English  |  正體中文  |  简体中文  |  Items with full text/Total items : 49590/84835 (58%)
Visitors : 7686141      Online Users : 54
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/50405


    Title: Pricing real abandonment options on severval R&D investment projects
    Authors: Wu, Ming-cheng;Yen, Simon H.;婁國仁;Lou, Kuo-ren
    Contributors: 淡江大學經營決策學系
    Keywords: Real abandonment options;Research and development;Managerial flexibility;Capital budgeting
    Date: 2007-10-01
    Issue Date: 2010-08-09 17:00:41 (UTC+8)
    Publisher: Springer
    Abstract: 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.
    Relation: Soft Computing 11(2), pp.1123-1129
    DOI: 10.1007/s00500-007-0162-2
    Appears in Collections:[管理科學學系暨研究所] 期刊論文

    Files in This Item:

    File SizeFormat
    1432-7643_11(2)p1123-1129.pdf250KbAdobe PDF224View/Open

    All items in 機構典藏 are protected by copyright, with all rights reserved.


    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback