| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26441 |
| 来源ID | Working Paper 26441 |
| Climate Change, Operating Flexibility and Corporate Investment Decisions | |
| Chen Lin; Thomas Schmid; Michael S. Weisbach | |
| 发表日期 | 2019-11-11 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Extreme temperatures lead to large fluctuations in electricity demand and wholesale prices of electricity, which in turn affects the optimal production process for firms to use. Using a large international sample of planned power plant projects, we measure the way that electric utilities’ investment decisions depend on the frequency of extreme temperatures. We find that they invest more in regions with more extreme temperatures. These investments are mostly in flexible gas and oil-fired power plants that can easily adjust their output, to improve their operating flexibility. Our results suggest that climate change is becoming a meaningful factor affecting firms’ behavior. |
| 主题 | Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w26441 |
| 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/584113 |
| 推荐引用方式 GB/T 7714 | Chen Lin,Thomas Schmid,Michael S. Weisbach. Climate Change, Operating Flexibility and Corporate Investment Decisions. 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 | ||
| w26441.pdf（1127KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
