Alleviating the urban heat-island effect (UHI) is one of the important means to meet energy conservation and pollution reduction targets by demand side. Rational architectural layout and landscape design are significant measures to achieve building energy efficiency and sustainable building. In...

The paper tests a standard real options model of investment using a data set of listed Dutch manufacturing firms over the period of 1984-1997. The threshold value that triggers investment is based on the historical distribution of the profit process and the risk-adjusted discount rate of the...

We examine the investment-uncertainty relationship for a panel of Dutch manufacturing firms. The system generalised method of moments (GMM) estimates suggests that the effect of uncertainty on investment is non-linear: for low levels of uncertainty an increase in uncertainty has a positive...

This paper presents a threshold uncertainty investment model for Dutch firms. The proposed uncertainty measure is constructed as an empirical proxy for the standard real options multiple. The uncertainty measure serves as the threshold variable in estimating a piecewise linear accelerator...

This paper analyses inventory investment using a balanced panel of 82 Dutch firms. We start from the Lovell (1961) inventory model and amend it with cash flow to introduce capital market imperfections. The empirical evidence provides support for the relevance of capital market imperfections in...

Nonlinear effects of debt on investment are investigated using an unbalanced panel of 94 Dutch listed nonfinancial firms during the period 1985-2000. Evidence shows that the nonlinear relation between debt and investment can be represented by a U curve, which contradicts the financial...

We reveal motivations of Chinese firms for issuing Seasoned Equity Offerings (SEO) by examining why firms change the use of SEO proceeds and how they use unspecified SEO proceeds. Using 533 SEOs issued by Chinese firms during 1999-2006, we find that firms do not use unspecified SEO proceeds on...

China's growth model suggests that the 2008 financial crisis may have affected the Chinese economy differently from what one observes in mature market economies. In this paper, we examine how Chinese corporate investment responded to the financial crisis by using 1689 listed nonfinancial firms...