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 …

how capital tax uncertainty affects investment timing. However, it is well known that both uncertainty and capital tax may …Tax uncertainty is often claimed to be harmful for investments. Capital taxes, such as property and wealth taxes, are … particularly exposed to tax uncertainty. Capital tax uncertainty emerges from expected tax reforms, the unclear outcome of future …

shown that if taxation affects the optimal timing of irreversible investment, then the discrete choice is distorted as well …

mitigate the effect of tax rate uncertainty on investment timing. -- capital levy ; corporate taxation ; default risk ; real …In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing …

mitigate the effect of tax rate uncertainty on investment timing. -- Capital Levy ; Corporate Taxation ; Default Risk ; Real …In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing …