| 题名 | Irreversible investment, ambiguity and equity default swaps |
| 作者 | |
| 通讯作者 | Yang, Zhaojun |
| 发表日期 | 2018
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| DOI | |
| 发表期刊 | |
| ISSN | 1350-4851
|
| EISSN | 1466-4291
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| 卷号 | 25期号:18页码:1301-1305 |
| 摘要 | We study the impact of ambiguity on the pricing and timing of the option to invest. There is a funding gap to undertake the investment, which is covered by entering into an equity-for-guarantee swap. Our model predicts that the more ambiguity-averse the agents, the less the option value, the later the investment and the higher the guarantee cost and the leverage. If the entrepreneur is more ambiguity-averse than the insurer, the investment threshold slightly rises as the perceived ambiguity increases, and on the contrary, if the entrepreneur is less ambiguity-averse than the insurer, the investment threshold increases sharply as the perceived ambiguity rises. |
| 关键词 | |
| 相关链接 | [来源记录] |
| 收录类别 | |
| 语种 | 英语
|
| 学校署名 | 通讯
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| WOS研究方向 | Business & Economics
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| WOS类目 | Economics
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| WOS记录号 | WOS:000439709300010
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| 出版者 | |
| ESI学科分类 | ECONOMICS BUSINESS
|
| 来源库 | Web of Science
|
| 引用统计 |
被引频次[WOS]：3
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| 成果类型 | 期刊论文 |
| 条目标识符 | http://sustech.caswiz.com/handle/2SGJ60CL/28252 |
| 专题 | 商学院_金融系 |
| 作者单位 | 1.Hunan Univ, Sch Finance & Stat, Changsha, Hunan, Peoples R China 2.Southern Univ Sci & Technol, Dept Finance, Shenzhen, Peoples R China |
| 通讯作者单位 | 金融系 |
| 推荐引用方式 GB/T 7714 |
Tang, Xiaolin,Yang, Zhaojun. Irreversible investment, ambiguity and equity default swaps[J]. APPLIED ECONOMICS LETTERS,2018,25(18):1301-1305.
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| APA |
Tang, Xiaolin,&Yang, Zhaojun.(2018).Irreversible investment, ambiguity and equity default swaps.APPLIED ECONOMICS LETTERS,25(18),1301-1305.
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| MLA |
Tang, Xiaolin,et al."Irreversible investment, ambiguity and equity default swaps".APPLIED ECONOMICS LETTERS 25.18(2018):1301-1305.
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| 条目包含的文件 | 条目无相关文件。 | |||||
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