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always leaves the duopoly market before the first mover, although the leader may exit before the followerfs entry. We also …
Persistent link: https://www.econbiz.de/10010907617
Persistent link: https://www.econbiz.de/10010442589
We model a firm's optimal capital structure decision in a framework in which it may later choose to enter either Chapter 11 reorganization or Chapter 7 liquidation. Creditors anticipate equityholders' ex-post reorganization incentives and price them into the ex-ante credit spreads. Using a...
Persistent link: https://www.econbiz.de/10011873038
We study the development of a duopoly industry -evolution of firm capacities and competitive behavior- in a continuous …, les firmes ont un comportement de préemption, si bien que le premier investissement en capacité se produit plus tôt, et …
Persistent link: https://www.econbiz.de/10005100881
We study the development of a duopoly in a continuous-time model of capacity investment under no commitment by firms … preemption equilibrium with the first industry investment occurring earlier (hence being riskier) than socially optimal. Once … ce contexte. Initialement, le seul équilibre Markovien parfait (ÉMP) est un équilibre de préemption dans lequel le …
Persistent link: https://www.econbiz.de/10005100992
We study the development of a duopoly industry - evolution of firm capacities and competitive behavior - in a …
Persistent link: https://www.econbiz.de/10005611976
, where firms compete to enter a new market. We show that preemption can substantially reduce the negative effects of credit …
Persistent link: https://www.econbiz.de/10005405785
We develop a dynamic investment options framework with optimal capital structure and analyze the effect of debt maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most literature results, in the absence of constraints, higher...
Persistent link: https://www.econbiz.de/10011716006
extensions. The paper analyzes both symmetrical and asymmetrical duopoly under uncertainty, including issues like preemption, non … considering mixed strategies in asymmetric duopoly and other extensions. …
Persistent link: https://www.econbiz.de/10010934075
extensions. The paper analyzes both symmetrical and asymmetrical duopoly under uncertainty, including issues like preemption, non … considering mixed strategies in asymmetric duopoly and other extensions …
Persistent link: https://www.econbiz.de/10013004478