, where the firm quality is only known to the firm management but not outsiders. The firm decides on the optimal investment … investment strategy of being high-type in terms of investment timing and share of equity. The high-type firm may adopt the … appropriate separating strategy by speeding up investment or choosing an alternative financing choice. The resulting loss of the …

of the incumbent would accelerate the its own timing of the investment that reduces the monopolistic profit of the … incumbent. Therefore, the high-demand incumbent may delay the timing of the investment in order to hide the information …

of investment, we assume that the time window of the investment opportunity has a finite time horizon. The firm chooses … the optimal time to issue equity to raise capital for the investment project. The number of shares of equity issued to … overpriced securities through mimicking the investment strategy of the high-type firm in terms of investment timing and number of …

In this study, we analyze the investment-timing problem and introduce a model of two firms competing for investment … preemption, each of which knows in advance the time at which the economic condition that will have an impact on the investment … changes. We qualitatively show how two firms strategically optimize their investment timing, taking into account competition …