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Euro Membership as a Real Option Trigger: An Empirical Study of EU15 Manufacturing Firms

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Euro Membership as a Real Option Trigger : An Empirical Study of EU15 Manufacturing Firms. / Aabo, Tom; Pantzalis, Christos.

In: Journal of Applied Corporate Finance, Vol. 19, No. 4, 2007, p. 117-124.

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

Harvard

APA

CBE

Aabo T, Pantzalis C. 2007. Euro Membership as a Real Option Trigger: An Empirical Study of EU15 Manufacturing Firms. Journal of Applied Corporate Finance. 19(4):117-124.

MLA

Aabo, Tom and Christos Pantzalis. "Euro Membership as a Real Option Trigger: An Empirical Study of EU15 Manufacturing Firms". Journal of Applied Corporate Finance. 2007, 19(4). 117-124.

Vancouver

Aabo T, Pantzalis C. Euro Membership as a Real Option Trigger: An Empirical Study of EU15 Manufacturing Firms. Journal of Applied Corporate Finance. 2007;19(4):117-124.

Author

Aabo, Tom ; Pantzalis, Christos. / Euro Membership as a Real Option Trigger : An Empirical Study of EU15 Manufacturing Firms. In: Journal of Applied Corporate Finance. 2007 ; Vol. 19, No. 4. pp. 117-124.

Bibtex

@article{2b8a240096b611dcbae3000ea68e967b,
title = "Euro Membership as a Real Option Trigger: An Empirical Study of EU15 Manufacturing Firms",
abstract = "Our empirical study of manufacturing firms (NAICS 33) in the 15 countries consisting the EU prior to its 2004 expansion shows that the introduction of the Euro has made firms based in one of the twelve countries that opted to adopt the Euro more inclined than firms based in one of the three non-adopters (UK, Sweden, and Denmark) to exercise various forms of real options such as to establish alliances / partnerships, to enter new markets / market segments, to switch suppliers, and to generally expand in the Euro-area. The study furthermore shows that small, profitable and financially constrained firms are particularly likely to exercise such real options triggered by the introduction of the Euro. The results go beyond the immediate trade effects, which empirical studies have shown to be weak and without trade diversion as to the three non-adopters, and provide important insights about the potential long-term effects of Euro membership",
author = "Tom Aabo and Christos Pantzalis",
year = "2007",
language = "English",
volume = "19",
pages = "117--124",
journal = "Journal of Applied Corporate Finance",
issn = "1078-1196",
publisher = "Wiley-Blackwell Publishing, Inc.",
number = "4",

}

RIS

TY - JOUR

T1 - Euro Membership as a Real Option Trigger

T2 - An Empirical Study of EU15 Manufacturing Firms

AU - Aabo, Tom

AU - Pantzalis, Christos

PY - 2007

Y1 - 2007

N2 - Our empirical study of manufacturing firms (NAICS 33) in the 15 countries consisting the EU prior to its 2004 expansion shows that the introduction of the Euro has made firms based in one of the twelve countries that opted to adopt the Euro more inclined than firms based in one of the three non-adopters (UK, Sweden, and Denmark) to exercise various forms of real options such as to establish alliances / partnerships, to enter new markets / market segments, to switch suppliers, and to generally expand in the Euro-area. The study furthermore shows that small, profitable and financially constrained firms are particularly likely to exercise such real options triggered by the introduction of the Euro. The results go beyond the immediate trade effects, which empirical studies have shown to be weak and without trade diversion as to the three non-adopters, and provide important insights about the potential long-term effects of Euro membership

AB - Our empirical study of manufacturing firms (NAICS 33) in the 15 countries consisting the EU prior to its 2004 expansion shows that the introduction of the Euro has made firms based in one of the twelve countries that opted to adopt the Euro more inclined than firms based in one of the three non-adopters (UK, Sweden, and Denmark) to exercise various forms of real options such as to establish alliances / partnerships, to enter new markets / market segments, to switch suppliers, and to generally expand in the Euro-area. The study furthermore shows that small, profitable and financially constrained firms are particularly likely to exercise such real options triggered by the introduction of the Euro. The results go beyond the immediate trade effects, which empirical studies have shown to be weak and without trade diversion as to the three non-adopters, and provide important insights about the potential long-term effects of Euro membership

M3 - Journal article

VL - 19

SP - 117

EP - 124

JO - Journal of Applied Corporate Finance

JF - Journal of Applied Corporate Finance

SN - 1078-1196

IS - 4

ER -