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dc.coverage.spatialCATONSVILLE
dc.creatorCortázar-Sanz, Gonzalo
dc.creatorSalinas, M.
dc.creatorSchwartz, Eduardo
dc.date.accessioned2017-04-27T18:51:34Z
dc.date.available2017-04-27T18:51:34Z
dc.date.issued1998
dc.identifier.issn0025-1909
dc.identifier.urihttp://hdl.handle.net/10533/197419
dc.description.abstractThe paper presents a model that determines when (at which output price level) it is optimum for a firm to invest in environmental technologies and which are the main parameters that affect this decision. Our analysis shows that firms require high output price levels to be induced to invest in environmental technologies, because they optimally would not want to commit to a heavy irreversible investment that could turn out to be unprofitable in the event of a price fall. A comparative static analysis predicts that firms in industries with high output price volatility would be more reluctant to invest in environmental protection technologies and would be more willing to operate at low output levels (thus attaining low emission levels). Increases in the interest rate would also reduce optimal environmental investment levels.
dc.language.isoENG
dc.publisherINFORMS
dc.relationinstname: Conicyt
dc.relationreponame: Repositorio Digital RI2.0
dc.relationinstname: Conicyt
dc.relationreponame: Repositorio Digital RI2.0
dc.titleEvaluating environmental investments: a real options approach
dc.typeArticulo
dc.bibliographicCitation.stpage1059
dc.bibliographicCitation.endpage1070
dc.identifier.folioD96T1006
dc.country.isoUSA
dc.description.citasisi34
dc.description.conicytprogramFONDEF
dc.description.email0
dc.description.investmentarticle0
dc.description.number8
dc.description.volume44
dc.identifier.isiWOS:000075653800004
dc.relation.projectidinfo:eu-repo/grantAgreement/Fondef/D96T1006
dc.relation.setinfo:eu-repo/semantics/dataset/hdl.handle.net/10533/93477
dc.rights.driverinfo:eu-repo/semantics/openAccess
dc.title.journalMANAGEMENT SCIENCE
dc.title.journalabbreviationManage. Sci.
dc.type.driverinfo:eu-repo/semantics/article
dc.description.shortconicytprogramFONDEF
dc.identifier.eissn0
dc.description.agrad0
dc.type.openaireinfo:eu-repo/semantics/publishedVersion


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