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  1. Strategic learning and corporate investment
    Author: Décaire, Paul H.; Wittry, Michael D.
    Published: January 30, 2022
    Publisher:  The Ohio State University, Fisher College of Business, Charles A. Dice Center for Research in Financial Economics, [Columbus, Ohio]

    Using detailed project-level data, we document a novel mechanism through which information externalities distort investment. Firms anticipate information spillover from peers’ investment decisions and delay project exercise to learn from their peers’... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Using detailed project-level data, we document a novel mechanism through which information externalities distort investment. Firms anticipate information spillover from peers’ investment decisions and delay project exercise to learn from their peers’ outcomes. To establish a causal interpretation of our results, we exploit local exogenous variation from the 1800s that shapes the number of peers that a firm can learn from today. The strategic learning incentive is most salient for projects with uncertain profitability, when peers’ underlying assets are similar, and in environments where peers are skilled. Finally, our results suggest that the anticipation of peer information dampens aggregate investment

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers series / Charles A. Dice Center for Research in Financial Economics ; WP 2021, 15
    Fisher College of Business working paper series ; WP 2021-03, 15
    Subjects: Real options; corporate investment; strategic interactions; peer learning; his-torical data
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  2. Interkulturelle Qualifizierung neu gedacht
    Entwicklung und Durchführung zielgruppengerechter Seminare dargestellt am Beispiel chinesischer DaF-Studierender
    Author: Rossbach, Florian
    Published: 2023
    Publisher:  Springer Berlin Heidelberg, Berlin, Heidelberg

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  3. Interkulturelle Qualifizierung neu gedacht
    Entwicklung und Durchführung zielgruppengerechter Seminare dargestellt am Beispiel chinesischer DaF-Studierender
    Author: Rossbach, Florian
    Published: [2023]
    Publisher:  J.B. Metzler, Berlin

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