{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,2,21]],"date-time":"2025-02-21T02:08:37Z","timestamp":1740103717799,"version":"3.37.3"},"reference-count":42,"publisher":"Wiley","license":[{"start":{"date-parts":[[2017,1,1]],"date-time":"2017-01-01T00:00:00Z","timestamp":1483228800000},"content-version":"unspecified","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"DOI":"10.13039\/501100002822","name":"Central South University","doi-asserted-by":"publisher","award":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"],"award-info":[{"award-number":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"]}],"id":[{"id":"10.13039\/501100002822","id-type":"DOI","asserted-by":"publisher"}]},{"name":"Hunan Province Science and Technology Development Funds","award":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"],"award-info":[{"award-number":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"]}]},{"DOI":"10.13039\/100009377","name":"Education Department of Hunan Province","doi-asserted-by":"publisher","award":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"],"award-info":[{"award-number":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"]}],"id":[{"id":"10.13039\/100009377","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/501100002822","name":"Central South University","doi-asserted-by":"publisher","award":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"],"award-info":[{"award-number":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"]}],"id":[{"id":"10.13039\/501100002822","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/501100001809","name":"National Natural Science Foundation of China","doi-asserted-by":"publisher","award":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"],"award-info":[{"award-number":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"]}],"id":[{"id":"10.13039\/501100001809","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/501100001809","name":"National Natural Science Foundation of China","doi-asserted-by":"publisher","award":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"],"award-info":[{"award-number":["2015","2015RS4045","15B261","2014JGB36","71672193","71403096"]}],"id":[{"id":"10.13039\/501100001809","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Complexity"],"published-print":{"date-parts":[[2017]]},"abstract":"<jats:p>This paper uses a real options approach to address optimal timing and size of a logistics park investment with logistics demand volatility. Two important problems are examined: when should an investment be introduced, and what size should it be? A real option model is proposed to explicitly incorporate the effect of government subsidies on logistics park investment. Logistic demand that triggers the threshold for investment in a logistics park project is explored analytically. Comparative static analyses of logistics park investment are also carried out. Our analytical results show that <mml:math xmlns:mml=\"http:\/\/www.w3.org\/1998\/Math\/MathML\" id=\"M1\"><mml:mo stretchy=\"false\">(<\/mml:mo><mml:mn fontstyle=\"italic\">1<\/mml:mn><mml:mo stretchy=\"false\">)<\/mml:mo><\/mml:math> investors will select smaller sized logistics parks and prepone the investment if government subsidies are considered; <mml:math xmlns:mml=\"http:\/\/www.w3.org\/1998\/Math\/MathML\" id=\"M2\"><mml:mo stretchy=\"false\">(<\/mml:mo><mml:mn fontstyle=\"italic\">2<\/mml:mn><mml:mo stretchy=\"false\">)<\/mml:mo><\/mml:math> the real option will postpone the optimal investment timing of logistics parks compared with net present value approach; and <mml:math xmlns:mml=\"http:\/\/www.w3.org\/1998\/Math\/MathML\" id=\"M3\"><mml:mo stretchy=\"false\">(<\/mml:mo><mml:mn fontstyle=\"italic\">3<\/mml:mn><mml:mo stretchy=\"false\">)<\/mml:mo><\/mml:math> logistic demands can significantly affect the optimal investment size and timing of logistics park investment.<\/jats:p>","DOI":"10.1155\/2017\/2813816","type":"journal-article","created":{"date-parts":[[2017,12,5]],"date-time":"2017-12-05T18:31:01Z","timestamp":1512498661000},"page":"1-12","source":"Crossref","is-referenced-by-count":5,"title":["Optimal Investment Timing and Size of a Logistics Park: A Real Options Perspective"],"prefix":"10.1155","volume":"2017","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-1172-0161","authenticated-orcid":true,"given":"Dezhi","family":"Zhang","sequence":"first","affiliation":[{"name":"School of Traffic & Transportation Engineering, Central South University, Changsha, Hunan 410075, China"},{"name":"Key Laboratory of Traffic Safety on Track of Ministry of Education, Central South University, Changsha, Hunan 410075, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Jiehui","family":"Jiang","sequence":"additional","affiliation":[{"name":"School of Traffic & Transportation Engineering, Central South University, Changsha, Hunan 410075, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-3731-4006","authenticated-orcid":true,"given":"Shuangyan","family":"Li","sequence":"additional","affiliation":[{"name":"College of Transportation and Logistics, Central South University of Forestry and Technology, Changsha, Hunan 410004, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Xiamiao","family":"Li","sequence":"additional","affiliation":[{"name":"School of Traffic & Transportation Engineering, Central South University, Changsha, Hunan 410075, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Qingwen","family":"Zhan","sequence":"additional","affiliation":[{"name":"School of Traffic & Transportation Engineering, Central South University, Changsha, Hunan 410075, China"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","reference":[{"key":"1","doi-asserted-by":"publisher","DOI":"10.1016\/j.eswa.2013.07.078"},{"issue":"3, article 1","key":"2","volume":"6","year":"2010","journal-title":"Electronic Scientific Journal of Logistics"},{"key":"3","doi-asserted-by":"publisher","DOI":"10.3846\/16484142.2015.1004644"},{"key":"4","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2010.10.016"},{"key":"5","doi-asserted-by":"publisher","DOI":"10.1016\/j.sbspro.2013.08.070"},{"key":"6","doi-asserted-by":"publisher","DOI":"10.1016\/j.retrec.2014.04.002"},{"key":"8","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2016.05.018"},{"key":"43"},{"key":"25","doi-asserted-by":"publisher","DOI":"10.1016\/j.trb.2015.05.006"},{"key":"9","doi-asserted-by":"publisher","DOI":"10.1016\/S1366-5545(99)00009-5"},{"key":"10","doi-asserted-by":"publisher","DOI":"10.1016\/j.tre.2014.05.018"},{"key":"11","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2014.11.016"},{"key":"12","doi-asserted-by":"publisher","DOI":"10.1016\/j.jtrangeo.2015.05.007"},{"key":"13","doi-asserted-by":"publisher","DOI":"10.1016\/j.cor.2012.07.011"},{"key":"14","doi-asserted-by":"publisher","DOI":"10.1016\/j.eswa.2015.06.009"},{"key":"15","doi-asserted-by":"publisher","DOI":"10.1016\/j.tra.2013.11.009"},{"key":"16","doi-asserted-by":"publisher","DOI":"10.1016\/j.jtrangeo.2015.10.003"},{"year":"2012","key":"17"},{"key":"18","doi-asserted-by":"publisher","DOI":"10.1016\/j.asoc.2014.06.028"},{"key":"19","doi-asserted-by":"publisher","DOI":"10.1007\/s13676-014-0062-4"},{"key":"20","doi-asserted-by":"publisher","DOI":"10.1016\/j.trd.2015.02.008"},{"year":"1994","key":"21"},{"key":"22","doi-asserted-by":"publisher","DOI":"10.2307\/1884175"},{"key":"23","doi-asserted-by":"publisher","DOI":"10.1080\/01441647.2011.589539"},{"key":"24","doi-asserted-by":"publisher","DOI":"10.1007\/s11067-015-9315-5"},{"key":"26","doi-asserted-by":"publisher","DOI":"10.1016\/j.tra.2011.06.004"},{"key":"27","doi-asserted-by":"publisher","DOI":"10.1016\/j.trb.2010.11.005"},{"key":"28","doi-asserted-by":"publisher","DOI":"10.1016\/j.trb.2017.02.001"},{"key":"29","doi-asserted-by":"publisher","DOI":"10.1016\/j.trb.2013.04.004"},{"key":"30","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2015.05.019"},{"key":"31","doi-asserted-by":"publisher","DOI":"10.1007\/s11067-015-9315-5"},{"key":"32","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.44.8.1059"},{"key":"33","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2007.05.044"},{"key":"34","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2012.01.017"},{"key":"35","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2015.12.027"},{"key":"36","doi-asserted-by":"publisher","DOI":"10.1016\/j.tre.2017.03.007"},{"year":"2006","key":"37"},{"key":"38","doi-asserted-by":"publisher","DOI":"10.1007\/BF00165470"},{"key":"39","doi-asserted-by":"publisher","DOI":"10.1007\/s11067-010-9133-8"},{"key":"40","doi-asserted-by":"publisher","DOI":"10.1002\/atr.155"},{"key":"41","doi-asserted-by":"publisher","DOI":"10.1155\/2017\/6350562"},{"key":"42","first-page":"399","volume":"2","year":"2012","journal-title":"Research in Logistics & Production"}],"container-title":["Complexity"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/downloads.hindawi.com\/journals\/complexity\/2017\/2813816.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/downloads.hindawi.com\/journals\/complexity\/2017\/2813816.xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/downloads.hindawi.com\/journals\/complexity\/2017\/2813816.pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2017,12,5]],"date-time":"2017-12-05T18:31:28Z","timestamp":1512498688000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.hindawi.com\/journals\/complexity\/2017\/2813816\/"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2017]]},"references-count":42,"alternative-id":["2813816","2813816"],"URL":"https:\/\/doi.org\/10.1155\/2017\/2813816","relation":{},"ISSN":["1076-2787","1099-0526"],"issn-type":[{"type":"print","value":"1076-2787"},{"type":"electronic","value":"1099-0526"}],"subject":[],"published":{"date-parts":[[2017]]}}}