International project finance: review and implications for international finance and international business

This literature review analyzes the global phenomenon of international project finance (PF) as both a management and finance instrument, allowing practitioners to realize large scale infrastructure projects in high risk contexts. After describing the characteristics of PF, its historical origins and its unique benefits for empirical inquiry, I summarize the findings of academic research from an interdisciplinary perspective. Based on this integration of Finance, Management and International Business research, I discuss the theoretical implications for each field that emanate from PF. Finally, I identify possibilities for future research and propose a more balanced, interdisciplinary academic treatment of PF.     

Estimation of the scale matrix of a multivariate t-model under entropy loss

This paper deals with the estimation of the scale matrix of a multivariatet-model with unknown location vector and scale matrix to improve upon the usual estimators based on the sample sum of product matrix. The well-known results of the estimation of the scale matrix of the multivariate normal model under the assumption of entropy loss function have been generalized to that of a multivariatet-model. The paper is based on the first author’s unpublished Ph.D. dissertation ‘Estimation of the Scale Matrix of a Multivariate T-model’, University of Western Ontario, Canada. Present address: School of Mathematics and Statistics, The University of Sydney, NSW 2006, Australia.     

The Altrurian Economics of William Dean Howells

A bstract . In two of his novels , A TRAVELER FROM ALTRURIA and THROUGH THE EYE OF THE NEEDLE, William Dean Howells describes the ideal commonwealth of Australia where the production and distribution of goods and services do not occur in self-regulating markets such as those found in Western-world economies. Thus, traditional economic theories are limited in analyses of the Australian economy, and critics are hampered in their efforts to understand Howelis'Utopia. This study synthesizes Howells'criticisms of the harshness of 19th-century American capitalism as presented in the two novels and then analyzes the economic structure of Australia by using Karl Polanyi's framework for studying non-market societies. This framework includes the concepts of reciprocity, redistribution , and administered trade.     

Mill Versus Liberty

A bstract .   Professor Waterman now reviews Linda C. Raeder's John Stuart Mill and the Religion of Humanity (2002 ).     

Asymptotic properties of MLE and UMVUE in one-parameter truncated distributions

Consider one-parameter families of continuous distributions whose range depend on an unknown parameter. In case a single sufficient and complete statistic exists, we obtain the limiting distributions of MLE and UMVUE. Both distributions are different transformations of a standard exponential variable.