In this paper, we use option based measures of financial performance that utilise market information in a binary probit regression to examine their informational context and properties as distress indicators and to estimate default probabilities for listed firms. We then enrich them with...

This paper uses a structural econometric model to analyze an investment timing game that takes place during petroleum production. The model I develop enables one to estimate the structural parameters governing petroleum-producing firms’ investment timing decisions and therefore to assess the...