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

页码：29 / 44

页数：16

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