Real options as an alternative methodology to assess investment projects

被引：2
|
作者：
Tamara Ayus, Armando Lenin [1 ,2 ,3 ]
Aristizabal Velasquez, Raul Enrique [1 ,4 ,5 ,6 ]
机构：
[1] Univ EAFIT, Finanzas, Medellin, Colombia
[2] Univ Norte, Diseno & Evaluac Proyectos, Barranquilla, Colombia
[3] Univ EAFIT, Dept Finanzas, Escuela Econ & Finanzas, Medellin, Colombia
[4] Univ Pontificia Bolivariana, Gerencia Financiera, Medellin, Colombia
[5] Univ EAFIT, Medellin, Colombia
[6] Escuela Ingn Antioquia, Medellin, Colombia
来源：
ECOS DE ECONOMIA | 2012年 / 16卷 / 35期
关键词：
Real Options; Financial Options; Binomial Trees;
D O I：
10.17230/ecos.2012.35.2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper aims to broaden the applicability of the assessment methodology of investment projects through real options as a key element for investment decision making. Traditional project valuation methodologies are described and their gaps, which special characteristic is uncertainty, are presented. A parallel between financial and real options that could be used for valuation is made, using the binomial tree method. Finally, a case study in the construction sector shows a project valuation using expand and waiting options.
引用
收藏
页码：29 / 44
页数：16
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