Data/hora: 06/06/2024 13:23:04

Provedor de dados: 	31	
País: 	United States	
Título: 	Estimation of a Backward-Bending Investment Demand Function for Agribusiness Firms	
Autores: 	Kropp,   Jaclyn D.; Power,   Gabriel J.	
Data: 	2010-05-02	
Ano: 	2010	
Palavras-chave: 	Investment demand; Irreversible investment; Real options; Agribusiness; Agricultural Finance; Financial Economics; D81; D92; Q13.	
Resumo: 	We investigate irreversible investment behavior under uncertainty of payoffs using U.S. firm-level panel data. We estimate the relationship between the firm’s investment to capital ratio and the interest rate, while controlling for investment opportunities, real option values, uncertainty and profitability. The results indicate the investment demand curve is a backward-bending function of the interest rate; at low interest rates, an increase in the interest rate leads to increased investment by increasing the cost of postponing investment. Firm investment behavior is also consistent with real options behavior. The investment behavior of agribusiness firms is significantly different from firms in other sectors.	
Tipo: 	Conference Paper or Presentation	
Idioma: 	Inglês	
Identificador: 	http://purl.umn.edu/61293	
Relação: 	Agricultural and Applied Economics Association&gt;2010 Annual Meeting, July 25-27, 2010, Denver, Colorado

Selected Paper

11630	
Formato: 	23