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Analytical redefinition of DOL and managerial investment decisions
Kroll, Yoram; Aharon, David Yechiam - In: Managerial Finance 40 (2014), pp. 734-754
(DOL) that reflect the impact of uncertain demand shocks in the product's market on optimal production levels, sales and … -The paper suggests two main findings. First, the analytical marginal DOL is at least twice the traditional DOL depending … on the structure of the shock, the production function and demand's elasticity. The traditional DOL is equal to the …
Persistent link: https://www.econbiz.de/10010795387
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Analytical redefinition of DOL and managerial investment decisions
Kroll, Yoram; Yechiam Aharon, David - In: Managerial Finance 40 (2014) 7, pp. 734-754
( DOL ) that reflect the impact of uncertain demand shocks in the product's market on optimal production levels, sales and … – The paper suggests two main findings. First, the analytical marginal DOL is at least twice the traditional DOL depending … on the structure of the shock, the production function and demand's elasticity. The traditional DOL is equal to the …
Persistent link: https://www.econbiz.de/10014941661
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Capital structure, product market dynamics, and the boundaries of the firm
Hackbarth, Dirk; Mathews, Richmond; Robinson, David - In: Management science : journal of the Institute for … 60 (2014) 12, pp. 2971-2993
Persistent link: https://www.econbiz.de/10010461775
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Corporate investment, financing, and exit model with an earnings-based borrowing constraint
Nishihara, Michi; Shibata, Takashi; Zhang, Chuanqian - 2021
Persistent link: https://www.econbiz.de/10012799515
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Debt maturity choices, multi-stage investments and financing constraints
Agliardi, Elettra; Koussis, Nicos - 2014
We develop a dynamic investment options framework with optimal capital structure and analyze the effect of debt maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most literature results, in the absence of constraints, higher...
Persistent link: https://www.econbiz.de/10011716006
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Optimal investment and financial strategies under tax rate uncertainty
Fedele, Alessandro; Panteghini, Paolo; Vergalli, Sergio - 2010 - Current version: March 23, 2010
In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment projects. By letting a representative firm borrow optimally, we show that debt...
Persistent link: https://www.econbiz.de/10008729101
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Optimal Investment and Financial Strategies under Tax Rate Uncertainty
Fedele, Alessandro; Panteghini, Paolo; Vergalli, Sergio - 2010
In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment project. By letting a representative firm borrow optimally, we show that debt...
Persistent link: https://www.econbiz.de/10003965108
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Optimal investment and financial strategies under tax-rate uncertainty
Fedele, Alessandro; Panteghini, Paolo; Vergalli, Sergio - In: German economic review 12 (2011) 4, pp. 438-468
Persistent link: https://www.econbiz.de/10009373032
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Investment-based financing constraints and debt renegotiation
Shibata, Takashi; Nishihara, Michi - In: Journal of banking & finance 51 (2015), pp. 79-92
Persistent link: https://www.econbiz.de/10011377269
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The effects of risky debt on investment under uncertainty
You, Seung Dong - In: Asia-Pacific journal of financial studies 42 (2013) 1, pp. 39-55
Persistent link: https://www.econbiz.de/10009726559