As part of the series of the „Finance Research Seminar“, sportsbet casino review welcomes sportsbet casino review from TU Wien to present his sportsbet casino review paper.
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sportsbet casino review and Corporate Investment Decisions
(joint with Michael Halling, Jin Yu and sportsbet casino review)
This paper develops a dynamic general equilibrium model with sportsbet casino review and endogenous corporate investment decisions. We find that firms’ responses to changing investor tastes mitigate or reverse the effect that preference shocks have on valuation when investment decisions are fixed. sportsbet casino review delay the move to a greener economy, especially when preference shocks correlate positively with aggregate cash flows. Risk aversion initially helps the transition, but later slows it down. Correlations between stock returns of firms in brown and green sectors increase (decrease) following an increase (decrease) in green investors’ social preferences. Small changes in social preferences can have large supply effects even when effects on the cost of capital wedge between green and brown firms are negligible.
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