Optimal investment decision under regulatory and environmental risks

References

• Black , F. 1976 . “ Studies of stock price volatility change ” . In Proceedings of the 1976 Meeting of the Business and Economics Statistics Section. American Statistical Association 177 – 181 .
   Google Scholar
• Bobtcheff , C. and Villeneuve , S. 2010 . Technology choice under several uncertainty sources . European Journal of Operational Research , 206 : 586 – 600 .
   Web of Science ®Google Scholar
• Boyarchenko , S. 2004 . Irreversible decisions and record-setting news principles . American Economic Review , 94 : 557 – 568 .
   Web of Science ®Google Scholar
• Boyle , P. 1988 . A lattice framework for option pricing with two state variables . Journal of Financial and Quantitative Analysis , 23 : 1 – 12 .
   Web of Science ®Google Scholar
• Broadie , M. and Detemple , J. 1997 . The valuation of American options on multiple assets . Mathematical Finance , 7 : 241 – 286 .
   Web of Science ®Google Scholar
• Chevalier-Roignant , B. , Flath , C. , Huchzermeier , A. and Trigeorgis , L. 2011 . Strategic investment under uncertainty: A synthesis . European Journal of Operational Research , 215 : 639 – 650 .
   Web of Science ®Google Scholar
• Christie , A. 1982 . The stochastic behavior of common stock variances: Value, leverage and interest rate effects . Journal of Financial Economics , 10 : 407 – 432 .
   Web of Science ®Google Scholar
• Detemple , J. 2006 . American-Style Derivatives Valuation and Computation , London : Chapman & Hall/CRC .
   Google Scholar
• Dixit , A. and Pindyck , R. 1994 . Investment Under Uncertainty , Princeton, NJ : Princeton University Press .
   Google Scholar
• Geltner , D. , Riddiough , T. and Stojanovic , S. 1996 . Insights on the effect of land use choice: The perpetual option on the best of two underlying assets . Journal of Urban Economics , 39 : 20 – 50 .
   Web of Science ®Google Scholar
• Grenadier , S. 1996 . The strategic exercise of options: Development cascades and overbuilding in real estate markets . Journal of Finance , 51 : 1653 – 1679 .
   Web of Science ®Google Scholar
• Huisman , K. and Kort , P. 2004 . Strategic technology adoption taking into account future technological improvements: A real options approach . European Journal of Operational Research , 159 : 705 – 728 .
   Web of Science ®Google Scholar
• Johnson , H. 1987 . Options on the maximum or the minimum of several assets . Journal of Financial and Quantitative Analysis , 22 : 227 – 283 .
   Web of Science ®Google Scholar
• Kong , J. and Kwok , Y. 2007 . Real options in strategic investment games between two asymmetric firms . European Journal of Operational Research , 29 : 1405 – 1428 .
   Google Scholar
• Martzoukos , S. and Trigeorgis , L. 2002 . Real (investment) options with multiple sources of rare events . European Journal of Operational Research , 136 : 696 – 706 .
   Web of Science ®Google Scholar
• Nishihara, M., (2009). Preemptive investment game with alternative projects. Paper 09-16. Discussion Papers in Economics and Business, Osaka University
   Google Scholar
• Nishihara , M. 2010 . Hybrid or electric vehicles? A real options perspective . Operations Research Letters , 38 : 87 – 93 .
   Web of Science ®Google Scholar
• Nishihara , M. 2012 . Real options with synergies: Static versus dynamic policies . Journal of the Operational Research Society , 63 : 107 – 121 .
   Web of Science ®Google Scholar
• Nishihara , M. and Fukushima , M. 2008 . Evaluation of firm's loss due to incomplete information in real investment decision . European Journal of Operational Research , 188 : 569 – 585 .
   Web of Science ®Google Scholar
• Nishihara , M. and Shibata , T. 2010a . Interactions between preemptive competition and a financing constraint . Journal of Economics and Management Strategy , 19 : 1013 – 1042 .
   Web of Science ®Google Scholar
• Nishihara , M. and Shibata , T. 2010b . Strategic investment with debt financing . International Journal of Management Science and Engineering Management , 5 : 3 – 14 .
   Google Scholar
• Nishihara , M. and Shibata , T. 2013 . The effects of external financing costs on investment timing and sizing decisions . Journal of Banking and Finance , 37 : 1160 – 1175 .
   Web of Science ®Google Scholar
• Riddiough , T. 1997 . The economic consequences of regulatory taking risk on land value and development activity . Journal of Urban Economics , 41 : 56 – 77 .
   Web of Science ®Google Scholar
• Shibata , T. and Nishihara , M. 2012 . Investment timing under debt issuance constraint . Journal of Banking and Finance , 36 : 981 – 991 .
   Web of Science ®Google Scholar
• Skinner , D. 1994 . Why firms voluntarily disclose bad news . Journal of Accounting Research , 32 : 38 – 61 .
   Web of Science ®Google Scholar
• Stulz , R. 1982 . Options on the minimum or the maximum of two risky assets: Analysis and applications . Journal of Financial Economics , 10 : 161 – 185 .
   Web of Science ®Google Scholar
• Villeneuve , S. 1999 . Exercise regions of American options on several assets . Finance and Stochastics , 3 : 295 – 322 .
   Google Scholar
• Weeds , H. 2002 . Strategic delay in a real options model of R&D competition . Review of Economic Studies , 69 : 729 – 747 .
   Web of Science ®Google Scholar