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Real Options, Product Market Competition, and Asset Returns
16 references·16 citing·35 second hopsampled
Real Options, Product Market Competition, and Asset Returns (2009)Real Options, Product Market Competition,…Asset Pricing Implications of Nonconvex Adjustment Costs and Irreversibility of Investment (2006)Asset Pricing Implications of…The Value Premium (2005)The Value PremiumCorporate Investment and Asset Price Dynamics: Implications for the Cross‐section of Returns (2004)Corporate Investment and Asse…Industry Concentration and Average Stock Returns (2003)Industry Concentration and Av…Equilibrium Cross Section of Returns (2003)Equilibrium Cross Section of …Option Exercise Games: An Application to the Equilibrium Investment Strategies of Firms (2002)Option Exercise Games: An App…Optimal Investment, Growth Options, and Security Returns (1998)Optimal Investment, Growth Op…Size and Book-to-Market Factors in Earnings and Returns (1995)Size and Book-to-Market Facto…Investment Under Uncertainty. (1994)Investment Under Uncertainty.Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Super contact and related optimality conditions (1991)Super contact and related opt…Irreversible Investment, Capacity Choice, and the Value of the Firm (1986)Irreversible Investment, Capa…Irreversible Investment, Capacity Choice and the Value of the Firm (1986)Irreversible Investment, Capa…Evaluating Natural Resource Investments (1985)Evaluating Natural Resource I…The Value of Waiting to Invest (1982)The Value of Waiting to InvestUnderstanding the impact of trade policy effect uncertainty on firm‐level innovation investment (2023)Understanding the impact of t…Competitive pressure and firm investment efficiency: Evidence from corporate employment decisions (2021)Competitive pressure and firm…Competition, profitability, and discount rates (2021)Competition, profitability, a…Real options in finance (2017)Real options in financeInflexibility and Stock Returns (2017)Inflexibility and Stock Retur…Growth options and firm valuation (2017)Growth options and firm valua…Product market competition and corporate investment: Evidence from China (2015)Product market competition an…Idiosyncratic Cash Flows and Systematic Risk (2015)Idiosyncratic Cash Flows and …How Does Corporate Investment Respond to Increased Entry Threat? (2015)How Does Corporate Investment…Developing real option game models (2014)Developing real option game m…Strategic Default and Equity Risk Across Countries (2012)Strategic Default and Equity …Product Market Competition and Industry Returns (2012)Product Market Competition an…Product market competition and credit risk (2012)Product market competition an…Economic Activity of Firms and Asset Prices (2012)Economic Activity of Firms an…Strategic investment under uncertainty: A synthesis (2011)Strategic investment under un…Can Operating Leverage Be the Cause of the Value Premium? (2010)Can Operating Leverage Be the…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)Capital Theory and Investment Behavior (1963)Option pricing when underlying stock returns are discontinuous (1976)Irreversibility, Uncertainty, and Cyclical Investment (1980)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)Joint Ventures and the Option to Expand and Acquire (1991)Operating Flexibility, Global Manufacturing, and the Option Value of a Multinational Network (1994)The Pricing of Options and Corporate Liabilities (1973)Determinants of corporate borrowing (1977)A Theory of the Term Structure of Interest Rates (1985)Entry and Exit Decisions under Uncertainty (1989)Irreversibility, Uncertainty, and Investment (1990)An Intertemporal Capital Asset Pricing Model (1973)Multifactor Explanations of Asset Pricing Anomalies (1996)Industry costs of equity (1997)On Persistence in Mutual Fund Performance (1997)The Theory of Economic Development (2003)The Characteristics that Provide Independent Information about Average U.S. Monthly Stock Returns (2017)Are US Industries Becoming More Concentrated? (2019)Taming the Factor Zoo: A Test of New Factors (2020)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Do Industries Explain Momentum? (1999)The Stock Market Valuation of Research and Development Expenditures (2001)PE Ratios, PEG Ratios, and Estimating the Implied Expected Rate of Return on Equity Capital (2004)The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging (1997)Policy Uncertainty and Corporate Investment (2015)The conditional CAPM does not explain asset-pricing anomalies☆ (2006)Organization Capital and the Cross‐Section of Expected Returns (2013)Investment and Hysteresis (1992)Real Options and Interactions with Financial Flexibility (1993)Strategic Growth Options (1998)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1994Investment Under Uncertainty.9,497 cited
  • 1982The Value of Waiting to Invest3,606 cited
  • 1995Size and Book-to-Market Factors in Earnings and Returns3,456 cited
  • 1985Evaluating Natural Resource Investments2,379 cited
  • 1998Optimal Investment, Growth Options, and Security Returns1,477 cited
  • 2005The Value Premium1,334 cited
  • 1986Irreversible Investment, Capacity Choice and the Value of the Firm1,296 cited
  • 2003Industry Concentration and Average Stock Returns923 cited
  • 2003Equilibrium Cross Section of Returns785 cited
  • 2004Corporate Investment and Asset Price Dynamics: Implications for the Cross‐section of Returns778 cited
  • 2002Option Exercise Games: An Application to the Equilibrium Investment Strategies of Firms600 cited
  • 1986Irreversible Investment, Capacity Choice, and the Value of the Firm574 cited
  • 1991Super contact and related optimality conditions367 cited
  • 2006Asset Pricing Implications of Nonconvex Adjustment Costs and Irreversibility of Investment

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364 cited

Cited by

  • 2015How Does Corporate Investment Respond to Increased Entry Threat?192 cited
  • 2012Product Market Competition and Industry Returns169 cited
  • 2015Product market competition and corporate investment: Evidence from China163 cited
  • 2010Can Operating Leverage Be the Cause of the Value Premium?138 cited
  • 2011Strategic investment under uncertainty: A synthesis133 cited
  • 2014Developing real option game models131 cited
  • 2012Strategic Default and Equity Risk Across Countries124 cited
  • 2017Inflexibility and Stock Returns110 cited
  • 2021Competitive pressure and firm investment efficiency: Evidence from corporate employment decisions103 cited
  • 2017Real options in finance85 cited
  • 2023Understanding the impact of trade policy effect uncertainty on firm‐level innovation investment82 cited
  • 2017Growth options and firm valuation78 cited
  • 2015Idiosyncratic Cash Flows and Systematic Risk77 cited
  • 2012Economic Activity of Firms and Asset Prices74 cited
  • 2021Competition, profitability, and discount rates71 cited
  • 2012Product market competition and credit risk70 cited