English  |  正體中文  |  简体中文  |  全文笔数/总笔数 : 49942/85109 (59%)
造访人次 : 7787172      在线人数 : 48
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
搜寻范围 查询小技巧:
  • 您可在西文检索词汇前后加上"双引号",以获取较精准的检索结果
  • 若欲以作者姓名搜寻,建议至进阶搜寻限定作者字段,可获得较完整数据
  • 进阶搜寻

    jsp.display-item.identifier=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/987654321/95231

    题名: Sequential Venture Capital Investment as Real Options
    作者: 林蒼祥;李正福
    贡献者: 淡江大學財務金融學系
    关键词: 實質選擇權;創業投資;利率;波動性;Real Option;Venture Capital;Interest Rate;Volatility
    日期: 2001-06
    上传时间: 2014-02-11 23:56:11 (UTC+8)
    摘要: We develop a multivariate real call option model to the valuation ofthe multi-stage venture capital project. The main feature of our realoption model is that the underlying venture capital project is anon-traded asset. We derive a dividend-like yield, δ, in response tothe nature of the non-traded asset with Intertemporal Capital AssetPricing Model of Merton (1973). The computation of the critical firm'svalues and the multidimensional normal integrals is a big challenge,being done with the Brent algorithm and the improved Gauss Quadraturemethod of Drezner (1992), respectively. The calculated results showthat the net effect of the volatility and the interest rate on thereal call option is not necessarily positive.
    關聯: 2001年財務金融學術暨實務研討會論文集=Proceedings of the Annual Research Conference in Finance and Financial Market in the 21st Century,頁N.A.(CD)
    显示于类别:[財務金融學系暨研究所] 會議論文


    档案 大小格式浏览次数



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