The risk of infrastructure investments is driven by unique factors that cannot be well described by standard asset … class factor models. We thus create a nine-factor model based on infrastructure-specific risk exposure, i.e., market risk …, size, value, momentum, cashflow volatility, leverage, investment growth, term risk, and default risk. We empirically test …

Limited empirical studies have disaggregated the government spending into infrastructure and consumption expenditures … highways, road, ports, fiber optic, standard gauge railway, and massive investment in road management and maintenance. All … Kenyan government. The aim of this research was to investigate the role of infrastructure sector spending on private …

In the telecommunications industry, the ladder-of-investment approach claims that service-based competition (when … ladder-of-investment, composed of three rungs: bitstream access, local loop unbundling and new access facilities. Using data … test the ladder-of-investment hypothesis. We find no empirical support for this hypothesis, that is, for the transition …