Project Valuation Using Real Options
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Project Valuation Using Real Options
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Author : Prasad Kodukula
language : en
Publisher: J. Ross Publishing
Release Date : 2006-07-15
Project Valuation Using Real Options written by Prasad Kodukula and has been published by J. Ross Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-07-15 with Business & Economics categories.
Business leaders are frequently faced with investment decisions on new and ongoing projects. The challenge lies in deciding what projects to choose, expand, contract, defer, or abandon, and which method of valuation to use is the key tool in the process. This title presents a step-by-step, practical approach to real options valuation to make it easily understandable by practitioners as well as senior management. This systematic approach to project valuation helps you minimize upfront investment risks, exercise flexibility in decision making, and maximize the returns. Whereas the traditional decision tools such as discounted cash flow/net present value (DCF/NPV) analysis assume a “fixed” path ahead, real options analysis offers more flexible strategies. Considered one of the greatest innovations of modern finance, the real options approach is based on Nobel-prize winning work by three MIT economists, Fischer Black, Robert Merton, and Myron Scholes.
Real Options
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Author : Martha Amram
language : en
Publisher:
Release Date : 1957
Real Options written by Martha Amram and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1957 with categories.
Real Estate Valuation Theory
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Author : Ko Wang
language : en
Publisher: Springer Science & Business Media
Release Date : 2002-09-30
Real Estate Valuation Theory written by Ko Wang and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-30 with Business & Economics categories.
Is real property appraisal evolving, or have all of the "big ideas" already been conceived? This question has been circulating among the leaders of the Appraisal Institute during the past several annual meetings, usually encountering little in the way of satisfying answers. This is not too surprising, because grand ideas and new knowledge do not typically evolve from off-hand conversation. They are the product of focused intellectual activity and hours of difficult work. This unquenched thirst for new knowledge is the primary reason for assembling this collection of new manuscripts dealing with valuation theory, which was financially underwritten by the Appraisal Institute. Their generosity and willingness to partner with the American Real Estate Society made this collection of thoughtful and thought provoking essays possible. They are the result of a global response to a worldwide call for papers, and demonstrate that real estate valuation is indeed an international discipline. The United States, Australia and New Zealand, Southeast Asia, the Pacific Rim, and Europe are all represented by this impressive collection of authors. Together, the eighteen essays that make up this volume demonstrate that there are a sufficient number of "big ideas" to challenge and improve the appraisal profession for years to come. Real Estate Valuation Theory is organized around five categories of intellectual contribution to the whole-appraiser decision making and valuation accuracy, application of nontraditional appraisal techniques such as regression and the minimum-variance grid method, appraising contaminated property, ad valorem tax assessment, and new perspectives on traditional appraisal methods. One common thread is that all of the papers are exceptionally well written and thought provoking.
Real Options In Practice
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Author : Marion A. Brach
language : en
Publisher: John Wiley & Sons
Release Date : 2003-04-07
Real Options In Practice written by Marion A. Brach and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-04-07 with Business & Economics categories.
Explores real option theory applied in practice Real options are quickly becoming the valuation and decision-making method of choice for many companies, including oil and gas companies, utilities and natural resource companies, pharmaceutical and biotech companies, Internet companies, and many others. Real Options in Practice allows readers to view the world of real options from the vantage point of a corporate practitioner applying real option valuation techniques on a regular basis. Expert Marion Brach describes the challenges of implementing a real option framework in practice within a corporate setting. Touching on the real options most firms care about, Real Options in Practice identifies the classic types of real options-deferral, abandonment, switching, expansion, and compound-and explores the main concepts critical to understanding real option theory. Through Brach's own three-step real option valuation method readers will learn how the theory of real options is now being applied to drive better, more profitable corporate decision-making. Marion A. Brach, MD, MBA (Hagen, Germany), has undertaken financial valuation of business opportunities and acquisitions using scenario and real option valuation in the biotech industry. A recognized expert on real option theory and practice, Brach received her MBA from the Manchester Business School and frequently speaks at real option seminars.
Real Options
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Author : Lenos Trigeorgis
language : en
Publisher:
Release Date : 1998
Real Options written by Lenos Trigeorgis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Capital budget categories.
Real Options Analysis
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Author : Johnathan Mun
language : en
Publisher: Wiley
Release Date : 2006-02-17
Real Options Analysis written by Johnathan Mun and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-17 with Business & Economics categories.
"Mun demystifies real options analysis and delivers a powerful, pragmatic guide for decision-makers and practitioners alike. Finally, there is a book that equips professionals to easily recognize, value, and seize real options in the world around them." --Jim Schreckengast, Senior VP, R&D Strategy, Gemplus International SA, France Completely revised and updated to meet the challenges of today's dynamic business environment, Real Options Analysis, Second Edition offers you a fresh look at evaluating capital investment strategies by taking the strategic decision-making process into consideration. This comprehensive guide provides both a qualitative and quantitative description of real options; the methods used in solving real options; why and when they are used; and the applicability of these methods in decision making.
Real Options And Investment Under Uncertainty
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Author : Eduardo S. Schwartz
language : en
Publisher: MIT Press
Release Date : 2004
Real Options And Investment Under Uncertainty written by Eduardo S. Schwartz and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
The study of investment under uncertainty was stagnant for several decades until developments in real options revitalized the field. The topics covered in this book include the reasons behind the under-investment programme.
Real R D Options
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Author : Dean Paxson
language : en
Publisher: Butterworth-Heinemann
Release Date : 2003-01-17
Real R D Options written by Dean Paxson and has been published by Butterworth-Heinemann this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-17 with Business & Economics categories.
This text addresses a wide range of issues in valuation using the Real Options technique. It covers the whole area of Real Options and looks closely at developments, especially in valuing technology companies. Authors in Europe, North and South America, Asia and Africa provide seven Real Options models and applications.
Valuation Approaches And Metrics
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Author : Aswath Damodaran
language : en
Publisher: Now Publishers Inc
Release Date : 2005
Valuation Approaches And Metrics written by Aswath Damodaran and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.
The Dark Side Of Valuation
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Author : Aswath Damodaran
language : en
Publisher: Ft Press
Release Date : 2010
The Dark Side Of Valuation written by Aswath Damodaran and has been published by Ft Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Guide to valuing companies in all stages and industries, fully revised to reflect today's financial markets and crisis. • •Indispensable, up-to-the-minute guidance from the world's #1 expert in corporate valuation, Aswath Damodaran. •Expanded to include detailed coverage of companies in financial services, real estate, infrastructure, human capital, commodity, and cyclical markets. •Answers crucial valuation questions that have suddenly emerged in the wake of the global financial crisis. Financial professionals have long faced the challenge of accurately valuing companies that are difficult to value using conventional methodologies. Years ago, this challenge was most keenly felt in the 'dot-com' industries, and many professionals fell victim to the 'dark side,' creating values that were simply unsustainable. Now, amidst today's global financial crisis, the same challenge applies to a far wider spectrum of enterprises and assets, ranging from Asian equities to mortgage-backed securities, financial services firms like Lehman to real estate firms like Sears. In The Dark Side of Valuation, the world's top expert on valuation brings together today's best practices for accurately valuing young, distressed, and complex businesses. Aswath Damodaran has thoroughly revised this book, broadening its perspective to consider all companies that resist easy valuation. He covers the entire corporate lifecycle, from 'idea' and 'nascent growth' companies to those in decline and distress; and offers specific guidance for valuing infrastructure, real estate, technology, human capital, commodity, and cyclical firms. Damodaran places special emphasis on the financial sector, illuminating the implications of today's radically changed credit markets for valuation. Along the way, he addresses valuation questions that have suddenly gained urgency, ranging from 'Are US treasuries risk-free?' to 'How do you value assets in highly illiquid markets?'