Tax planners often choose debt over equity financing. As this has led to increased corporate debt financing, many countries have introduced thin capitalization rules to secure their tax revenues. In a general capital structure model we analyze if thin capitalization rules affect dividend and...

The financial structure reflects the method of financing be it from the company’s own or borrowed resources. Adopting a certain financial structure represents an important aspect of the financing policy of any company that aims at maximizing its market value, in a competitive economy. An...

The objective of the present dissertation is to propose a theoretical model of the decision to invest under a Public-Private Partnership (PPP) contract and to test empirically both the determinants of such investment and its economic impact.The basic theoretical model proposed in the...

We provide a strategic rationale for growth options under uncertainty and imperfect competition. In a market with strategic competition, investment confers a greater capability to take advantage of future growth opportunities. This strategic advantage leads to the capture of a greater share of...

We provide a strategic rationale for growth options under uncertainty and imperfect corn-petition. In a market with strategic competition, investment confers a greater capability to take advantage of future growth opportunities. This strategic advantage leads to the capture of a greater share of...

This paper develops a framework to link the expected utility analysis to real options models in order to capture the joint effects of risk aversion and irreversibility associated with real investments. It aims at modifying the theory of investment under uncertainty by incorporating decision...

This paper discusses the real options approach to investment. Real options facilitate an analysis of investment under uncertainty explicitly taking into account irreversibility of the investment decision and flexibility with respect to the investment timing. This is achieved by exploiting the...

Strategic management of the firm includes the strategic management of information technology in the context of business relationships. Firms do not exist in isolation. Multiple constituents make up a relationship network that constitutes the vital resources needed to fulfil the mission of a...

We study competitive interaction between profit-maximizing firms thatsell software and complementary goods or services. In addition totactical price competition, we allow firms to compete through businessmodel reconfigurations. We consider three business models: theproprietary model (where all...

Key topics: Since the birth of the Open Source movement in the mid-80's, open source software has become more and more widespread. Amongst others, the Linux operating system, the Apache web server and the Firefox internet explorer have taken substantial market shares to their proprietary...