教師資料查詢 | 類別: 期刊論文 | 教師: 婁國仁 LOU, KUO-REN (瀏覽個人網頁)

標題:Pricing real abandonment options on severval R&D investment projects
學年96
學期1
出版(發表)日期2007/10/01
作品名稱Pricing real abandonment options on severval R&D investment projects
作品名稱(其他語言)
著者Wu, Ming-cheng; Yen, Simon H.; 婁國仁; Lou, Kuo-ren
單位淡江大學經營決策學系
出版者Springer
著錄名稱、卷期、頁數Soft Computing 11(2), pp.1123-1129
摘要Much previous research has shown that the R&D investments can be evaluated by real growth options approach. But few studies have been done on real abandonment options for R&D projects which may not succeed. The contribution of this paper is not only to derive a more general closed-form solution for evaluating real abandonment options, but to put backup project consideration into our model for reality. We show that both Black-Scholes’s and Stulz’s models are special cases of our model under some specifications of parameters. From the simulation results, we explore that the higher the percentage of recovering salvage value, the more investment projects should be carried out. We hope that the results in this study could provide a useful reference for the manager, to make better decisions regarding backup projects.
關鍵字
語言英文
ISSN1432-7643
期刊性質國外
收錄於
產學合作
通訊作者
審稿制度
國別德國
公開徵稿
出版型式,電子版
相關連結
Google+ 推薦功能,讓全世界都能看到您的推薦!