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Gerba, Eddie; Żochowski, Dawid - 2017

. Financial stability is achieved with an LTV-cap regulation which smooths the leverage cycles through quantity (higher equity …

Persistent link: https://www.econbiz.de/10011656163

Output and attribute-based carbon regulation under uncertainty

Kellogg, Ryan - In: Journal of public economics 190 (2020), pp. 1-12

Persistent link: https://www.econbiz.de/10012584797

The firm under uncertainty : capital structure and background risk

Broll, Udo; Wong, Keith K.P. - 2010

uncertainty. The firm faces additional sources of uncertainty that are aggregated into a background risk. We show that the firm … always chooses its optimal debt-equity ratio to minimize the weighted average cost of capital, irrespective of the risk …. When the background risk is either additive or multiplicative, we provide reasonable restrictions on the firm's preferences …

Persistent link: https://www.econbiz.de/10003971039

Crowdfunding, demand uncertainty, and moral hazard : a mechanism design approach

Strausz, Roland - 2015

Crowdfunding challenges the traditional separation between finance and marketing. It creates economic value by reducing demand uncertainty, which enables a better screening of positive NPV projects. Entrepreneurial moral hazard threatens this effect. Using mechanism design, mechanisms are...

Persistent link: https://www.econbiz.de/10011309652

The Effect of Common Ownership on Investment Decisions under Uncertainty

Baek, In Gyun - 2020

This paper examines the effects of firm-level common ownership on the level and efficiency of investment when firms face uncertainty. There is a current debate about the costs and benefits of common ownership, whereby a firm owns large stakes in multiple companies in the same industry. Critics...

Persistent link: https://www.econbiz.de/10012836263

Crowdfunding and Demand Uncertainty

Scheuch, Christoph - 2020

Reward-based crowdfunding allows entrepreneurs to sell claims on future products to finance investments and, at the same time, to generate demand information that benefits screening for viable projects. I characterize the profit-maximizing crowdfunding mechanism when the entrepreneur knows...

Persistent link: https://www.econbiz.de/10012836690

CEO Prior Uncertainty and Pay-Performance Sensitivity

Lee, Jiyoon - 2017

CEOs' pay-performance sensitivity (delta) is higher in the first year after being hired than in the following years. I explain this finding with reference to CEO prior uncertainty: due to information asymmetry and/or uncertainty about the quality of the match between a CEO and a firm, first-year...

Persistent link: https://www.econbiz.de/10012961913

Uncertainty and Exit Decisions : Evidence from Plant-Level Data

Carvalho, Daniel R. - 2018

Theory suggests that uncertainty can play an important role in determining firms' decisions to shut down operations. In this paper, I provide evidence that input-price uncertainty leads to significant and persistent reductions in plant exits in the context of Brazilian manufacturing. I analyze...

Persistent link: https://www.econbiz.de/10012936858

Production and Hedging with Optimism and Pessimism under Ambiguity

Lien, Donald D. - 2017

This paper analyzes the optimal production and hedging decisions of a competitive firm holding optimism and pessimism under price ambiguity. We show that the separation theorem remains intact as the firm's optimal output level depends neither on the output price distribution nor on the firm's...

Persistent link: https://www.econbiz.de/10012972918

Uncertainty, Capital Investment, and Risk Management

Doshi, Hitesh - 2017

firm-level capital investment, risk management, and debt issuance. The effects of uncertainty vary significantly by firm … capital investment is significantly weaker for firms that hedge their output price risk. Our analysis highlights that, in the … ability to hedge risk exposures …

Persistent link: https://www.econbiz.de/10012974060

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