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dc.rights.licenseopenen_US
hal.structure.identifierInstitut de Recherche en Gestion des Organisations [IRGO]
dc.contributor.authorFOUILLOUX THOMASSET, Jessica
dc.contributor.authorMORAUX, Franck
dc.contributor.authorVIVIANI, Jean-Laurent
dc.date.accessioned2021-06-16T08:15:06Z
dc.date.available2021-06-16T08:15:06Z
dc.date.issued2015-07
dc.identifier.issn0301-4215en_US
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/79152
dc.description.abstractEnThis 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.isoENen_US
dc.subject.enGreen investment
dc.subject.enIrreversibility
dc.subject.enOption to wait
dc.subject.enReal option
dc.subject.enTiming of investments
dc.subject.enUncertainty
dc.title.enInvesting in finite-life carbon emissions reduction program under risk and idiosyncratic uncertainty
dc.typeArticle de revueen_US
dc.identifier.doi10.1016/j.enpol.2014.12.004en_US
dc.subject.halSciences de l'Homme et Société/Gestion et managementen_US
bordeaux.journalEnergy Policyen_US
bordeaux.page310-320en_US
bordeaux.volume82en_US
bordeaux.hal.laboratoriesIRGO (Institut de Recherche en Gestion des Organisations) - EA 4190en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.teamManagement bancaire et financieren_US
bordeaux.peerReviewedouien_US
bordeaux.inpressnonen_US
hal.exportfalse
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