We examine the relationship between real exchange rate fluctuations and firm-level investment growth using data for a sample of close to 33,000 firms from 68 advanced emerging market countries over 2000–2014 period. show that depreciations boost profits, investment, asset tradable sector have higher labor shares are relatively more financially constrained. These findings consistent with an “int...

The powerful are often more successful in pursuing their goals, as shown many studies. Does this mean that the try harder? Current theories on power do not provide a clear answer to question. Based recent findings literature and integrating from motivation psychology neuroscience, present paper presents effort investment theory of power. proposes determines following resource conservation princ...

In this paper, we demonstrate the advantage of the use of broad-based stock option plans over cash compensation when the …rm needs to …nance both current and future investment in an environment where external …nance is costly. Intuitively, the company obtains funds for investment in the current period by cutting …xed wages through the issuance of stock options. The company receives additional f...

The literature on real options theory is both diverse and rapidly expanding. Now standard techniques for the pricing of derivatives given a stochastic process for the price of underlying assets, are increasingly applied to the case of real investment in productive assets, including property development (Trigeorgis, 1996). Typically, this latter class of investments is represented as a set of op...