| 書目名稱 | Real Options Valuation |
| 副標(biāo)題 | The Importance of In |
| 編輯 | Marcus Schulmerich |
| 視頻video | http://file.papertrans.cn/823/822190/822190.mp4 |
| 叢書名稱 | Lecture Notes in Economics and Mathematical Systems |
| 圖書封面 |  |
| 描述 | Managerial decision-making during the lifetime of a project can have im- portant implications on project handling and its contribution to shareholder value. Traditional capital budgeting methods (in particular methods based on net present value) fail to capture the role of managerial degrees of free- dom and therefore tend to lead to a systematic undervaluation of the project. In contrast, the real options approach to investment analysis characterizes decision-making flexibility in terms of (real) option rights which can be eval- uated analogously to financial options using contingent-claims pricing tech- niques widely used in capital markets. The research carried out by Marcus Schulmerich analyzes real options for n- constant and stochastic interest rates versus constant interest rates. Analyzing stochastic interest rates in the context of real options valuation is of particular relevance given their long time to maturity which makes them more vulnera- ble to interest rate risk than short-term financial options. To date, there has not been a comprehensive review of this issue in the academic literature. The fact that interest rates have fiuctuated widely over the recent years furt |
| 出版日期 | Book 20051st edition |
| 關(guān)鍵詞 | Corporate Finance; Finance; Implied Forward Rates; Monte Carlo Simulation; Options; Real Options; Stochast |
| 版次 | 1 |
| doi | https://doi.org/10.1007/3-540-28512-1 |
| isbn_ebook | 978-3-540-28512-0Series ISSN 0075-8442 Series E-ISSN 2196-9957 |
| issn_series | 0075-8442 |
| copyright | Springer-Verlag Berlin Heidelberg 2005 |
|Archiver|手機版|小黑屋|
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