關鍵字查詢 | 類別:期刊論文 | | 關鍵字:The Effects of Financing Policy on Investment Strategy under Price Uncertainty

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序號 學年期 教師動態
1 99/1 管科系 張紘炬 教授 期刊論文 發佈 The Effects of Financing Policy on Investment Strategy under Price Uncertainty , [99-1] :The Effects of Financing Policy on Investment Strategy under Price Uncertainty期刊論文The Effects of Financing Policy on Investment Strategy under Price UncertaintyChen, po-yuan; Chang, Horng-jinh淡江大學經營決策學系Financing policy; Price uncertainty; Investment threshold; Real optionMahe: EuroJournalsInternational Research Journal of Finance and Economics 59, pp.23-34This work attempts to present a model for the optimal investment threshold and the real option value under the price dynamics. We adopt the debt ratio as a measure of the financing policy, determining the weights for funding by debt and by equity. We consider the weight (debt ratio) as an exogenous variable, based on which the threshold and the real option value are obtained by the optimization of an investment opportunity with respect to optimal timing. Sensitivity analyses are then performed to investigate the effects of parameters such as price uncertainty, cost and tax rates, funding rates, market share, and demand elasticity unde
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