| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25624 |
| 来源ID | Working Paper 25624 |
| Real Option Exercise: Empirical Evidence | |
| Paul Décaire; Erik P. Gilje; Jérôme P. Taillard | |
| 发表日期 | 2019-03-04 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We study when and why firms exercise real options. Using detailed project-level investment data, we find that the likelihood that a firm exercises a real option is strongly related to peer exercise behavior. Peer exercise decisions are as important in explaining exercise behavior as variables commonly associated with standard real option theories, such as volatility. We identify peer effects using localized exogenous variation in peer project exercise decisions and find evidence consistent with information externalities being important for exercise behavior. |
| 主题 | Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w25624 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583298 |
| 推荐引用方式 GB/T 7714 | Paul Décaire,Erik P. Gilje,Jérôme P. Taillard. Real Option Exercise: Empirical Evidence. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25624.pdf（1738KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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