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Boyarchenko, Svetlana; Levendorskiy, Sergey - EconWPA - 2004

the standard problems in the real options theory is given in the binomial and trinomial models, and more generally, when …

Persistent link: https://www.econbiz.de/10005134695

Employment Effects of Different Innovation Activities: Microeconometric Evidence

Peters, Bettina - EconWPA - 2005

Using a recently developed model which allows to separate a few well- established employment effects of product and … process innovations, this paper reports new results on the relationship between innovation and employment growth in Germany …. The model is tailor-made for analysing firm-level employment effects of innovations using specific information provided by …

Persistent link: https://www.econbiz.de/10005118792

Is Variation in Hours of Work Driven by Supply or Demand? Evidence from Finnish Manufacturing Industries

Böckerman, Petri; Jäntti, Markus - EconWPA - 2005

This paper uses panel data from 1989 to 1995 on blue-collar workers in Finnish manufacturing industries and their establishments to assess the extent to which hours of work are affected by individual or establishment characteristics - observed as well as unobserved. We argue that recent research...

Persistent link: https://www.econbiz.de/10005125720

Linear and nonlinear models for the analysis of the relationship between stock market prices and macroeconomic and financial factors

Dionisio, Andreia; Menezes, Rui; Mendes, Diana A.; … - EconWPA - 2004

The main objective of this paper is to assess how mutual information as a measure of global dependence between stock markets and macroeconomic factors can overcome some of the weaknesses of the traditional linear approaches commonly used in this context. One of the advantages of mutual...

Persistent link: https://www.econbiz.de/10005119091

Does a Soft Macroeconomic Environment Induce Restructuring on the Microeconomic Level during the Transition Period? Evidence from Investment Behavior of Czech Enterprises

Lizal, Lubomir - EconWPA - 2001

The paper analyzes investment behavior of industrial enterprises in the period immediately following price and foreign trade liberalization in the Czech Republic. It also focuses on the effect of Asoft@ macroeconomic environment on the microeconomic decisions. A dynamic investment function with...

Persistent link: https://www.econbiz.de/10005118676

Flexibility and Technology Choice in Gas Fired Power Plant Investments

Näsäkkälä, Erkka; Fleten, Stein- Erik - EconWPA - 2004

The value of a gas fired power depends on the spark spread, defined as the difference between the price of electricity and the cost of gas used for the generation of electricity. We model the spark spread using a two-factor model, allowing mean-reversion in short-term variations and uncertainty...

Persistent link: https://www.econbiz.de/10005118874

Aggregate investment dynamics when firms face fixed investment cost and capital market imperfections

Bayer, Christian - EconWPA - 2004

In this paper a model of aggregate investment is derived which incorporates fixed investment costs and capital market imperfections on the micro-level. Aggregate investment reacts nonlinearily with respect to aggregate shocks to productivity and liquidity of firms. Employing non-parametric...

Persistent link: https://www.econbiz.de/10005119110

Aggregate investment dynamics when firms face fixed investment cost and capital market imperfections

Bayer, Christian - EconWPA - 2004

This paper analyzes a model of investment with fixed investment costs and capital market imperfections. In this model finance influences the level of capital firms hold, as well as the frequency at which they invest. In consequence investment reacts nonlinearly with respect to shocks to...

Persistent link: https://www.econbiz.de/10005076705

Royalty rates, sub licensing considerations and joint ventures.

Malki, Elli - EconWPA - 1997

Technology transfer agreements between universities and industrial companies usually involve royalties, sublicensing considerations and allocation of equity. This article extends the analysis of my previous one ("The Economic Sense of Royalty Rates", ewp-fin/970903)to deal with sublicensing...

Persistent link: https://www.econbiz.de/10005076945

General option exercise rules, with applications to embedded options and monopolistic expansion

Boyarchenko, Svetlana; Levendorskii, Sergei - EconWPA - 2005

This paper provides a general framework for pricing of real options in continuous time for wide classes of payoff streams that are functions of Levy processes. As applications, we calculate the option values of multi-stage investment/disinvestment problems (sequences of embedded options, which...

Persistent link: https://www.econbiz.de/10005076973