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This book presents an up-to-date overview of the theory as well as the empirics of the relationship between investment, financial imperfections and uncertainty. After reviewing the capital market imperfections literature and the empirical results, the authors discuss both traditional investment models with uncertainty and the more modern option based models. They present an overview of empirical results of the modelling of investment under uncertainty. In these examples the effects of capital market imperfections on investment are carefully considered. The authors conclude that there is overwhelming empirical support for a negative uncertainty-investment relationship. This book should appeal to academics with an interest in investment theory, professionals in the financial sector and students of macroeconomics and finance. "Investment, Capital Market Imperfections, and Uncertainty" assumes only a basic knowledge of mathematics and is easily accessible.
Book Synopsis Investment, Capital Market Imperfections, and Uncertainty by : Robert Lensink
Download or read book Investment, Capital Market Imperfections, and Uncertainty written by Robert Lensink and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an up-to-date overview of the theory as well as the empirics of the relationship between investment, financial imperfections and uncertainty. After reviewing the capital market imperfections literature and the empirical results, the authors discuss both traditional investment models with uncertainty and the more modern option based models. They present an overview of empirical results of the modelling of investment under uncertainty. In these examples the effects of capital market imperfections on investment are carefully considered. The authors conclude that there is overwhelming empirical support for a negative uncertainty-investment relationship. This book should appeal to academics with an interest in investment theory, professionals in the financial sector and students of macroeconomics and finance. "Investment, Capital Market Imperfections, and Uncertainty" assumes only a basic knowledge of mathematics and is easily accessible.
This book provides coherent theoretical and empirical analysis of firms’ investment and financing decisions. It assesses the role of uncertainty, financial imperfections, corporate governance and taxation. Evidence is obtained using several unique and high quality microeconomic data-sets, which explore features seldom addressed.
Book Synopsis Firms' Investment and Finance Decisions by : Paul Butzen
Download or read book Firms' Investment and Finance Decisions written by Paul Butzen and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides coherent theoretical and empirical analysis of firms’ investment and financing decisions. It assesses the role of uncertainty, financial imperfections, corporate governance and taxation. Evidence is obtained using several unique and high quality microeconomic data-sets, which explore features seldom addressed.
This book is a collection of eleven papers concerned with the effects of market imperfections on the decision-making of economic agents and on economic policies that try to correct the inefficient market outcomes due to those imperfections. As a consequence, real and financial imperfections are related : economic decisions are simultaneously affected by imperfections present both in real and financial markets. Notwithstanding the obvious fact that market interdependence is not novel, scholar interests are typically concentrated on the specific relationship among economic decisions originating from particular imperfections. This explains why, in the case of perfect financial markets, we can speak of "the" us.
Book Synopsis The Economics of Imperfect Markets by : Giorgio Calcagnini
Download or read book The Economics of Imperfect Markets written by Giorgio Calcagnini and published by Springer Science & Business Media. This book was released on 2009-10-22 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of eleven papers concerned with the effects of market imperfections on the decision-making of economic agents and on economic policies that try to correct the inefficient market outcomes due to those imperfections. As a consequence, real and financial imperfections are related : economic decisions are simultaneously affected by imperfections present both in real and financial markets. Notwithstanding the obvious fact that market interdependence is not novel, scholar interests are typically concentrated on the specific relationship among economic decisions originating from particular imperfections. This explains why, in the case of perfect financial markets, we can speak of "the" us.
Book Synopsis Capital Market Imperfections and Economic Development by : Vinayak Vijayshanker Bhatt
Download or read book Capital Market Imperfections and Economic Development written by Vinayak Vijayshanker Bhatt and published by . This book was released on 1979 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Book Synopsis Investment under Uncertainty by : Robert K. Dixit
Download or read book Investment under Uncertainty written by Robert K. Dixit and published by Princeton University Press. This book was released on 2012-07-14 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Excerpt from Corporate Investment Under Uncertainty, and the Neoclassical Model Production decisions in neoclassical, certainty models of capital investment by firms have been the driving force behind current theoretical specifications of investment behavior. Often a specific form of the production technology is assumed. Recently the concept of costs of adjustment has been included in these models. When properly specified, this cost function yields a unique, optimum firm size (i.e., a determinate level of output and investment) and theoretically justifies the use of distributed lags in econometric analysis. This paper develops a more general model of production and investment decisions made in a world of uncertainty wherein firm values are determined in an explicit capital market. With less restrictive assumptions as to technology, and both with and without costs of adjustment, we derive theoretical results which are empirically identical to the earlier research described above. Thus we also bring into question which model the previous empirical analyses actually validated. Further, we show rigorously that the investment and output levels of a firm in our uncertain world, with non-competitive aspects of the capital market, will be strictly less than those in a certainty context. With a competitive capital market under uncertainty, however, investment and output levels are shown to equal those of a certain world. Jorgenson 19 presents an exhaustive treatment of the neoclassical model. Therefore, the results of our analysis are compared to his. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Book Synopsis Corporate Investment Under Uncertainty, and the Neoclassical Model by : James L. Paddock
Download or read book Corporate Investment Under Uncertainty, and the Neoclassical Model written by James L. Paddock and published by Forgotten Books. This book was released on 2015-06-25 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Corporate Investment Under Uncertainty, and the Neoclassical Model Production decisions in neoclassical, certainty models of capital investment by firms have been the driving force behind current theoretical specifications of investment behavior. Often a specific form of the production technology is assumed. Recently the concept of costs of adjustment has been included in these models. When properly specified, this cost function yields a unique, optimum firm size (i.e., a determinate level of output and investment) and theoretically justifies the use of distributed lags in econometric analysis. This paper develops a more general model of production and investment decisions made in a world of uncertainty wherein firm values are determined in an explicit capital market. With less restrictive assumptions as to technology, and both with and without costs of adjustment, we derive theoretical results which are empirically identical to the earlier research described above. Thus we also bring into question which model the previous empirical analyses actually validated. Further, we show rigorously that the investment and output levels of a firm in our uncertain world, with non-competitive aspects of the capital market, will be strictly less than those in a certainty context. With a competitive capital market under uncertainty, however, investment and output levels are shown to equal those of a certain world. Jorgenson 19 presents an exhaustive treatment of the neoclassical model. Therefore, the results of our analysis are compared to his. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
First published in 1952, the International Bibliography of the Social Sciences (anthropology, economics, political science, and sociology) is well established as a major bibliographic reference for students, researchers and librarians in the social sciences worldwide. Key features * Authority: Rigorous standards are applied to make the IBSS the most authoritative selective bibliography ever produced. Articles and books are selected on merit by some of the world's most expert librarians and academics. *Breadth: today the IBSS covers over 2000 journals - more than any other comparable resource. The latest monograph publications are also included. *International Coverage: the IBSS reviews scholarship published in over 30 languages, including publications from Eastern Europe and the developing world. *User friendly organization: all non-English titles are word sections. Extensive author, subject and place name indexes are provided in both English and French. Place your standing order now for the 2003 volumes of the the IBSS Anthropology: 2002 Vol.48 December 2003: 234x156: Hb: 0-415-32634-6: £195.00 Economics: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32635-4: £195.00 Political Science: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32636-2: £195.00 Sociology: 2002 Vol.52 December 2003: 234x156: Hb: 0-415-32637-0: £195.00
Book Synopsis IBSS: Economics: 2002 Vol.51 by : Compiled by the British Library of Political and Economic Science
Download or read book IBSS: Economics: 2002 Vol.51 written by Compiled by the British Library of Political and Economic Science and published by Routledge. This book was released on 2013-05-13 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1952, the International Bibliography of the Social Sciences (anthropology, economics, political science, and sociology) is well established as a major bibliographic reference for students, researchers and librarians in the social sciences worldwide. Key features * Authority: Rigorous standards are applied to make the IBSS the most authoritative selective bibliography ever produced. Articles and books are selected on merit by some of the world's most expert librarians and academics. *Breadth: today the IBSS covers over 2000 journals - more than any other comparable resource. The latest monograph publications are also included. *International Coverage: the IBSS reviews scholarship published in over 30 languages, including publications from Eastern Europe and the developing world. *User friendly organization: all non-English titles are word sections. Extensive author, subject and place name indexes are provided in both English and French. Place your standing order now for the 2003 volumes of the the IBSS Anthropology: 2002 Vol.48 December 2003: 234x156: Hb: 0-415-32634-6: £195.00 Economics: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32635-4: £195.00 Political Science: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32636-2: £195.00 Sociology: 2002 Vol.52 December 2003: 234x156: Hb: 0-415-32637-0: £195.00
IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehensive knowledge of the social sciences.
Book Synopsis International Bibliography of Economics by : Compiled by the British Library of Political and Economic Science
Download or read book International Bibliography of Economics written by Compiled by the British Library of Political and Economic Science and published by Psychology Press. This book was released on 2003 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehensive knowledge of the social sciences.
Book Synopsis Determinants of inverstment behaviour by : Mark Jan-Jochem Koetse
Download or read book Determinants of inverstment behaviour written by Mark Jan-Jochem Koetse and published by Rozenberg Publishers. This book was released on 2003 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt:
This innovative book comprehensively sheds light on the theory and practice of technological policies by employing modern analytical tools and economic techniques. The New Economics of Technology Policy focuses on all public interventions intended to influence the intensity, composition and direction of technological innovations within a given entity such as a region, country or group of countries. Dominique Foray has gathered together many of the leading scholars in the field to comprehensively explore numerous avenues and pathways of research. Bringing together a collection of policy-oriented papers, this book will strongly appeal to policy-makers, academic researchers and graduate students with an interest in economics, public policy, science, technology and society.
Book Synopsis The New Economics of Technology Policy by : Dominique Foray
Download or read book The New Economics of Technology Policy written by Dominique Foray and published by Edward Elgar Publishing. This book was released on 2009 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative book comprehensively sheds light on the theory and practice of technological policies by employing modern analytical tools and economic techniques. The New Economics of Technology Policy focuses on all public interventions intended to influence the intensity, composition and direction of technological innovations within a given entity such as a region, country or group of countries. Dominique Foray has gathered together many of the leading scholars in the field to comprehensively explore numerous avenues and pathways of research. Bringing together a collection of policy-oriented papers, this book will strongly appeal to policy-makers, academic researchers and graduate students with an interest in economics, public policy, science, technology and society.
