Real Options, Irreversible Investment and Firm Uncertainty: New Evidence from U.S. Firms

By Laarni T. Bulan. 2005

240 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d17576204859e9ee7523655101212cd386c793bb

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Citations in the corpus

Policy Uncertainty, Irreversibility, and Cross-Border Flows of Capital (2013, unknown): “Bulan (2005) uses asset specificity at the industry level as a measure of the capital irreversibility and documents the negative investment-uncertainty relation for irreversible industries.”
Investment, Idiosyncratic Risk, and Ownership (2011, unknown): “An incomplete list includes Brainard, Shoven, Weiss, Cagan and Hall (1980), Leahy and Whited (1996), Henley, Carruth and Dickerson (2003), Bond and Cummins (2004), Cummins, Hassett and Oliner (2006), Bulan (2005), Bloom, Bond and Reenen (2007), and Baum, Caglayan and Talavera (2008).”
Patent Protection, Market Uncertainty, and R&D Investment (2006, background): “5 See Carruth et al. (2000) for a survey of these studies and Bulan (2004) for a recent contribution.”
Business R&D and the Interplay of R&D Subsidies and Product Market Uncertainty (2007, methodology): “…market’s seller concentration using the Herfindahl index based on shares of market sales, ln(HHI).6 Capital intensity (KAPINT) is measured as physical assets (in million DM) 5 In the literature, researchers have used a variety of measures of uncertainty (see Carruth et al. 2000, and Bulan 2005).”
Real Options, Volatility, and Stock Returns (2012, methodology): “If return volatility is correlated with the volatility of processes underlying firms’ investment options, as argued in Leahy and Whited (1996) and Bulan (2005), then this evidence is consistent with the real-options-based explanation for the positive relation between returns and return volatilities…”
Real Options in Management and Organizational Strategy: A Review of Decision‐making and Performance Implications (2012, unknown): “Economic studies investigating the relationship between uncertainty and investment draw similar conclusions and also validate partly the theory of irreversible investments (e.g. Driver and Whelan 2001; Bulan 2005; Shaanan 2005; Folta et al. 2006).”
Why demand uncertainty curbs investment: Evidence from a panel of Italian manufacturing firms (2010, result): “However, similar results about the effects of competition on the investment-uncertainty relationship have been found in Bulan (2005), where the degree of competition is proxied by the concentration index and in Bulan et al.”