Similar Search Results

An integrated CVaR and real options approach to investments in the energy sector

Fortin, Ines; Fuss, Sabine; Hlouskova, Jaroslava; … - 2007

Persistent link: https://www.econbiz.de/10003510413

An integrated CVaR and real options approach to investments in the energy sector

Fortin, Ines; Fuss, Sabine; Hlouskova, Jaroslava; … - 2007

The objective of this paper is to combine a real options framework with portfolio optimization techniques and to apply this new framework to investments in the electricity sector. In particular, a real options model is used to assess the adoption decision of particular technologies under...

Persistent link: https://www.econbiz.de/10009736649

Exchange rate volatility and exports : estimation of firms risk preferences

Broll, Udo; Mukherjee, Soumyatanu; Sensarma, Rudra - 2017

firms optimal production and exporting decisions. The firms elasticity of risk aversion determines the direction of the …

Persistent link: https://www.econbiz.de/10011638802

Explaining electricity forward premiums : evidence for the weather uncertainty effect

Obermüller, Frank - 2017

up an analytic model to show that the day-ahead optimal bidding under uncertain renewable production is below the … expected production and thus price increasing. In a second step, the price increasing effect on forward premiums by specific … weather types and their renewable production uncertainty is proved via empirical methods. Weather types are identified in …

Persistent link: https://www.econbiz.de/10011750347

The Effect of Uncertainty on Investment, Hiring, and R&D : Causal Evidence from Equity Options

Stein, Luke C.D. - 2014

There is wide debate over the impact of uncertainty on firm behavior, due to the difficulty both of measuring uncertainty and of identifying causality. This paper takes three steps that attempt to address these challenges. First, we develop an instrumental variables strategy that exploits firms'...

Persistent link: https://www.econbiz.de/10013069505

Uncertainty and Exit Decisions : Evidence from Plant-Level Data

Carvalho, Daniel R. - 2018

Theory suggests that uncertainty can play an important role in determining firms' decisions to shut down operations. In this paper, I provide evidence that input-price uncertainty leads to significant and persistent reductions in plant exits in the context of Brazilian manufacturing. I analyze...

Persistent link: https://www.econbiz.de/10012936858

Dispersion over the business cycle : passthrough, productivity, and demand

Carlsson, Mikael; Clymo, Alex; Joslin, Knut-Eric - 2022

We characterize the dispersion of firm-level productivity and demand shocks using Swedish microdata including prices and utilization and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than TFPQ dispersion in recessions. Productivity shocks pass...

Persistent link: https://www.econbiz.de/10013256973

Dispersion over the business cycle : passthrough, productivity, and demand?

Carlsson, Mikael; Clymo, Alex; Joslin, Knut-Eric - 2023

We characterize the dispersion of firm-level productivity and demand shocks over the business cycle using Swedish microdata including prices and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than productivity dispersion in recessions....

Persistent link: https://www.econbiz.de/10013488861

Labor income risk and the reluctance of households to invest in risky financial assets : a panel data analysis

Becker, Gideon; Dimpfl, Thomas - 2014

We investigate the determinants of a household's decision on whether to invest in risky financial assets. Financial theory suggests that with increasing labor income risk, the reluctance of households to hold stocks increases. We propose to measure income risk as the observed variation of...

Persistent link: https://www.econbiz.de/10010350417

The impact of risk attitudes on financial investments

Hyll, Walter; Irrek, Maike - 2015

Several scholars analyze the relationship between individuals’ willingness to take risks and financial investment decisions. We add to this literature in using data from the German Socio-Economic Panel which allow ruling out that investments in risky assets itself impact on risk attitudes. We...

Persistent link: https://www.econbiz.de/10011317853