the set of payoffs for each discount factor by means of strong punishments for deviation, and thus facilitates cooperation. The mechanism can be generalized to settings with partially aligned goals, credible threats, and informational asymmetries. All faculties and students are welcome. {Will appear in FYI on Sep 12, 2012
Start Time:
1:30 PM
End Time:
2:30 PM
Room:
1179 Martin Hall
Venue:
Civil Engineering Large Conference Room
Common Location Name:
Engineering
Other Contact Information:
Yujie Lu +1 301 405 7768 luyj@umd.edu


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