When Are Real Options Exercised? An Empirical Study of Mine Closings
In this article, we study a well-known real option: the opening and closing of mines. Using a new database that tracks the annual opening and closing decisions of 285 developed North American gold mines in the period 1988-1997, we find that the real options model is a useful descriptor of mines'...
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| Format: | Journal article |
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2002
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