Investment under Uncertainty

Measuring Economic Policy Uncertainty*

Baker, S. R., Bloom, N., & Davis, S. J. (2016) · The Quarterly Journal of Economics · doi:10.1093/qje/qjw024 · Cited by 12,458

Capital markets research in accounting

Kothari, S. P. (2001) · Journal of Accounting and Economics · doi:10.1016/s0165-4101(01)00030-1 · Cited by 2,559

The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging

Schwartz, E. S. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb02721.x · Cited by 2,076

Zipf's Law for Cities: An Explanation

Gabaix, X. (1999) · The Quarterly Journal of Economics · doi:10.1162/003355399556133 · Cited by 2,044

Policy Uncertainty and Corporate Investment

Gulen, H., & Ion, M. (2015) · Review of Financial Studies · doi:10.1093/rfs/hhv050 · Cited by 2,526

A Knowledge Accessing Theory of Strategic Alliances

Grant, R. M., & Baden‐Fuller, C. W. F. (2003) · Journal of Management Studies · doi:10.1111/j.1467-6486.2004.00421.x · Cited by 1,822

Firm-Level Political Risk: Measurement and Effects*

Hassan, T. A., Hollander, S., van Lent, L., & Tahoun, A. (2019) · The Quarterly Journal of Economics · doi:10.1093/qje/qjz021 · Cited by 1,555

Strategic flexibility in product competition

Sanchez, R. (1995) · Strategic Management Journal · doi:10.1002/smj.4250160921 · Cited by 1,561

The Value Premium

Zhang, L. (2005) · The Journal of Finance · doi:10.1111/j.1540-6261.2005.00725.x · Cited by 1,324

Explaining the Diversification Discount

Campa, J. M., & Kedia, S. (2002) · The Journal of Finance · doi:10.1111/1540-6261.00476 · Cited by 1,373

Measurement Error and the Relationship between Investment and q

Erickson, T., & Whited, T. M. (2000) · Journal of Political Economy · doi:10.1086/317670 · Cited by 1,259

Falling Forward: Real Options Reasoning and Entrepreneurial Failure

McGrath, R. G. (1999) · Academy of Management Review · doi:10.5465/amr.1999.1580438 · Cited by 1,516

Short-Term Variations and Long-Term Dynamics in Commodity Prices

Schwartz, E. S., & Smith, J. E. (2000) · Management Science · doi:10.1287/mnsc.46.7.893.12034 · Cited by 1,085

The Impacts of Environmental Regulations on Industrial Activity: Evidence from the 1970 and 1977 Clean Air Act Amendments and the Census of Manufactures

Greenstone, M. (2002) · Journal of Political Economy · doi:10.1086/342808 · Cited by 1,127

Behavioural factors affecting the adoption of sustainable farming practices: a policy-oriented review

Dessart, F. J., Barreiro‐Hurlé, J., & van Bavel, R. (2019) · European Review of Agricultural Economics · doi:10.1093/erae/jbz019 · Cited by 1,225

The Performance of Incumbent Firms in the Face of Radical Technological Innovation

Hill, C. W. L., & Rothaermel, F. T. (2003) · Academy of Management Review · doi:10.5465/amr.2003.9416161 · Cited by 1,157

Monte Carlo methods for security pricing

Boyle, P. P., Broadie, M. N., & Glasserman, P. (1997) · Journal of Economic Dynamics and Control · doi:10.1016/s0165-1889(97)00028-6 · Cited by 856

Sea Level Rise and Implications for Low-Lying Islands, Coasts and Communities

(IPCC), I. P. O. C. C. (2022) · Cambridge University Press eBooks · doi:10.1017/9781009157964.012 · Cited by 864

Investment and Demand Uncertainty

Guiso, L., & Parigi, G. (1999) · The Quarterly Journal of Economics · doi:10.1162/003355399555981 · Cited by 785

Selection, Growth, and the Size Distribution of Firms

Luttmer, E. G. J. (2007) · The Quarterly Journal of Economics · doi:10.1162/qjec.122.3.1103 · Cited by 801

Strong Regularities in World Wide Web Surfing

Huberman, B. A., Pirolli, P. L. T., Pitkow, J. E., & Lukose, R. M. (1998) · Science · doi:10.1126/science.280.5360.95 · Cited by 753

Corporate Investment and Asset Price Dynamics: Implications for the Cross‐section of Returns

Carlson, M. D., Fisher, A. J., & Giammarino, R. (2004) · The Journal of Finance · doi:10.1111/j.1540-6261.2004.00709.x · Cited by 779

Capital Adjustment Patterns in Manufacturing Plants

Doms, M. E., & Dunne, T. (1998) · Review of Economic Dynamics · doi:10.1006/redy.1998.0011 · Cited by 731

A Real Options Logic for Initiating Technology Positioning Investments

McGrath, R. G. (1997) · Academy of Management Review · doi:10.5465/amr.1997.9711022113 · Cited by 854

The effects of financial reporting and disclosure on corporate investment: A review

Roychowdhury, S., Shroff, N., & Verdi, R. S. (2019) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2019.101246 · Cited by 749

Inventory Management with Asset-Based Financing

Buzacott, J. A., & Zhang, R. Q. (2004) · Management Science · doi:10.1287/mnsc.1040.0278 · Cited by 650

Economic mobility and poverty dynamics in developing countries

Baulch, B., & Hoddinott, J. F. (2000) · The Journal of Development Studies · doi:10.1080/00220380008422652 · Cited by 662

Strategic Growth Options

Kulatilaka, N., & Perotti, E. C. (1998) · Management Science · doi:10.1287/mnsc.44.8.1021 · Cited by 660

The Long-Run Evolution of Energy Prices

Pindyck, R. S. (1999) · The Energy Journal · doi:10.5547/issn0195-6574-ej-vol20-no2-1 · Cited by 655

Policy Uncertainty and Mergers and Acquisitions

Nguyen, N. H., & Phan, H. V. (2017) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109017000175 · Cited by 625

Option Exercise Games: An Application to the Equilibrium Investment Strategies of Firms

Grenadier, S. R. (2002) · Review of Financial Studies · doi:10.1093/rfs/15.3.691 · Cited by 647

The Asset Redeployability Channel: How Uncertainty Affects Corporate Investment

Kim, H., & Kung, H. (2016) · Review of Financial Studies · doi:10.1093/rfs/hhv076 · Cited by 643

Pricing American-style securities using simulation

Broadie, M. N., & Glasserman, P. (1997) · Journal of Economic Dynamics and Control · doi:10.1016/s0165-1889(97)00029-8 · Cited by 638

Really Uncertain Business Cycles

Bloom, N., Floetotto, M., Jaimovich, N., Saporta‐Eksten, I., & Terry, S. (2012) · National Bureau of Economic Research · doi:10.3386/w18245 · Cited by 613

The Strategic Exercise of Options: Development Cascades and Overbuilding in Real Estate Markets

Grenadier, S. R. (1996) · The Journal of Finance · doi:10.1111/j.1540-6261.1996.tb05221.x · Cited by 631

The Dynamics of Commodity Spot and Futures Markets: A Primer

Pindyck, R. S. (2001) · The Energy Journal · doi:10.5547/issn0195-6574-ej-vol22-no3-1 · Cited by 612

Entrepreneurs’ Decisions to Exploit Opportunities

Choi, Y. R., & Shepherd, D. A. (2003) · Journal of Management · doi:10.1016/j.jm.2003.04.002 · Cited by 642

Organizations as Adaptive Systems in Complex Environments: The Case of China

Boisot, M., & Child, J. (1999) · Organization Science · doi:10.1287/orsc.10.3.237 · Cited by 605

Measuring Geopolitical Risk

Caldara, D., & Iacoviello, M. M. (2018) · International Finance Discussion Paper · doi:10.17016/ifdp.2018.1222 · Cited by 601

An empirical examination of transaction‐ and firm‐level influences on the vertical boundaries of the firm

Leiblein, M. J., & Miller, D. J. (2003) · Strategic Management Journal · doi:10.1002/smj.340 · Cited by 595

Capabilities as Real Options

Kogut, B., & Kulatilaka, N. (2001) · Organization Science · doi:10.1287/orsc.12.6.744.10082 · Cited by 595

The economics of risk, uncertainty and learning in the adoption of new agricultural technologies: where are we on the learning curve?

Marra, M. C., Pannell, D. J., & Ghadim, A. K. A. (2003) · Agricultural Systems · doi:10.1016/s0308-521x(02)00066-5 · Cited by 593

Commissioned Paper: Capacity Management, Investment, and Hedging: Review and Recent Developments

Mieghem, J. A. V. (2003) · Manufacturing & Service Operations Management · doi:10.1287/msom.5.4.269.24882 · Cited by 587

The impact of terms of trade and real exchange rate volatility on investment and growth in sub-Saharan Africa

Bleaney, M., & Greenaway, D. (2001) · Journal of Development Economics · doi:10.1016/s0304-3878(01)00147-x · Cited by 572

Decision-making under great uncertainty: environmental management in an era of global change

Polasky, S., Carpenter, S. R., Folke, C., & Keeler, B. (2011) · Trends in Ecology & Evolution · doi:10.1016/j.tree.2011.04.007 · Cited by 602

Project Management Under Risk: Using the Real Options Approach to Evaluate Flexibility in R…D

Huchzermeier, A., & Loch, C. H. (2001) · Management Science · doi:10.1287/mnsc.47.1.85.10661 · Cited by 561

Dynamic incentives by environmental policy instruments—a survey

Requate, T. (2005) · Ecological Economics · doi:10.1016/j.ecolecon.2004.12.028 · Cited by 559

Real options reasoning and a new look at the R&D investment strategies of pharmaceutical firms

McGrath, R. G., & Nerkar, A. A. (2003) · Strategic Management Journal · doi:10.1002/smj.358 · Cited by 540

Real options theory in strategic management

Trigeorgis, L. G., & Reuer, J. J. (2016) · Strategic Management Journal · doi:10.1002/smj.2593 · Cited by 557

Chapter 4 The agricultural innovation process: Research and technology adoption in a changing agricultural sector

Sunding, D. L., & Zilberman, D. (2001) · Handbook of agricultural economics · doi:10.1016/s1574-0072(01)10007-1 · Cited by 523

Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S, s) Approach

Caballero, R. J., & Engel, E. M. R. A. (1999) · Econometrica · doi:10.1111/1468-0262.00053 · Cited by 516

Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections

Çolak, G., Durnev, A., & Qian, Y. (2017) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109017000862 · Cited by 513

Founding conditions and the survival of new firms

Geroski, P. A., Mata, J., & Portugal, P. (2009) · Strategic Management Journal · doi:10.1002/smj.823 · Cited by 508

Coordinating and competing in ecosystems: How organizational forms shape new technology investments

Kapoor, R., & Lee, J. M. (2013) · Strategic Management Journal · doi:10.1002/smj.2010 · Cited by 502

Financial Constraints, R&D Investment, and Stock Returns

Li, D. (2011) · Review of Financial Studies · doi:10.1093/rfs/hhr043 · Cited by 482

Corporate Climate Risk: Measurements and Responses

Li, Q., Shan, H., Tang, Y., & Yao, V. W. (2020) · Review of Financial Studies · doi:10.1093/rfs/hhad094 · Cited by 571

Selection and Evolution of Industry

Sengupta, J. K. (2004) · Palgrave Macmillan UK eBooks · doi:10.1057/9780230505315_2 · Cited by 494

What Is Not a Real Option: Considering Boundaries for the Application of Real Options to Business Strategy

Adner, R., & Levinthal, D. A. (2004) · Academy of Management Review · doi:10.5465/amr.2004.11851715 · Cited by 606

Alliance networks and firm performance: The impact of repeated partnerships

Goerzen, A. (2007) · Strategic Management Journal · doi:10.1002/smj.588 · Cited by 468

Displaced Capital: A Study of Aerospace Plant Closings

Ramey, V., & Shapiro, M. D. (2001) · Journal of Political Economy · doi:10.1086/322828 · Cited by 472

Financial Reporting Quality and Labor Investment Efficiency

Jung, B., Lee, W., & Weber, D. P. (2013) · Contemporary Accounting Research · doi:10.1111/1911-3846.12053 · Cited by 442

Real Options and IT Platform Adoption: Implications for Theory and Practice

Fichman, R. G. (2004) · Information Systems Research · doi:10.1287/isre.1040.0021 · Cited by 457

The Contingency Value of Complementary Capabilities in Product Development

Moorman, C., & Slotegraaf, R. J. (1999) · Journal of Marketing Research · doi:10.1177/002224379903600208 · Cited by 479

The Individual-Opportunity Nexus

Shane, S. A., & Eckhardt, J. (2003) · Springer eBooks · doi:10.1007/0-387-24519-7_8 · Cited by 494

A Case for Using Real Options Pricing Analysis to Evaluate Information Technology Project Investments

Benaroch, M., & Kauffman, R. J. (1999) · Information Systems Research · doi:10.1287/isre.10.1.70 · Cited by 451

Low‐carbon transition risks for finance

Semieniuk, G., Campiglio, E., Mercure, J.-F., Volz, U., & Edwards, N. R. (2020) · Wiley Interdisciplinary Reviews Climate Change · doi:10.1002/wcc.678 · Cited by 475

Debt Valuation, Renegotiation, and Optimal Dividend Policy

Fan, H., & Sundaresan, S. M. (2000) · Review of Financial Studies · doi:10.1093/rfs/13.4.1057 · Cited by 443

Benefits and Costs of International Financial Integration: Theory and Facts

Agénor, P. (2001) · World Economy · doi:10.1111/1467-9701.00564 · Cited by 443

Beyond Arbitrage: Good‐Deal Asset Price Bounds in Incomplete Markets

Cochrane, J. H., & Saá-Requejo, J. (2000) · Journal of Political Economy · doi:10.1086/262112 · Cited by 419

Vicarious Learning, Undersampling of Failure, and the Myths of Management

Denrell, J. C. (2003) · Organization Science · doi:10.1287/orsc.14.2.227.15164 · Cited by 529

Aid instability as a measure of uncertainty and the positive impact of aid on growth

Lensink, R., & Morrissey, O. (2000) · The Journal of Development Studies · doi:10.1080/00220380008422627 · Cited by 425

Does Systemic Risk in the Financial Sector Predict Future Economic Downturns?

Allen, L., Bali, T. G., & Tang, Y. (2012) · Review of Financial Studies · doi:10.1093/rfs/hhs094 · Cited by 439

Capital Markets Research in AccountingPreprint

Kothari, S. P. (2000) · SSRN Electronic Journal · doi:10.2139/ssrn.235798 · Cited by 419

Green patents, regulatory policies and research network policies

Fabrizi, A., Guarini, G., & Meliciani, V. (2018) · Research Policy · doi:10.1016/j.respol.2018.03.005 · Cited by 436

Technology Adoption under Production Uncertainty: Theory and Application to Irrigation Technology

Koundouri, P., Nauges, C., & Tzouvelekas, V. M. (2006) · American Journal of Agricultural Economics · doi:10.1111/j.1467-8276.2006.00886.x · Cited by 407

Discounting the distant future: how much do uncertain rates increase valuations?

Newell, R. G., & Pizer, W. A. (2003) · Journal of Environmental Economics and Management · doi:10.1016/s0095-0696(02)00031-1 · Cited by 398

Predicting corporate bankruptcy: where we stand?

Aziz, M. A., & Dar, H. A. (2006) · Corporate Governance · doi:10.1108/14720700610649436 · Cited by 402

UNCERTAIN OPTIMAL CONTROL WITH APPLICATION TO A PORTFOLIO SELECTION MODEL

Zhu, Y. (2010) · Cybernetics & Systems · doi:10.1080/01969722.2010.511552 · Cited by 398

Major Innovation as a Dynamic Capability: A Systems Approach*

O’Connor, G. C. (2008) · Journal of Product Innovation Management · doi:10.1111/j.1540-5885.2008.00304.x · Cited by 416

Investment under market and climate policy uncertainty

Fuss, S., Szolgayová, J., Obersteiner, M. H., et al. (2008) · Applied Energy · doi:10.1016/j.apenergy.2008.01.005 · Cited by 393

Identifying failing companies: a re-evaluation of the logit, probit and DA approaches

Lennox, C. S. (1999) · Journal of Economics and Business · doi:10.1016/s0148-6195(99)00009-0 · Cited by 386

Empirical Evidence of Risk Shifting in Financially Distressed Firms

Eisdorfer, A. (2008) · The Journal of Finance · doi:10.1111/j.1540-6261.2008.01326.x · Cited by 359

An Intellectual History of Environmental Economics

Pearce, D. (2002) · Annual Review of Energy and the Environment · doi:10.1146/annurev.energy.27.122001.083429 · Cited by 366

Are joint venture partners more opportunistic in a more volatile environment

Luo, Y.-D. (2007) · Strategic Management Journal · doi:10.1002/smj.564 · Cited by 368

Information Technology and Business-Level Strategy: Toward an Integrated Theoretical Perspective1

Drnevich, P. L., & Croson, D. C. (2013) · MIS Quarterly · doi:10.25300/misq/2013/37.2.08 · Cited by 378

Capital Allocation and Timely Accounting Recognition of Economic Losses

Bushman, R. M., Piotroski, J. D., & Smith, A. J. (2011) · Journal of Business Finance & Accounting · doi:10.1111/j.1468-5957.2010.02231.x · Cited by 345

Generation Capacity Expansion in Imperfectly Competitive Restructured Electricity Markets

Murphy, F. H., & Smeers, Y. (2005) · Operations Research · doi:10.1287/opre.1050.0211 · Cited by 369

Investment in technological innovations: An option pricing approach

Grenadier, S. R., & Weiss, A. M. (1997) · Journal of Financial Economics · doi:10.1016/s0304-405x(97)00009-3 · Cited by 367

Does ownership structure of emerging-market firms affect their outward FDI? The case of the Indian automotive and pharmaceutical sectors

Bhaumik, S. K., Driffield, N., & Pal, S. (2010) · Journal of International Business Studies · doi:10.1057/jibs.2009.52 · Cited by 365

Encouraging infrastructure competition via the ladder of investment

Cave, M. E. (2006) · Telecommunications Policy · doi:10.1016/j.telpol.2005.09.001 · Cited by 355

Does Foreign Direct Investment Crowd Out Domestic Entrepreneurship?

Backer, K. D., & Sleuwaegen, L. E. (2003) · Review of Industrial Organization · doi:10.1023/a:1022180317898 · Cited by 374

Entrepreneurship As a Field of Research: Encouraging Dialogue and Debate

Zahra, S. A., & Dess, G. G. (2001) · Academy of Management Review · doi:10.5465/amr.2001.4011916 · Cited by 358

Volatility and commodity price dynamics

Pindyck, R. S. (2004) · Journal of Futures Markets · doi:10.1002/fut.20120 · Cited by 358

A Formal Model of Learning and Policy Diffusion

Volden, C., Ting, M. M., & Carpenter, D. P. (2008) · American Political Science Review · doi:10.1017/s0003055408080271 · Cited by 337

Social Learning and Peer Effects in Consumption: Evidence from Movie Sales

Moretti, E. (2011) · The Review of Economic Studies · doi:10.1093/restud/rdq014 · Cited by 355

Throwing Good Money after Bad? Political and Institutional Influences on Sequential Decision Making in the Venture Capital Industry

Güler, I. (2007) · Administrative Science Quarterly · doi:10.2189/asqu.52.2.248 · Cited by 334

Dynamic reserve site selection

Costello, C., & Polasky, S. (2004) · Resource and Energy Economics · doi:10.1016/j.reseneeco.2003.11.005 · Cited by 345

Real Options Analysis and Strategic Decision Making

Bowman, E. H., & Moskowitz, G. T. (2001) · Organization Science · doi:10.1287/orsc.12.6.772.10080 · Cited by 343

To thine own self be true: Images of self, images of opportunity, and entrepreneurial action

Mitchell, J., & Shepherd, D. A. (2008) · Journal of Business Venturing · doi:10.1016/j.jbusvent.2008.08.001 · Cited by 348

Real options and preemption under incomplete information

Lambrecht, B. M., & Perraudin, W. R. M. (2002) · Journal of Economic Dynamics and Control · doi:10.1016/s0165-1889(01)00064-1 · Cited by 343

Fiscal Policy and the Terms of Trade in an Analytical Two-Country Dynamic Model

Bianconi, M. (2003) · International Tax and Public Finance · doi:10.1023/a:1022224928986 · Cited by 7

Monetary-fiscal policy interactions and the price level:Background and beyond

Leeper, E. M., & Yun, T. (2006) · International Tax and Public Finance · doi:10.1007/s10797-006-8599-2 · Cited by 40

Unemployment as excess supply of labor: Implications for wage and price inflation

Casares, M. (2010) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2009.12.002 · Cited by 16

Stabilisation, Policy Targets and Unemployment in Imperfectly Competitive Economies

Bratsiotis, G. J., & Martin, C. (1999) · Scandinavian Journal of Economics · doi:10.1111/1467-9442.00155 · Cited by 55

The macroeconomic impact of the nixon wage and price controls: A general equilibrium approach

Davidson, L. S. (1983) · Journal of Macroeconomics · doi:10.1016/0164-0704(83)90031-9