This paper compares the impacts of traditional one-way access obligations and the new regulatory scheme of co-investment … reduces the returns from investment, and second because in the presence of uncertainty it provides access seekers with an … option whose exercise hurts investors. Co-investment without access obligations leads to risk sharing and eliminates the …

This paper compares the impacts of traditional one‒way access obligations and the new regulatory scheme of co-investment … reduces the returns from investment, and second because in the presence of uncertainty it provides access seekers with an … option whose exercise hurts investors. Co-investment without access obligations leads to risk sharing and eliminates the …

We investigate the impact of regulatory risk on vertical integration and upstream investment by a regulated firm that … a regulatory policy that promotes the regulated firm's unobservable investment effort. We show that, when the regulator … ante socially beneficial. Regulatory risk makes vertical integration profitable and stimulates upstream investment at a …

believe that sectors without well-developed financial markets will benefit from sector-specific regulation of investment …

' investment in low carbon technologies. We develop a three period sequential model that combines the two sectors regulated by the … scheme and encompasses both irreversible and reversible investment possibilities for the firms. Additionally, we explicitly … endogenous price of permits. We find that uncertainty reduces irreversible investment and that the availability of both types of …

Government subsidies are often used to stimulate environment-friendly investment. We find that Chinese firms reduce … green investment as the uncertainty of subsidies rises. This effect is identified from weather-driven fluctuations in air … engage in less green R&D investment, patent applications, and research staff. Industries that are heavy emitters and those …