Showing 1 - 10 of 20
In this report, we first develop a simplified example that illustrates the importance of considering the option ``waiting to invest'' when valuing an investment. This is followed by a short description of other options that could be embedded in an investment opportunity. In order to stress the...
Persistent link: https://www.econbiz.de/10005100465
We evaluate biodiversity in a real options framework, when the resources in use are substitutable. We examine optimal conservation decisions given that a biodiversity loss is irreversible and that future use values are uncertain. While species substitutability is generally believed to reduce the...
Persistent link: https://www.econbiz.de/10005100634
This paper statistically tests the option theory of irreversible investment under uncertainty. Using contingent claims valuation, we derive the value of options to invest in capacity, where the projects are endogenous to the economic circumstances prevailing at the investment date. We then test...
Persistent link: https://www.econbiz.de/10005100855
We study the development of a duopoly industry -evolution of firm capacities and competitive behavior- in a continuous-time real-options model of capacity investment. Our methodology allows the evaluation of investment options and exercise rules in a strategic setup. In the initial industry...
Persistent link: https://www.econbiz.de/10005100881
We consider the cost of providing incentives through tournaments when workers are inequity averse and performance … envy depending on the costs of assessing performance. More envious employees are preferred when these costs are high, less … à la mesure de la performance. Lorsque ces coûts sont élevés, le principal préférerait des travailleurs plus envieux; à …
Persistent link: https://www.econbiz.de/10005100711
We attempt to answer the following questions: What are the revaluation effects and the impact on performance … liberalization across firms. Large firms tend to exhibit large revaluation effects, insignificant change in performance, large …, improved performance, smaller decline in volatility and decreases in correlation after liberalization. These results hold after …
Persistent link: https://www.econbiz.de/10005100936
This paper investigates the relationship between organizational fit and performance. More specifically internal … between the level of internal coherence and firm performance is assessed in the specific context of SMEs. Results derived from … a particular form of theoretical approach based on fit as gestalt suggest that fit and performance must be interpreted …
Persistent link: https://www.econbiz.de/10005417586
In order to choose the proper size of an infrastructure and to save as much as possible on investment costs, it is necessary for the responsible party (the Centre in the language of this report) to have access to information that is typically known only by some agents or partners who may use...
Persistent link: https://www.econbiz.de/10005079446
réglementations environnementales sur la performance d'affaires, en affirmant que des politiques environnementales bien conçues …
Persistent link: https://www.econbiz.de/10008511751
. These public issuers can be considered low quality firms with poor operating performance. Managers issue equity before a … large decrease in operating and stock market performance. Individual investors do not price the stocks correctly around the … faible qualité présentant une piètre performance opérationnelle. Les dirigeants émettent des actions juste avant une forte …
Persistent link: https://www.econbiz.de/10008542598