| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Investment Size and Firm's Value Under Profit Sharing Regulation | |
| Michele Moretto; Paolo M. Panteghini; Carlo Scarpa | |
| 发表日期 | 2003 |
| 出处 | Economy and Society |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | In this article we analyse the effects of different regulatory schemes (price cap and profit sharing) on a firm's investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a firm's start-up decision relative to a pure price cap scheme. Unless the threshold after which profit sharing intervenes is very high, however, introducing a profit sharing element delays further investments: this decreases the present value of total investment. We also evaluate the reduction in the firm's value due to profit sharing, linking this reduction to the option value of future investments. |
| 特色分类 | L51,D81,D92,G31 |
| 关键词 | Regulation,Investment,Profit sharing,Real options,RPI-x |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/investment-size-and-firm-s-value-under-profit-sharing-regulation/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116908 |
| 推荐引用方式 GB/T 7714 | Michele Moretto,Paolo M. Panteghini,Carlo Scarpa. Investment Size and Firm's Value Under Profit Sharing Regulation. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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