We study whether, how, and why the investment of a firm depends on the investment of other
firms in the same product market. Using an instrumental variable based on the presence of …

I analyze project continuation decisions where firms may resolve uncertainty through news
about competitors' research and development (R&D) failures, as well as through their own …

Uncertainty over future business conditions lies at the heart of firm decision-making.
Uncertainty can arise from a myriad of sources and is difficult to measure. We present a …

Uncertainty in corporate decision-making arises from a variety of factors, ranging from prices
of production inputs to market demand conditions, from technological progress to credit …

This paper investigates the observed heterogeneity in the liquidity of agricultural land
markets. We adopt a real options model to determine the value of an opportunity to sell …

This paper analyzes investment decisions under uncertainty in a triopoly market. We
determine the investment timing and the investment size of the firms under the condition that …

This paper investigates whether peer firms affect trade credit policy. Using data on US listed
firms for the period 1997–2015, we document strong evidence of peer influence on trade …

We study whether, how, and why the investment of a firm depends on the investment of other
firms in the same product market. Using an instrumental variable based on the presence of …

Using a NPV-based revealed-preference strategy, I find that managers increase the discount
rate used in capital budgeting decisions upward to account for idiosyncratic risk. To …

We show that firms anticipate information spillover from peers' investment decisions and
delay project exercise to learn from them. While this information improves project selection …