Real options in a dynamic agency model, with applications to financial development, IPOs, and business risk by Thomas Philippon

Cover of: Real options in a dynamic agency model, with applications to financial development, IPOs, and business risk | Thomas Philippon

Published by National Bureau of Economic Research in Cambridge, Mass .

Written in English

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Subjects:

  • Corporations -- Finance -- Econometric models,
  • Going public (Securities)

About the Edition

We study investment options in a dynamic agency model. Moral hazard creates an option to wait and agency conflicts affect the timing of investment. The model sheds light, theoretically and quantitatively, on the evolution of firms" dynamics, in particular the decline of the failure rate and the decrease in the age of IPOs.

Edition Notes

Book details

StatementThomas Philippon, Yuliy Sannikov.
SeriesNBER working paper series -- no. 13584., Working paper series (National Bureau of Economic Research) -- working paper no. 13584.
ContributionsSannikov, Yuliy., National Bureau of Economic Research.
The Physical Object
Pagination31, [3] p. :
Number of Pages31
ID Numbers
Open LibraryOL17635960M
OCLC/WorldCa181659024

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