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Capital Budgeting with Taxes under Uncertainty and Irreversibility / Investitionsplanung mit Steuern bei Unsicherheit und Irreversibilität
Niemann, Rainer; Sureth, Caren - In: Jahrbücher für Nationalökonomie und Statistik 225 (2005) 1, pp. 77-95
neutrality and risk aversion for irreversible investment projects. Integrating taxes into real option theory, it can be shown … irreversiblen Investitionen unter Risikoneutralität und Risikoaversion. Durch Integration der Besteuerung in realoptionsbasierte … Risikoneutralität zu identischen Investitionsentscheidungen führen. Unter Risikoaversion dagegen benötigt contingent claims analysis ein …
Persistent link: https://www.econbiz.de/10014609028
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Structures of Corporate Finance in Germany and France. A Comparative Analysis for West German and French Incorporated Enterprises / Strukturen der Unternehmensfinanzierung in Deuts...
Friderichs, Hans; Paranque, Bernard - In: Jahrbücher für Nationalökonomie und Statistik 221 (2001) 5-6, pp. 648-671
of capital structure theory with particular reference to the architecture and functioning mechanisms of the corporate … dem Hintergrund der Theorie der Unternehmensfinanzierung und im Kontext theoretischer Überlegungen zum Aufbau und zur …
Persistent link: https://www.econbiz.de/10014608859
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Behavioral economic insights on index insurance design
Carter, Michael; Elabed, Ghada; Serfilippi, Elena - In: Agricultural Finance Review 75 (2015) 1, pp. 8-18
farmer behavior departs from the predictions of expected utility theory and derives the implications of these departures for …
Persistent link: https://www.econbiz.de/10014667372
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Aversion of information ambiguity and momentum effect in China’s stock market
Xu, Yuandong - In: China Finance Review International 6 (2016) 2, pp. 125-149
Purpose – The empirical studies have indicated that the information uncertainty is one of the reasons leading to the momentum effect in the stock market. Based on this conclusion, the concept of “information uncertainty” is deepened into the concept hierarchy of “information...
Persistent link: https://www.econbiz.de/10014694588
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A Simple Metric for Gauging Risk Aversion
Eisenhauer, Joseph G. - In: Asia-Pacific Journal of Risk and Insurance 4 (2010) 2
The underlying rationale for insurance purchases and other forms of risk management is aversion to risk, yet the measurement of risk aversion has been inappropriately focused on risks of little or no consequence. The present paper demonstrates that a quantitative measure of large-scale risk...
Persistent link: https://www.econbiz.de/10014585476
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On the Effect of Risk Aversion in Two-Person, Two-State Finance Economies
Berden, Caroline; Peters, Hans - In: The B.E. Journal of Theoretical Economics 7 (2008) 1
The effect of replacing an agent in a two-person two-state finance economy by a more risk averse agent is studied. It is established under which conditions the other agent benefits or looses in equilibrium from dealing with a more risk averse agent. If one agent becomes more risk averse, then...
Persistent link: https://www.econbiz.de/10014589146
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Risk Aversion and Social Networks
Kovářík, Jaromír; van der Leij, Marco J. - In: Review of Network Economics 13 (2014) 2, pp. 121-155
Abstract This paper first investigates empirically the relationship between risk aversion and social network structure in a large group of undergraduate students. We find that risk aversion is strongly correlated to local network clustering, that is, the probability that one has a social tie to...
Persistent link: https://www.econbiz.de/10014618856
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Reluctant to Reform? A Note on Risk-Loving Politicians and Bureaucrats
Thomas, Tobias; Heß, Moritz; Wagner, Gert G. - In: Review of Economics 68 (2017) 3, pp. 167-179
Abstract From a political economy perspective, politicians often fail to implement structural reforms. In this contribution we investigate if the resistance to reform is based on the differences in the risk preferences of voters, politicians, and bureaucrats. Based on three surveys among the...
Persistent link: https://www.econbiz.de/10014619353
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Risk measurement with equivalent utility principles
Denuit, Michel; Dhaene, Jan; Goovaerts, Marc; Kaas, Rob; … - In: Statistics & Risk Modeling 24 (2006) 1, pp. 1-25
under uncertainty: the classical expected utility paradigm, Yaari's dual approach, maximin expected utility theory, Choquet … expected utility theory and Quiggin's rank-dependent utility theory. Building on the actuarial equivalent utility pricing …
Persistent link: https://www.econbiz.de/10014621319
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Risk aversion in the family business: the dark side of caution
R.W. Hiebl, Martin - In: Journal of Business Strategy 35 (2014) 5, pp. 38-42
Purpose – This paper aims to shed light on the potential downsides of risk aversion in family firms. Moreover, it seeks to provide measures on how to balance risk taking and risk aversion in family businesses. Design/methodology/approach – The article first presents four “dark sides” of...
Persistent link: https://www.econbiz.de/10014847244