This paper analyses the impact of exchange rate unertainty upon the pattern of investment in different exchange rate … rate regimes indicates that currency volatility exerts only a small influence upon the level of investment spending. On the …

not rely on the “smooth-pasting condition.” An application to MacDonald and Siegel’s canonical investment problem (1986 …) shows that the standard investment threshold over-estimates the optimal threshold when the lower barrier is absorbing and …

irreversibility for the timing of investment expenditures and their expected returns. This has subsequently stimulated a growing … irreversibility effects are present, then their omission from traditional investment models casts doubt on the efficacy of such …Recent theoretical developments relating to investment under uncertainty have highlighted the importance of …

Research finds that firms' investment and dividend policies are distorted by irreversibility and finance constraints … theoretical result concerns the separation of the investment and payout thresholds. The ordering of investment and distribution … the constraints drive these results. Important ramifications for empirical work on investment are discussed. …

In this paper we investigate how demand and output price uncertainty affect investment plans of Belgian manufacturing … survey and investment plans from the half-yearly investment survey. Using investment plans instead of realised investment … features of the decision formation process and, therefore, it is most closely related to economic theory. Business investment …

irreversibility models. …

a specially constructed industry-specific measure of irreversibility for plant and machinery investment to test for real …This paper reports estimation of investment equations for two classes of fixed assets: plant & machinery and building … for a large sample of UK manufacturing industries. It exploits the different degree of irreversibility that characterises …

the degree of irreversibility between machinery and buildings. It reports estimates of investment equations for each asset …This paper tests the power of real options theory to explain investment under uncertainty, exploiting differences in … options theory. Additionally, using a specially constructed industryspecific measure of irreversibility for machinery …

computes the variance of stock returns. These goods are subject to different degrees of irreversibility. The response to a mean … preserving spread implies a relative increase in investment in the less irreversible good -- in this case consumer durables …. Therefore, a drop in durable consumption can be a sign of recession only because investment in physical capital is falling even …

irreversibility for the timing of investment expenditures and their expected returns. This has subsequently stimulated a growing … irreversibility effects are present, then their omission from traditional investment models casts doubt on the efficacy of such …Recent theoretical developments relating to investment under uncertainty have highlighted the importance of …