Recently studies have suggested that growth opportunities possessed by a firm can be regarded as real options and applied contingent-claims analysis to evaluate them in conjunction with the firm's operating environment (see Stulz, 1982; Baldwin, Mason and Ruback, 1983; Kester, 1984 and 1986; Brennan and Schwartz, 1985; Mason and Merton, 1985; Majd and Pindyck, 1987; Pindyck, 1988; and Chung and...

This paper aims to reconcile the logic behind stochastic models of firm growth and the notion of organizational capabilities as drivers of economic performance. In the proposed behavioral model of bounded rational firms, two mechanisms drive growth: independent stochastic growth of individual opportunities and the process by which firms capture new opportunities. To extend the stochastic framew...

This paper investigates the tensions that exist in young and growing technology-based firms between (1) increasing technological opportunities for further growth and (2) the costs of developing these opportunities. Data from 70 medium-sized, young technology-based firms were used to test two hypotheses concerning changes in the number of separate fields of technical knowledge during growth. Inc...

The relationship between financial development and economic growth is the crucial issues which could grab economists and policy makers' attention to it. Financial market plays an essential role on each economy, because it conducts funds to those individuals or firms which have productive investment opportunities. If the financial system does not perform this role efficiently, the economic effic...

Opportunity inequality and its relationship with economic growth is a concept to which not enough attention has been paid in the previous studies. This study attempts to investigate the effects of opportunity inequality index on economic growth in 15 developing and 15 developed countries over the years 1995-2015. Accordingly, the mean group (MG) estimator within the framework of panel data was ...

Abstract Pinniped species undergo uniquely amphibious life histories that make them valuable subjects for many domains of research. research has often progressed hand‐in‐hand with technological frontiers wildlife biology, and drones represent a leap forward methods aerial remote sensing, enabling data collection, integration at new scales biological importance. Drone types provide four key oppo...