Research
Publications in real options, corporate finance, M&A, and investment under uncertainty.
My research examines decisions that are difficult to reverse: when firms invest, how they finance those investments, and how regulation or strategic interaction changes the value of waiting.
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Publications
Investment and leverage decisions under caps and floors
Artur Rodrigues. International Review of Financial Analysis 97, 103857.
On the determinants of the dynamic choice between mergers and tender offers
Erik Lukas, Pedro J. Pereira, and Artur Rodrigues. Journal of Corporate Finance 83, 102489.
Optimal price subsidies under uncertainty
Luís Barbosa, Artur Rodrigues, and Adélio Sardinha. European Journal of Operational Research 303(1), 471–479.
Investment timing, capacity choice and optimal floors and ceilings
Dean Paxson, Pedro J. Pereira, and Artur Rodrigues. Journal of Economic Dynamics and Control 139, 104430.
Optimal timing and capacity choice with taxes and subsidies under uncertainty
Alcino Azevedo, Pedro J. Pereira, and Artur Rodrigues. Omega 102, 102312.
Toehold acquisitions as option games
João Lacerda, Pedro J. Pereira, and Artur Rodrigues. Economics Letters 209, 110093.
Feed-in tariff contract schemes and regulatory uncertainty
Luís Barbosa, Cláudia Nunes, Artur Rodrigues, and Adélio Sardinha. European Journal of Operational Research 287(1), 331–347.
Investment decisions with finite-lived collars
Roger Adkins, Dean Paxson, Pedro J. Pereira, and Artur Rodrigues. Journal of Economic Dynamics and Control 103, 185–204.
Foreign direct investment with tax holidays and policy uncertainty
Alcino Azevedo, Pedro J. Pereira, and Artur Rodrigues. International Journal of Finance & Economics 24(2), 727–739.
Designing optimal M&A strategies under uncertainty
Erik Lukas, Pedro J. Pereira, and Artur Rodrigues. Journal of Economic Dynamics and Control 104, 1–20.
Investing in a random start American option under competition
Pedro J. Pereira and Artur Rodrigues. Finance Research Letters 28, 388–397.
Bargaining merger terms and the effect on the announcement returns
Pedro J. Pereira and Artur Rodrigues. International Review of Economics & Finance 59, 510–521.
Feed-in tariffs with minimum price guarantees and regulatory uncertainty
Luís Barbosa, Paulo Ferrão, Artur Rodrigues, and Adélio Sardinha. Energy Economics 72, 517–541.
Non-compete covenants, litigation and garden leaves
Alcino Azevedo, Pedro J. Pereira, and Artur Rodrigues. Journal of Business Research 88, 197–211.
Non-competition covenants in acquisition deals
Alcino Azevedo, Pedro J. Pereira, and Artur Rodrigues. Economics Letters 143, 61–65.
Discrete dividends and the FTSE-100 index options valuation
Nelson Areal and Artur Rodrigues. Quantitative Finance 14(10), 1765–1784.
Investment decisions in finite-lived monopolies
Pedro J. Pereira and Artur Rodrigues. Journal of Economic Dynamics and Control 46, 219–236.
Fast trees for options with discrete dividends
Nelson Areal and Artur Rodrigues. Journal of Derivatives 21(1), 49–63.
Optimal investment with two-factor uncertainty
Manuel R. Armada, Pedro J. Pereira, and Artur Rodrigues. Mathematics and Financial Economics 7(4), 509–530.
Optimal subsidies and guarantees in public-private partnerships
Manuel R. Armada, Pedro J. Pereira, and Artur Rodrigues. European Journal of Finance 18(5), 469–495.
On the dangers of a simplistic American option simulation valuation method
Nelson Areal and Artur Rodrigues. European Journal of Finance 16(4), 373–379.
On improving the least squares Monte Carlo option valuation method
Nelson Areal, Artur Rodrigues, and Manuel R. Armada. Review of Derivatives Research 11(1–2), 119–151.
Evaluating student allocation in the Portuguese public higher education system
Miguel Portela, Nelson Areal, Carla Sá, Fernando Alexandre, Hugo Cerejeira, Ana Carvalho, and Artur Rodrigues. Higher Education 56(2), 185–203.
The valuation of modular projects: A real options approach to the value of splitting
Artur Rodrigues and Manuel J. R. Armada. Global Finance Journal 18(2), 205–227.