Real options and investment under uncertainty : classical readings and recent contributions
"The study of investment under uncertainty was stagnant for several decades, until recent developments in real options provided the tools to revitalize the field. The techniques and insights derived from option pricing can now be used to quantify the elusive elements of managerial operating fle...
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| Другие авторы: | , |
|---|---|
| Формат: | Livre papier |
| Язык: | Anglais |
| Опубликовано: |
Cambridge(Mass.) :
MIT Press
copyright 2001.
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| Предметы: | |
| Примечание: |
Autre tirage : 2004 |
| Autres localisations: | Voir dans le Sudoc |
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| 024 | |a 9780262194464 | ||
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| 082 | |a 332.645 | ||
| 245 | 1 | 0 | |a Real options and investment under uncertainty : |b classical readings and recent contributions |c edited by Eduardo S. Schwarz and Lenos Trigeorgis. |
| 260 | |a Cambridge(Mass.) : |b MIT Press, |c copyright 2001. | ||
| 300 | |a 1 vol. (VIII-871 p.) : |b ill. ; |c 23 cm. | ||
| 500 | |a Autre tirage : 2004 | ||
| 504 | |a Bibliogr. en fin de chapitres. Index p.858-871 | ||
| 505 | 0 | |a 1. Real options and investment under uncertainty: an overview -- I- Underinvestment and conceptual options approaches -- 2. Finance theory and financial strategy -- 3. Today's options for tomorrow's growth -- 4. Valuing managerial flexibility -- 5. The options approach to capital investment -- 6. A conceptual options framework for capital budgeting -- II- Review of some basic models -- 7. Real options : an overview -- 8. A new approach to evaluating resource investments -- 9. Investment and hysteresis -- 10. The general flexibility to switch: real options revisited -- 11. Irreversibility, uncertainty and investment -- III- Valuing various real options -- 12. The value of waiting to inves -- 13. Time to build, option value and investment decisions -- 14. Abandonment value and project life -- 15. Irreversible investment, capacity choice and the value of the firm -- 16. Evaluating natural resource investments -- 17. The nature of option interactions and the valuation of investments with multiple real options -- IV- Strategy and competition -- 18. Strategy as a portfolio of rela options -- 19. The value of options in strategic acquisitions -- 20. Capital budgeting for interrelated projects: a real options approach -- 21. Flexibility and commitment in strategic investment -- 22. Strategic growth options -- 23. Investment in technological innovations: an option pricing approach -- V- Numerical techniques -- 24. A log-transformed binomial numerical analysis method for valuing complex multi-option investments -- 25. Finite difference methods and jump processes arising in the pricing of contingent claims: a synthesis -- 26. Valuation by approximation: a comparison of alternative option valuation techniques -- 27. Simulation and numerical methods in real options valuation -- VI- Applications -- 28. Applications of option-pricing theory: twenty-five years later -- 29. Scientific management at Merck: an interview with CFO Judy Lewent -- 30. Case studie on real options -- 31. The value of flexibility: the case of a dual-fuel industrial steam boiler -- 32. A real options application in natural resource investments -- 33. Managing investment opportunities under price uncertainty: from "last chance" to "wait and see" strategies -- 34. Urban land prices under uncertainty -- 35. Investments of uncertain cost: an application to the construction of nuclear power plants -- 36. Operating flexibility, global manufacturing and the option value of a multinational network -- VII- Empirical evidence -- 37. Option valuation of claims on real assets: the case of offshore petroleum leases -- 38. Empirical testing of real option-pricing models -- 39. Investor valuation of the abandonment option | |
| 520 | |a "The study of investment under uncertainty was stagnant for several decades, until recent developments in real options provided the tools to revitalize the field. The techniques and insights derived from option pricing can now be used to quantify the elusive elements of managerial operating flexibility and strategic interactions ignored or underestimated by conventional Net Present Value (NPV) and other quantitative approaches. Topics covered include the reasons for the under-investment problem and conceptual frameworks for viewing productive investment opportunities as real options ; useful valuation building blocks ; the quantifying of various types of real options separately and in combination ; strategic aspects of investment under uncertainty ; numerical analysis techniques ; a variety of applications, including the valuing of natural resources, R&D and pioneer ventures, land development, strategic acquisitions, government subsidies, power plants and pollution options, flexible manufacturing, and multinational operations ; and empirical evidence from oil leasing, land prices, and discontinued operations." (source : 4ème de couverture) | ||
| 650 | |a Options réelles (finances) | ||
| 650 | |a Investissements de capitaux | ||
| 650 | |a Incertitude | ||
| 700 | 1 | |a Schwartz, Eduardo S. |4 edt | |
| 700 | 1 | |a Trigeorgis, Lenos. |4 edt | |
| 997 | |0 111096 |1 Livre papier |a Ressource papier |c 0/Orléans/ |c 1/Orléans/BU Droit, Economie, Gestion/ |z Orléans, BU Droit, Economie, Gestion, PS16209 | ||