منابع مشابه
Heterogeneous Parameter Uncertainty and the Timing of Investment during Crisis
We present a model in which investors observe the same macroeconomic data but have varying levels of information about the parameters that determine the distribution of the expected returns on investment. During a crisis that increases macroeconomic uncertainty and reduces asset prices, the threshold required return that triggers investment is lower for an informed investor than for an uninform...
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Without capital market imperfections, the capital structure of a firm, including the size, the maturity and the currency composition of debts, should not matter for investment decisions. The Asian financial crises provide a good opportunity to test this hypothesis. We approach the problem in two ways: First, we apply a conventional reduced-form analysis to a panel data of Korean manufacturing f...
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ژورنال
عنوان ژورنال: Business Strategies
سال: 2015
ISSN: 2311-7184
DOI: 10.17747/2311-7184-2015-6-1