English  |  正體中文  |  简体中文  |  全文筆數/總筆數 : 55542/89862 (62%)
造訪人次 : 11013842      線上人數 : 36
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
搜尋範圍 查詢小技巧:
  • 您可在西文檢索詞彙前後加上"雙引號",以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋,建議至進階搜尋限定作者欄位,可獲得較完整資料
  • 進階搜尋
    請使用永久網址來引用或連結此文件: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/91976

    題名: A fuzzy real option approach for investment project valuation
    作者: Ho, Shiu-Hwei;Liao, Shu-hsien
    貢獻者: 淡江大學管理科學學系
    關鍵詞: Project valuation;Real options;Fuzzy numbers;Flexibility;Uncertainty
    日期: 2011-11
    上傳時間: 2013-08-12 13:20:37 (UTC+8)
    出版者: Kidlington: Pergamon
    摘要: The main purpose of this paper is to propose a fuzzy approach for investment project valuation in uncertain environments from the aspect of real options. The traditional approaches to project valuation are based on discounted cash flows (DCF) analysis which provides measures like net present value (NPV) and internal rate of return (IRR). However, DCF-based approaches exhibit two major pitfalls. One is that DCF parameters such as cash flows cannot be estimated precisely in the uncertain decision making environments. The other one is that the values of managerial flexibilities in investment projects cannot be exactly revealed through DCF analysis. Both of them would entail improper results on strategic investment projects valuation. Therefore, this paper proposes a fuzzy binomial approach that can be used in project valuation under uncertainty. The proposed approach also reveals the value of flexibilities embedded in the project. Furthermore, this paper provides a method to compute the mean value of a project’s fuzzy expanded NPV that represents the entire value of project. Finally, we use the approach to practically evaluate a project.
    關聯: Expert Systems with Applications 38(12), pp.15296–15302
    DOI: 10.1016/j.eswa.2011.06.010
    顯示於類別:[管理科學學系暨研究所] 期刊論文


    檔案 描述 大小格式瀏覽次數
    A fuzzy real option approach for investment project valuation.pdf540KbAdobe PDF1803檢視/開啟



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