Investing in finite-life carbon emissions reduction program under risk and idiosyncratic uncertainty
| dc.rights.license | open | en_US |
| hal.structure.identifier | Institut de Recherche en Gestion des Organisations [IRGO] | |
| dc.contributor.author | FOUILLOUX THOMASSET, Jessica | |
| dc.contributor.author | MORAUX, Franck | |
| dc.contributor.author | VIVIANI, Jean-Laurent | |
| dc.date.accessioned | 2021-06-16T08:15:06Z | |
| dc.date.available | 2021-06-16T08:15:06Z | |
| dc.date.issued | 2015-07 | |
| dc.identifier.issn | 0301-4215 | en_US |
| dc.identifier.uri | https://oskar-bordeaux.fr/handle/20.500.12278/79152 | |
| dc.description.abstractEn | This paper aims at emphasizing the ability of new frameworks of real option model to highlight key characteristics of industrial Carbon Emissions Reduction Program investment decision. We develop both theoretical arguments and numerical simulations with structural parameters calibrated on real-life data. We find that both radical uncertainty and risk lead to speed-up green investments, compared to the predictions of real option models that are normally used in green investment literature. The conventional “wait and see” attitude, questioned in recent developments of the real option theory, is not validated. In conclusion, our results should foster companies to implement green investments and help governments to define appropriate incentives to encourage green investments. Of particular note, the paper highlights that finance theory is not necessarily an obstacle to green investment decisions. | |
| dc.language.iso | EN | en_US |
| dc.subject.en | Green investment | |
| dc.subject.en | Irreversibility | |
| dc.subject.en | Option to wait | |
| dc.subject.en | Real option | |
| dc.subject.en | Timing of investments | |
| dc.subject.en | Uncertainty | |
| dc.title.en | Investing in finite-life carbon emissions reduction program under risk and idiosyncratic uncertainty | |
| dc.type | Article de revue | en_US |
| dc.identifier.doi | 10.1016/j.enpol.2014.12.004 | en_US |
| dc.subject.hal | Sciences de l'Homme et Société/Gestion et management | en_US |
| bordeaux.journal | Energy Policy | en_US |
| bordeaux.page | 310-320 | en_US |
| bordeaux.volume | 82 | en_US |
| bordeaux.hal.laboratories | IRGO (Institut de Recherche en Gestion des Organisations) - EA 4190 | en_US |
| bordeaux.institution | Université de Bordeaux | en_US |
| bordeaux.team | Management bancaire et financier | en_US |
| bordeaux.peerReviewed | oui | en_US |
| bordeaux.inpress | non | en_US |
| hal.export | false | |
| bordeaux.COinS | ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=Energy%20Policy&rft.date=2015-07&rft.volume=82&rft.spage=310-320&rft.epage=310-320&rft.eissn=0301-4215&rft.issn=0301-4215&rft.au=FOUILLOUX%20THOMASSET,%20Jessica&MORAUX,%20Franck&VIVIANI,%20Jean-Laurent&rft.genre=article |
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