.png){kind=icon}
返回
Real R&D options
.png){kind=icon}
PRE
AI
DOI：10.1111/j.1460-8545.2004.00099.x.png)
.png){kind=icon}
原文求助.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
Real options have been growing in popularity in recent years, and this has been accompanied by improvements in their modelling and valuation. Real options enable companies or managers to value projects more accurately by incorporating managerial flexibilities into the valuation model. This is in contrast to traditional discounted cash flow valuation, where projects are assumed to proceed as planned, regardless of future events. One area where real option techniques have been used extensively is in R&D. This paper gives a review of the research on real R&D options, starting with the fundamentals, then detailing more innovative and up-to-date models as well as discussing the difficulties of applying these models, particularly with reference to parameter estimation. It also attempts to provide a 'best practice' for practitioners wishing to value R&D projects using real options.
Keyword:
EQUILIBRIUM INVESTMENT STRATEGIES
STOCHASTIC VOLATILITY
VALUATION
UNCERTAINTY
PRICE
AMERICAN
BEHAVIOR
PROJECTS
MODEL
AI总结
对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。
期刊
IF:
10.8
论文数:
588
被引数:
7.2K
机构
暂无机构信息
引用论文
Optimal exploration investments under price and geological-technical uncertainty: a real options model.png)
management
managementIF5.7
PREAI
分享收藏
查看更多内容