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Investment timing, agency, and information

Citations

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Cited by:

  1. Arve, Malin & Zwart, Gijsbert, 2023. "Optimal procurement and investment in new technologies under uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).
  2. Michi Nishihara, 2009. "Preemptive Investment Game with Alternative Projects," Discussion Papers in Economics and Business 09-16, Osaka University, Graduate School of Economics.
  3. Shibata, Takashi, 2009. "Investment timing, asymmetric information, and audit structure: A real options framework," Journal of Economic Dynamics and Control, Elsevier, vol. 33(4), pages 903-921, April.
  4. Lambrecht, Bart & Chen, Shiqi, 2019. "Financial Policies and Internal Governance with Heterogeneous Risk Preferences," CEPR Discussion Papers 13888, C.E.P.R. Discussion Papers.
  5. Maarten van Oosterhout & Gijsbert Zwart, 2023. "Distortions in Investment Timing and Quantity in Real Options with Asymmetric Information," De Economist, Springer, vol. 171(4), pages 347-365, December.
  6. Peter Broer & Gijsbert Zwart, 2013. "Optimal regulation of lumpy investments," Journal of Regulatory Economics, Springer, vol. 44(2), pages 177-196, October.
  7. Marius Guenzel & Ulrike Malmendier, 2020. "Behavioral Corporate Finance: The Life Cycle of a CEO Career," NBER Working Papers 27635, National Bureau of Economic Research, Inc.
  8. Keiichi Hori & Hiroshi Osano, 2017. "Agency Contracts, Noncommitment Timing Strategies and Real Options," The Japanese Economic Review, Springer, vol. 68(4), pages 521-554, December.
  9. Hornstein, Abigail S., 2011. "Where a contract is signed determines its value: Chinese provincial variation in utilized vs. contracted FDI flows," Journal of Comparative Economics, Elsevier, vol. 39(1), pages 92-107, March.
  10. Nishihara, Michi & Shibata, Takashi, 2011. "The effects of costly exploration on optimal investment timing," Review of Financial Economics, Elsevier, vol. 20(3), pages 105-112, August.
  11. Jin Hyuk Choi & Kookyoung Han, 2023. "Delegation of information acquisition, information asymmetry, and outside option," International Journal of Game Theory, Springer;Game Theory Society, vol. 52(3), pages 833-860, September.
  12. Silaghi, Florina & Sarkar, Sudipto, 2021. "Agency problems in public-private partnerships investment projects," European Journal of Operational Research, Elsevier, vol. 290(3), pages 1174-1191.
  13. Miao, Jianjun & Wang, Neng, 2007. "Investment, consumption, and hedging under incomplete markets," Journal of Financial Economics, Elsevier, vol. 86(3), pages 608-642, December.
  14. Agliardi, Elettra & Andergassen, Rainer, 2009. "Last resort gambles, risky debt and liquidation policy," Review of Financial Economics, Elsevier, vol. 18(3), pages 142-155, August.
  15. Li, Yanzhao & Guo, Ju-e & Li, Yongwu & Zhang, Jinggong, 2024. "Intensified distortion: Investment decisions with endogenous contracts and time inconsistency," Finance Research Letters, Elsevier, vol. 65(C).
  16. Niemann, Rainer & Sureth-Sloane, Caren, 2015. "Investment effects of wealth taxes under uncertainty and irreversibility," arqus Discussion Papers in Quantitative Tax Research 192, arqus - Arbeitskreis Quantitative Steuerlehre.
  17. Szydlowski, Martin, 2019. "Incentives, project choice, and dynamic multitasking," Theoretical Economics, Econometric Society, vol. 14(3), July.
  18. Zhang, Ran & Xu, Shuang, 2014. "Optimal stopping time with stochastic volatility," Economic Modelling, Elsevier, vol. 41(C), pages 319-328.
  19. Guthrie, Graeme & Hobbs, Cameron, 2021. "How managerial ownership and the market for corporate control can improve investment timing," Journal of Banking & Finance, Elsevier, vol. 128(C).
  20. A. Mantovi, 2009. "Long run value stabilization in a real options perspective," Economics Department Working Papers 2009-EP01, Department of Economics, Parma University (Italy).
  21. Qiuqi Wang & Yue Kuen Kwok, 2019. "Signaling game models of equity financing under information asymmetry and finite project life," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 6(01), pages 1-38, March.
  22. Billette de Villemeur, Etienne & Ruble, Richard & Versaevel, Bruno, 2014. "Investment timing and vertical relationships," International Journal of Industrial Organization, Elsevier, vol. 33(C), pages 110-123.
  23. Malmendier, Ulrike M. & Guenzel, Marius, 2020. "Behavioral Corporate Finance: The Life Cycle of a CEO Career," CEPR Discussion Papers 15103, C.E.P.R. Discussion Papers.
  24. Gao, Yongling & Driouchi, Tarik & Bennett, David J., 2018. "Ambiguity aversion in buyer-seller relationships: A contingent-claims and social network explanation," International Journal of Production Economics, Elsevier, vol. 200(C), pages 50-67.
  25. Knetsch, Andreas & Salzmann, Astrid, 2022. "Societal trust and corporate underinvestment," Global Finance Journal, Elsevier, vol. 54(C).
  26. Nishihara, Michi & Fukushima, Masao, 2008. "Evaluation of firm's loss due to incomplete information in real investment decision," European Journal of Operational Research, Elsevier, vol. 188(2), pages 569-585, July.
  27. Yu-En Lin & Hsiang-Hsuan Chih & Chia-Hsin Cheng & Yan-Qing Ku, 2016. "Market Competition, Arbitrage Risk, And Capital Structure: Evidence From Taiwan," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 11(01), pages 1-11, March.
  28. Morellec, Erwan & Schürhoff, Norman, 2011. "Corporate investment and financing under asymmetric information," Journal of Financial Economics, Elsevier, vol. 99(2), pages 262-288, February.
  29. Nishihara, Michi & Shibata, Takashi, 2013. "The effects of external financing costs on investment timing and sizing decisions," Journal of Banking & Finance, Elsevier, vol. 37(4), pages 1160-1175.
  30. Jing, Wei & Zhang, Xueyong, 2021. "Online social networks and corporate investment similarity," Journal of Corporate Finance, Elsevier, vol. 68(C).
  31. Zheng, Shiyuan & Jiang, Changmin & Fu, Xiaowen & Ge, Ying-En & Shu, Jia, 2022. "Subsidies for green technology adoption under uncertain demand and incomplete information," Omega, Elsevier, vol. 112(C).
  32. Gryglewicz, Sebastian & Huisman, Kuno J.M. & Kort, Peter M., 2008. "Finite project life and uncertainty effects on investment," Journal of Economic Dynamics and Control, Elsevier, vol. 32(7), pages 2191-2213, July.
  33. Manuel Adelino & Kristopher Gerardi & Barney Hartman-Glaser, 2016. "Are Lemons Sold First? Dynamic Signaling in the Mortgage Market," FRB Atlanta Working Paper 2016-8, Federal Reserve Bank of Atlanta.
  34. Guthrie, Graeme, 2007. "Missed Opportunities: Optimal Investment Timing When Information is Costly," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 42(2), pages 467-488, June.
  35. Hazer Inaltekin & Robert Jarrow & Mehmet Saglam & Yildiray Yildirim, 2009. "Housing Market Microstructure," Papers 0907.1853, arXiv.org.
  36. repec:rim:rimwps:31-07 is not listed on IDEAS
  37. Kanagaretnam, Kiridaran & Sarkar, Sudipto, 2011. "Managerial compensation and the underinvestment problem," Economic Modelling, Elsevier, vol. 28(1), pages 308-315.
  38. Roman Inderst & Sebastian Pfeil, 2013. "Securitization and Compensation in Financial Institutions," Review of Finance, European Finance Association, vol. 17(4), pages 1323-1364.
  39. Andrikopoulos, Andreas, 2009. "Irreversible investment, managerial discretion and optimal capital structure," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 709-718, April.
  40. Etienne Billette de Villemeur & Richard Ruble & Bruno Versaevel, 2011. "Coordination and Cooperation in Investment Timing with Externalities?," Working Papers 1128, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
  41. Bolton, Patrick & Wang, Neng & Yang, Jinqiang, 2019. "Investment under uncertainty with financial constraints," Journal of Economic Theory, Elsevier, vol. 184(C).
  42. Shibata, Takashi & Nishihara, Michi, 2018. "Investment timing, reversibility, and financing constraints," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 771-796.
  43. Eberhard Feess & Ansgar Wohlschlegel, 2018. "Bank capital requirements and mandatory deferral of compensation," Journal of Regulatory Economics, Springer, vol. 53(2), pages 206-242, April.
  44. Rainer Niemann & Caren Sureth-Sloane, 2019. "Investment timing effects of wealth taxes under uncertainty and irreversibility," Journal of Business Economics, Springer, vol. 89(4), pages 385-415, June.
  45. Cardoso, David & Pereira, Paulo J., 2015. "A compensation scheme for optimal investment decisions," Finance Research Letters, Elsevier, vol. 14(C), pages 150-159.
  46. Paul Décaire & Erik P. Gilje & Jérôme P. Taillard, 2019. "Real Option Exercise: Empirical Evidence," NBER Working Papers 25624, National Bureau of Economic Research, Inc.
  47. Viviani, Jean-Laurent & Lai, Anh-Ngoc & Louhichi, Waël, 2018. "The impact of asymmetric ambiguity on investment and financing decisions," Economic Modelling, Elsevier, vol. 69(C), pages 169-180.
  48. Zormpas, Dimitrios, 2020. "Investments under vertical relations and agency conflicts: A real options approach," International Review of Economics & Finance, Elsevier, vol. 70(C), pages 273-287.
  49. de La Bruslerie, Hubert, 2016. "Does debt curb controlling shareholders' private benefits? Modelling in a contingent claim framework," Economic Modelling, Elsevier, vol. 58(C), pages 263-282.
  50. Cui, Xue & Shibata, Takashi, 2017. "Investment strategies, reversibility, and asymmetric information," European Journal of Operational Research, Elsevier, vol. 263(3), pages 1109-1122.
  51. Wong, Kit Pong, 2007. "The effect of uncertainty on investment timing in a real options model," Journal of Economic Dynamics and Control, Elsevier, vol. 31(7), pages 2152-2167, July.
  52. Sels, A.T.H., 2006. "Foreign direct investment as an entry mode. An application in emerging economies," Other publications TiSEM 583ca9b5-1691-425d-8f77-0, Tilburg University, School of Economics and Management.
  53. Suresh Sundaresan & Neng Wang & Jinqiang Yang, 2015. "Dynamic Investment, Capital Structure, and Debt Overhang," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 4(1), pages 1-42.
  54. Nishihara, Michi & Shibata, Takashi, 2019. "Liquidation, fire sales, and acquirers’ private information," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
  55. Bart M. Lambrecht & Grzegorz Pawlina, 2010. "Corporate Finance and the (In)efficient Exercise of Real Options," Multinational Finance Journal, Multinational Finance Journal, vol. 14(3-4), pages 189-217, September.
  56. Shibata, Takashi & Nishihara, Michi, 2010. "Dynamic investment and capital structure under manager-shareholder conflict," Journal of Economic Dynamics and Control, Elsevier, vol. 34(2), pages 158-178, February.
  57. Jean-Paul Décamps & Stéphane Villeneuve, 2007. "Optimal dividend policy and growth option," Finance and Stochastics, Springer, vol. 11(1), pages 3-27, January.
  58. Shibata, Takashi, 2008. "The impacts of uncertainties in a real options model under incomplete information," European Journal of Operational Research, Elsevier, vol. 187(3), pages 1368-1379, June.
  59. Song, Dandan & Luo, Pengfei & Yang, Jingjing, 2020. "Investment and capital structure decisions with strategic debt service under asymmetric information," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
  60. Joril Maeland, 2010. "Asymmetric Information and Irreversible Investments: an Auction Model," Multinational Finance Journal, Multinational Finance Journal, vol. 14(3-4), pages 255-289, September.
  61. Shibata, Takashi & Tian, Yuan, 2012. "Debt reorganization strategies with complete verification under information asymmetry," International Review of Economics & Finance, Elsevier, vol. 22(1), pages 141-160.
  62. Kim, Hwa-Sung, 2020. "Investment decisions and debt financing under information uncertainty," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
  63. Lambrecht, Bart M., 2017. "Real options in finance," Journal of Banking & Finance, Elsevier, vol. 81(C), pages 166-171.
  64. Henderson, Vicky, 2010. "Is corporate control effective when managers face investment timing decisions in incomplete markets?," Journal of Economic Dynamics and Control, Elsevier, vol. 34(6), pages 1062-1076, June.
  65. Yrjö Koskinen & Joril Maeland, 2016. "Innovation, Competition, and Investment Timing," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 5(2), pages 166-199.
  66. repec:vuw:vuwscr:19091 is not listed on IDEAS
  67. Hori, Keiichi & Osano, Hiroshi, 2014. "Investment timing decisions of managers under endogenous contracts," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 607-627.
  68. Jianjun Miao & Neng Wang, 2004. "Investment, Hedging, and Consumption Smoothing," Finance 0407014, University Library of Munich, Germany.
  69. George W. Blazenko & Andrey D. Pavlov, 2010. "Investment Timing for New Business Ventures," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 14(3), pages 37-68, Fall.
  70. Buso, Marco & Moretto, Michele & Zormpas, Dimitrios, 2021. "Excess returns in Public-Private Partnerships: Do governments pay too much?," Economic Modelling, Elsevier, vol. 102(C).
  71. Lin William Cong, 2020. "Timing of Auctions of Real Options," Management Science, INFORMS, vol. 66(9), pages 3956-3976, September.
  72. Winston Wei Dou & Yan Ji, 2021. "External Financing and Customer Capital: A Financial Theory of Markups," Management Science, INFORMS, vol. 67(9), pages 5569-5585, September.
  73. Banerjee, Shantanu & Güçbilmez, Ufuk & Pawlina, Grzegorz, 2014. "Optimal exercise of jointly held real options: A Nash bargaining approach with value diversion," European Journal of Operational Research, Elsevier, vol. 239(2), pages 565-578.
  74. Shibata, Takashi & Nishihara, Michi, 2023. "Optimal financing and investment strategies under asymmetric information on liquidation value," Journal of Banking & Finance, Elsevier, vol. 146(C).
  75. Takahiro Watanabe, 2012. "Real Options and Signaling in Strategic Investment Games," KIER Working Papers 809, Kyoto University, Institute of Economic Research.
  76. Huang, Hsing-Hua & Huang, Hongming & Shih, Pai-Ta, 2012. "Real options and earnings-based bonus compensation," Journal of Banking & Finance, Elsevier, vol. 36(8), pages 2389-2402.
  77. Biao Chen & Jinqiang Yang & Chuanqian Zhang, 2021. "Corporate investment and financing with uncertain growth opportunities," International Review of Finance, International Review of Finance Ltd., vol. 21(3), pages 821-842, September.
  78. Fang, Dawei, 2019. "Dry powder and short fuses: Private equity funds in emerging markets," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 48-71.
  79. Panova, Elena & Garrett, Daniel F., 2023. "Regulating investments when both costs and need are private," TSE Working Papers 23-1429, Toulouse School of Economics (TSE).
  80. Strebulaev, Ilya A. & Whited, Toni M., 2012. "Dynamic Models and Structural Estimation in Corporate Finance," Foundations and Trends(R) in Finance, now publishers, vol. 6(1–2), pages 1-163, November.
  81. F. Wu & H. Li & L. Chu & D. Sculli & K. Gao, 2009. "An approach to the valuation and decision of ERP investment projects based on real options," Annals of Operations Research, Springer, vol. 168(1), pages 181-203, April.
  82. Акинфиев Валерий Константинович, 2016. "Моделирование Инвестиционных Стратегий Компаний В Условиях Неопределённости," Управление большими системами: сборник трудов, CyberLeninka;Федеральное государственное бюджетное учреждение науки Институт проблем управления им. В.А. Трапезникова РАН, issue 61, pages 136-167.
  83. Löffler, Clemens & Pfeiffer, Thomas & Schneider, Georg, 2012. "Controlling for supplier switching in the presence of real options and asymmetric information," European Journal of Operational Research, Elsevier, vol. 223(3), pages 690-700.
  84. Liu, Jianhua & Liu, Jingjun & Tang, Zhenyang & Xu, Yue, 2024. "Provincial economic growth and firm excess investment: Evidence from China," Economic Modelling, Elsevier, vol. 137(C).
  85. He, Mingfeng & Huang, Dengshi & Zhou, Jianan, 2023. "The impacts of share pledging on firm investment timing and valuation," International Review of Financial Analysis, Elsevier, vol. 87(C).
  86. Timothy Fogarty & Michel Magnan & Garen Markarian & Serge Bohdjalian, 2009. "Inside Agency: The Rise and Fall of Nortel," Journal of Business Ethics, Springer, vol. 84(2), pages 165-187, January.
  87. Guthrie, Graeme, 2005. "Missed Opportunities: Optimal Investment Timing when Information is Costly," Working Paper Series 19091, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
  88. Hori, Keiichi & Osano, Hiroshi, 2009. "Optimal timing of management turnover under agency problems," Journal of Economic Dynamics and Control, Elsevier, vol. 33(12), pages 1962-1980, December.
  89. Sebastian Gryglewicz & Barney Hartman-Glaser & Geoffery Zheng, 2020. "Growth Options, Incentives, and Pay for Performance: Theory and Evidence," Management Science, INFORMS, vol. 66(3), pages 1248-1277, March.
  90. Shibata, Takashi & Nishihara, Michi, 2011. "Interactions between investment timing and management effort under asymmetric information: Costs and benefits of privatized firms," European Journal of Operational Research, Elsevier, vol. 215(3), pages 688-696, December.
  91. Kit Pong Wong, 2023. "A regret theory of investment timing under asymmetric information," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(3), pages 1669-1677, April.
  92. Chen, Chen-Wen & Liu, Victor W., 2013. "Corporate governance under asymmetric information: Theory and evidence," Economic Modelling, Elsevier, vol. 33(C), pages 280-291.
  93. Brian Mittendorf, 2004. "Information Revelation, Incentives, and the Value of a Real Option," Management Science, INFORMS, vol. 50(12), pages 1638-1645, December.
  94. Adelino, Manuel & Gerardi, Kristopher & Hartman-Glaser, Barney, 2019. "Are lemons sold first? Dynamic signaling in the mortgage market," Journal of Financial Economics, Elsevier, vol. 132(1), pages 1-25.
  95. Rainer Niemann & Caren Sureth-Sloane, 2015. "Investment Effects of Wealth Taxes under Uncertainty and Irreversibility," CESifo Working Paper Series 5610, CESifo.
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