Zobrazeno 1 - 10
of 31
pro vyhledávání: '"Steven R. Grenadier"'
Autor:
Samuel Antill, Steven R. Grenadier
Publikováno v:
Journal of Financial Economics. 149:218-234
Using a continuous-time model of litigation, we show that the increasingly popular practice of third-party litigation financing has ambiguous welfare implications. A defendant and a plaintiff bargain over a settlement payment. The defendant takes cos
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::10546cfded5194f914560e519f698747
https://doi.org/10.1016/j.jfineco.2023.05.004
https://doi.org/10.1016/j.jfineco.2023.05.004
Publikováno v:
Journal of Financial Economics. 135:1-15
We model a dynamic economy with strategic complementarity among investors and study how endogenous government interventions mitigate coordination failures. We establish equilibrium existence and uniqueness, and we show that one intervention can affec
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::80c64343fd3fa8d2366e1a4f5f7f8ce9
https://doi.org/10.1016/j.jfineco.2019.05.011
https://doi.org/10.1016/j.jfineco.2019.05.011
Autor:
Steven R. Grenadier, Samuel Antill
Publikováno v:
Journal of Financial Economics. 133:198-224
We model a firm’s optimal capital structure decision in a framework in which it may later choose to enter either Chapter 11 reorganization or Chapter 7 liquidation. Creditors anticipate equityholders’ ex-post reorganization incentives and price t
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::57ad2ffb405cafd934789a85d248bcc7
https://doi.org/10.1016/j.jfineco.2018.05.012
https://doi.org/10.1016/j.jfineco.2018.05.012
Publikováno v:
American Economic Review. 106:2552-2581
This paper develops a theory of how organizations make timing decisions. We consider a problem where an uninformed principal decides when to exercise an option and interacts with an informed but biased agent. This problem is common: examples include
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::ce1dd717e016e5ac37f69a28d0ec5132
https://doi.org/10.1257/aer.20150416
https://doi.org/10.1257/aer.20150416
Autor:
Steven R. Grenadier, Samuel Antill
Publikováno v:
SSRN Electronic Journal.
We model a firm’s optimal capital structure decision in a framework in which it may later choose to enter either Chapter 11 reorganization or Chapter 7 liquidation. Creditors anticipate equityholders’ ex-post reorganization incentives and price t
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::5064fafa563fdf4fd709b4215cd979b3
https://doi.org/10.2139/ssrn.3030978
https://doi.org/10.2139/ssrn.3030978
Publikováno v:
SSRN Electronic Journal.
We model a dynamic economy with strategic complementarity among investors and government interventions that mitigate coordination failures. We establish equilibrium existence and uniqueness, and show that one intervention can affect subsequent interv
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::332b7626694c4b59a4e8518f5c0ab154
https://doi.org/10.2139/ssrn.2742818
https://doi.org/10.2139/ssrn.2742818
Autor:
Andrey Malenko, Steven R. Grenadier
Publikováno v:
The Journal of Finance. 65:1949-1986
Traditional real options models demonstrate the importance of the “option to wait” due to uncertainty over future shocks to project cash flows. However, there is often another important source of uncertainty: uncertainty over the permanence of pa
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::a84d14e1fda18798462897ea2571342a
https://doi.org/10.1111/j.1540-6261.2010.01599.x
https://doi.org/10.1111/j.1540-6261.2010.01599.x
Autor:
Steven R. Grenadier, Neng Wang
Publikováno v:
Journal of Financial Economics. 75:493-533
This paper provides a model of optimal investment timing in a decentralized firm under conditions of agency and asymmetric information. Using a real options approach, we show that an underlying option to invest can be decomposed into two components:
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::5097449e988bb320d944af1728f4cee3
https://doi.org/10.1016/j.jfineco.2004.02.004
https://doi.org/10.1016/j.jfineco.2004.02.004
Autor:
Steven R. Grenadier
Publikováno v:
Journal of Business. 78(4):1173-1214
This article provides a unified equilibrium approach to valuing a wide variety of commercial real estate lease contracts. Using a game-theoretic variant of real options analysis, the underlying real estate asset market is modeled as a continuous-time
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::a844478f68457076cd8722e52859b7e4
Autor:
Steven R. Grenadier
Publikováno v:
Review of Financial Studies. 15:691-721
Under the standard real options approach to investment under uncertainty, agents formulate optimal exercise strategies in isolation and ignore competitive interactions. However, in many real-world asset markets, exercise strategies cannot be determin
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::19df6361c9468c411db9213995f170ac
https://doi.org/10.1093/rfs/15.3.691
https://doi.org/10.1093/rfs/15.3.691