Due to the high level of uncertainty of research and development (R&D) investment projects, such projects are undertaken by stages. At different points in time those projects are reviewed as options to continue or abandon them arise. This decision depends upon signals provided by the projects...

Due to the high level of uncertainty of research and development (R&D) investment projects, such projects are undertaken by stages. At different points in time those projects are reviewed as options to continue or abandon them arise. This decision depends upon signals provided by the projects...

We evaluate the empirical significance of the effects of uncertainty on investment analizing panel data for public mexican companies from the 1997-2007 period, we found ambiguos effects: the impact on small and medium size companies investments is negative, while at large companies, the effect...