Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/3920
Title: Leverage, uncertainty and investment decisions
Authors: Kenç, Turalay
Driver, Ciaran
Keywords: Irreversible investment
Tax incentives
Uncertainty
Leverage
Issue Date: May-2020
Publisher: Elsevier B.V.
Source: Kenc, T., & Driver, C. (2020). Leverage, uncertainty and investment decisions. Economics Letters, 109052.
Abstract: We explore the role of taxes on stimulating investment decisions for levered firms under cash flows and investment costs uncertainty using the adjusted present value-based real options approach developed by Myers and Read (2019). We extend their work to consider combined tax credits and uncertain investment costs. We then run a numerical analysis to quantify the impact of uncertainty, corporate tax and investment tax credit in stimulating investments.
URI: https://hdl.handle.net/20.500.11851/3920
https://doi.org/10.1016/j.econlet.2020.109052
ISSN: 0165-1765
Appears in Collections:İşletme Bölümü / Department of Management
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection

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