Results 21 to 30 of about 70 (70)
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Real Options and Optionalities in Shipping
2009In Chapters 7 and 8, we discussed options on shipping freight rates, hedging with freight options, as well as their pricing and trading strategies. In this chapter we explore the natural extension of these instruments for valuing flexibility and optionality in investment and operational projects using ‘real option analysis’ (ROA).
Nikos K. Nomikos, Amir H. Alizadeh
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Afforestation as a real option: Choosing among options
2003The theory of real options has received a considerable interest in recent years. At the core of the literature has been a so-called single-option model, i.e. a model where the decision-maker must decide the timing of a real investment given stochastic returns of the single asset in question and where the investment is a sunk cost.
Malchow-Møller, Nikolaj +1 more
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The Evaluation of Venture Capital as an Instalment Option: Valuing Real Options Using Real Options [PDF]
, 2004 Venture Capital is an important source of funding for start-up companies and little is known about how much a Venture Capitalist should contribute to the Project. Real Option analysis has been proposed to evaluate staged financing of Venture Capital projects but many of the input parameters to option pricing models are unobservable leading to ...
Mark H. A. Davis +2 more
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SSRN Electronic Journal, 2004
AbstractCash Flow from operations can be controlled using real options. In this normative paper, we quantify Trigeorgis's intuition[Trigeorgis, L., 1996. Real options: Managerial flexibility and strategy in resource allocation. Cambridge, MA: MIT Press](p 123), about the risk management properties of real options with respect to downside risk.
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AbstractCash Flow from operations can be controlled using real options. In this normative paper, we quantify Trigeorgis's intuition[Trigeorgis, L., 1996. Real options: Managerial flexibility and strategy in resource allocation. Cambridge, MA: MIT Press](p 123), about the risk management properties of real options with respect to downside risk.
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2016
Financial derivatives constitute a large proportion of trading in world financial markets, due to their unbeatable features. Derivatives are popular in fact for their flexibility and combinability.
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Financial derivatives constitute a large proportion of trading in world financial markets, due to their unbeatable features. Derivatives are popular in fact for their flexibility and combinability.
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Proceedings of the first international conference on Information and computation economies, 1998
One of the predominant modes of accessing information in the World Wide Web consists in surfing from one document to another along hypermedia links. We have studied the dynamics of Web surfing within an economics context by considering that there is value in each page that an individual visits, and that clicking on the next page assumes that the ...
Rajan Lukose, Bernardo A. Huberman
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One of the predominant modes of accessing information in the World Wide Web consists in surfing from one document to another along hypermedia links. We have studied the dynamics of Web surfing within an economics context by considering that there is value in each page that an individual visits, and that clicking on the next page assumes that the ...
Rajan Lukose, Bernardo A. Huberman
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Journal of Applied Corporate Finance, 2000
In recent years, both practitioners and academics have argued that traditional discounted cash flow models do a poor job of capturing the value of the options embedded in many corporate actions. This paper shows how option pricing models used in valuing financial assets can be used to value three kinds of real options that are often built into ...
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In recent years, both practitioners and academics have argued that traditional discounted cash flow models do a poor job of capturing the value of the options embedded in many corporate actions. This paper shows how option pricing models used in valuing financial assets can be used to value three kinds of real options that are often built into ...
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2007 Winter Simulation Conference, 2007
Managerial flexibility has value. The ability of their managers to make smart decisions in the face of volatile market and technological conditions is essential for firms in any competitive industry. This advanced tutorial describes the use of Monte Carlo simulation and stochastic optimization for the valuation of real options that arise from the ...
John M. Charnes, Barry R. Cobb
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Managerial flexibility has value. The ability of their managers to make smart decisions in the face of volatile market and technological conditions is essential for firms in any competitive industry. This advanced tutorial describes the use of Monte Carlo simulation and stochastic optimization for the valuation of real options that arise from the ...
John M. Charnes, Barry R. Cobb
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2002
The Black-Scholes GBM model can be generalized to other models that are more realistic for particular markets. The various simple extensions to the Black-Scholes model assume constant parameters for ease of calculation. In reality the properties of time series such as volatility, mean reversion, long-term levels and jump behaviour will at the very ...
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The Black-Scholes GBM model can be generalized to other models that are more realistic for particular markets. The various simple extensions to the Black-Scholes model assume constant parameters for ease of calculation. In reality the properties of time series such as volatility, mean reversion, long-term levels and jump behaviour will at the very ...
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Journal of Applied Corporate Finance, 2000
This article discusses why many companies use committed bank facilities to finance their real options. The pace of change in the current economic environment has increased the value of financial flexibility. If and when companies choose to exercise their real options, they often require capital to finance these initiatives.
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This article discusses why many companies use committed bank facilities to finance their real options. The pace of change in the current economic environment has increased the value of financial flexibility. If and when companies choose to exercise their real options, they often require capital to finance these initiatives.
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