In a continuous-time framework we study the technology and investment choice problem of a continuous co … flexible technology allowing for such option. Investment is irreversible and flexibility is costly. The problem is solved … determining in the light of future prospects the optimal revision and then playing backward fixing the investment timing rule …

In the literature investigating the impact of uncertainty on short-run and long-run investment, most authors have used … general ones and has the advantage of providing closed form solutions for both short-run investment rule and long-run rate of …

perspective that focuses on capital accumulation with investment irreversibility. We show that if 1) direct irreversibility of … investment does not rule out the indirect channel of converting dirty capital goods into clean ones through final goods … environmental regulation, through directing investment towards clean capital, does not necessarily leads to asset stranding of dirty …

exposure and, probably as a consequence, boards in carbon intensive companies use dividend policies to attract investment in …