Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen:
http://hdl.handle.net/10419/37484
Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Carlson, Murray | en |
dc.contributor.author | Dockner, Engelbert | en |
dc.contributor.author | Fisher, Adlai | en |
dc.contributor.author | Giammarino, Ron | en |
dc.date.accessioned | 2010-08-11T09:09:48Z | - |
dc.date.available | 2010-08-11T09:09:48Z | - |
dc.date.issued | 2010 | - |
dc.identifier.uri | http://hdl.handle.net/10419/37484 | - |
dc.description.abstract | We study own and rival risk in a dynamic duopoly with a homogeneous output good. A competitor's options to adjust capacity reduce own-firm risk through a simple hedging channel. For example, if a rival possesses a growth option, an increase in industry demand directly enhances current profits but also encourages value-reducing competitor expansion. As a consequence, when a leader and a follower emerge in equilibrium, risk dynamics depart substantially from previously-studied simultaneous move benchmarks. Own-firm and competitor required returns tend to move together through contractions and oppositely during expansions, providing testable new empirical predictions. | en |
dc.language.iso | eng | en |
dc.publisher | |aVerein für Socialpolitik |cFrankfurt a. M. | en |
dc.relation.ispartofseries | |aBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Dynamic Models of Investment |xD8-V2 | en |
dc.subject.jel | G31 | en |
dc.subject.jel | D43 | en |
dc.subject.jel | D92 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Growth options and industry risk | en |
dc.subject.keyword | asset pricing and investment decisions | en |
dc.subject.keyword | risk dynamics in oligopolistic industries | en |
dc.title | Leaders, Followers, and Risk Dynamics in Industry Equilibrium | - |
dc.type | Conference Paper | en |
dc.identifier.ppn | 654846618 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
Datei(en):
Publikationen in EconStor sind urheberrechtlich geschützt.