An Empirical Analysis of the Determinants of Project Finance: Cash Flow Volatility and Correlation
This paper investigates the effect of correlation and volatilities of firm and project cash flows on the choice of project finance. I use a pure-play approach to measure unobservable project cash flows for a sample of 440 US and non-US firms that invested in 577 projects from 1990 to 2008 and find e...
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| Format: | Others |
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Digital Archive @ GSU
2010
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| Online Access: | http://digitalarchive.gsu.edu/finance_diss/18 http://digitalarchive.gsu.edu/cgi/viewcontent.cgi?article=1017&context=finance_diss |