University of Surrey

Test tubes in the lab Research in the ATI Dance Research

Contrasts between classes of assets in fixed investment panel equations as a way of testing real option theory

Driver, C, Imai, K, Temple, P and Urga, G Contrasts between classes of assets in fixed investment panel equations as a way of testing real option theory .

Full text not available from this repository.

Abstract

This paper reports estimation of investment equations for two classes of fixed assets: plant & machinery and building for a large sample of UK manufacturing industries. It exploits the different degree of irreversibility that characterises these assets to test the power of real options theory to explain investment under uncertainty. Additionally, the paper uses a specially constructed industry-specific measure of irreversibility for plant and machinery investment to test for real options effects within that class of investment.

Item Type: Other
Authors :
NameEmailORCID
Driver, CUNSPECIFIEDUNSPECIFIED
Imai, KUNSPECIFIEDUNSPECIFIED
Temple, Pp.temple@surrey.ac.ukUNSPECIFIED
Urga, GUNSPECIFIEDUNSPECIFIED
Uncontrolled Keywords : E22, C23, Investment, Industry, Irreversibility, Real Options, Uncertainty
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:14
Last Modified : 17 May 2017 14:33
URI: http://epubs.surrey.ac.uk/id/eprint/818206

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year


Information about this web site

© The University of Surrey, Guildford, Surrey, GU2 7XH, United Kingdom.
+44 (0)1483 300800