Real Option Exercise: Empirical Evidence
NBER Working Paper No. 25624
---- Acknowledgments ----
We thank seminar and conference participants at Babson College, ITAM, USF, Wharton, 2018 Texas Finance Festival, 2018 IDC Finance Conference, 2018 Northeastern University Finance Conference, 2018 European Finance Association Conference, 2019 American Finance Association, as well as Jules van Binsbergen, Jonathan Berk, Gustavo Grullon, John Hund, Evgeny Lyandres, Ohad Kadan, Michael Roberts, Sheridan Titman, and Pavel Zryumov for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.