Similar Search Results

Carbon lock-in : the role of expectations

Meijden, Gerard van der; Smulders, Sjak - 2014

We argue that expectations about future energy use affect the transition from fossil fuels to renewable substitutes, because of an interaction between innovation and resource scarcity. The paper presents a model of directed technical change to study this interaction. We find that resource-saving...

Persistent link: https://www.econbiz.de/10010390082

Emission pricing and capital replacement : evidence from aircraft fleet renewal

Jong, Gerben de - 2022

This paper empirically studies how emission pricing affects capital replacement and adoption of embodied environmental technology. A pricing policy encourages firms to accelerate retirement of old capital assets and replace them with newer more efficient assets, but this may crowd out...

Persistent link: https://www.econbiz.de/10013359048

The pricing of climate transition risk in Europe's equity market

Loyson, Philippe; Luijendijk, Rianne; Wijnbergen, Sweder van - 2023

We assess whether climate transition risk is priced in Europe's equity market by analysing relative equity returns of high versus low CO2-emitting firms. We use a panel data set covering firm-specific carbon emissions of 1,555 European companies over the period 2005-2019. We add to the existing...

Persistent link: https://www.econbiz.de/10014317319

Consolidation waves

Berg, Ward A. van den; Smit, Han T. J. - 2007

This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is … initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is … accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial …

Persistent link: https://www.econbiz.de/10011372521

Acquisitions as a real options bidding game

Smit, Han T. J.; Berg, Ward A. van den; De Maeseneire, … - 2005

expected target value, and uncertainty, determine value appropriation in acquisitions. …

Persistent link: https://www.econbiz.de/10011337396

The political economy of dominant investors

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011337975

Corporate acquisitions and bank relationships

Volosovych, Vadym; Poelhekke, Steven; Vlahu, Razvan - 2021

dynamics of bank relationships after corporate acquisitions and the effects of changing banks on firm performance. Foreign …

Persistent link: https://www.econbiz.de/10012621574

Winning by losing : evidence on overbidding in mergers

Malmendier, Ulrike; Moretti, Enrico; Peters, Florian - 2011

Persistent link: https://www.econbiz.de/10010191090

Taking time seriously : implications for optimal climate policy

Grubb, Michael; Lange, Rutger-Jan; Cerkez, Nicolas; … - 2020

Induced innovation and associated issues of path dependence and inertia are of critical importance in the transition to a carbon free economy. We develop a model that, instead of modeling these processes themselves, models the implications of these characteristics and in the process allows us to...

Persistent link: https://www.econbiz.de/10012404201

Dynamic determinants of optimal global climate policy

Grubb, Michael; Lange, Rutger-Jan; Cerkez, Nicolas; … - 2023 - Revision: September 2023

We explore how optimal emission abatement trajectories are affected by dynamic characteristics of greenhouse-gas emitting systems, such as inertia, induced innovation, and pathdependency, by formulating a compact and analytically tractable model with stylized damage assumptions to derive the...

Persistent link: https://www.econbiz.de/10014369562

1
2
3
4
5
6
7
8
9
Next
Last