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Real Options Valuation Of A Power Generation Project
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Download or read book Real R & D Options written by Dean Paxson and published by Elsevier. This book was released on 2002-12-05 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real R&D options are among the earliest modelled real options, with now ten primary practical uses: general R&D planning, planning R&D in stages, evaluating test information, new product development timing, operations, abandonment, risk sharing, market funding, industry strategy and regulation. This book was partly motivated by requests to identify and develop real option models for R&D in telecommunications, petroleum technology and biotechnology. Nine new models cover information and implementation costs, analytical solutions for mean reverting, or fat tailed revenues, endogenous learning and exogenous and experiential shocks, American sequential options, and innovator advantages. Four new applications include forward start development options, exploration options, innovation with information costs, and innovator's real values with changing market share. R&D directors and researchers will find several uses for these models: - general R&D planning - evaluating test information - new product development timing - risk sharing - industry strategy and regulation - A practical guide to how organizations can use Real Option techniques to effectively value research and development by companies - Provides a rigorous theoretical underpinning of the use of Real Option techniques - Real Options applications are orientated around the economies of North America, Europe and Asia, for an international perspective
Book Synopsis Project Valuation Using Real Options by : Prasad Kodukula
Download or read book Project Valuation Using Real Options written by Prasad Kodukula and published by J. Ross Publishing. This book was released on 2006-07-15 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business leaders are frequently faced with investment decisions on new and ongoing projects. The challenge lies in deciding what projects to choose, expand, contract, defer, or abandon, and which method of valuation to use is the key tool in the process. This title presents a step-by-step, practical approach to real options valuation to make it easily understandable by practitioners as well as senior management. This systematic approach to project valuation helps you minimize upfront investment risks, exercise flexibility in decision making, and maximize the returns. Whereas the traditional decision tools such as discounted cash flow/net present value (DCF/NPV) analysis assume a “fixed” path ahead, real options analysis offers more flexible strategies. Considered one of the greatest innovations of modern finance, the real options approach is based on Nobel-prize winning work by three MIT economists, Fischer Black, Robert Merton, and Myron Scholes.
Book Synopsis Real Options Theory by : Jeffrey J. Reuer
Download or read book Real Options Theory written by Jeffrey J. Reuer and published by Emerald Group Publishing. This book was released on 2007-07-05 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the ways in which real options theory can contribute to strategic management. This volume offers conceptual pieces that trace out pathways for the theory to move forward and presents research on the implications of real options for strategic investment, organization, and firm performance.
Download or read book Real Options written by Sydney Howell and published by Financial Times/Prentice Hall. This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Will provide the reader with a comprehensive understanding of the concepts behind real option analysis and how to use them. It demystifies the scientific aura surrounding the subject, giving the reader the understanding necessary to direct or apply real option analysis in any organizational setting.
Book Synopsis Real Options Analysis by : Johnathan Mun
Download or read book Real Options Analysis written by Johnathan Mun and published by John Wiley & Sons. This book was released on 2012-07-02 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Mun demystifies real options analysis and delivers a powerful, pragmatic guide for decision-makers and practitioners alike. Finally, there is a book that equips professionals to easily recognize, value, and seize real options in the world around them." --Jim Schreckengast, Senior VP, R&D Strategy, Gemplus International SA, France Completely revised and updated to meet the challenges of today's dynamic business environment, Real Options Analysis, Second Edition offers you a fresh look at evaluating capital investment strategies by taking the strategic decision-making process into consideration. This comprehensive guide provides both a qualitative and quantitative description of real options; the methods used in solving real options; why and when they are used; and the applicability of these methods in decision making.
Book Synopsis A Real Options Approach to Renewable and Nuclear Energy Investments in the Philippine by : Casper Boongaling Agaton
Download or read book A Real Options Approach to Renewable and Nuclear Energy Investments in the Philippine written by Casper Boongaling Agaton and published by Logos Verlag Berlin GmbH. This book was released on 2019-07-10 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the application of real options approach (ROA) to analyze investment decisions for switching energy sources from fossil fuels to alternative energy. Using the Philippines as a case, the ROA models presented here explore how uncertainties including fossil fuel prices, electricity prices, discount rates, externality, renewable energy (RE) costs, and RE investment growth affect investment decisions that focus on developing countries, particularly to fossil-importing countries. The book is a collection of academic papers published in peer-reviewed journals. The first paper analyzes investments in various RE sources including wind, solar, hydropower, and geothermal over using coal. The second paper compares investments between RE and nuclear energy considering the risk of nuclear accident. The third paper applies the proposed ROA model with the case of Palawan island and analyzes investment in RE over diesel fuel for electricity generation. The fourth paper focuses on investment drivers that make RE sources as a better option than using fossil fuels.
Book Synopsis Investment in Electricity Generation and Transmission by : Antonio J. Conejo
Download or read book Investment in Electricity Generation and Transmission written by Antonio J. Conejo and published by Springer. This book was released on 2016-06-10 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of investment problems pertaining to electric energy infrastructure, including both generation and transmission facilities. The analysis encompasses decision-making tools for expansion planning, reinforcement, and the selection and timing of investment options. In this regard, the book provides an up-to-date description of analytical tools to address challenging investment questions such as: How can we expand and/or reinforce our aging electricity transmission infrastructure? How can we expand the transmission network of a given region to integrate significant amounts of renewable generation? How can we expand generation facilities to achieve a low-carbon electricity production system? How can we expand the generation system while ensuring appropriate levels of flexibility to accommodate both demand-related and production-related uncertainties? How can we choose among alternative production facilities? What is the right time to invest in a given production or transmission facility? Written in a tutorial style and modular format, the book includes a wealth of illustrative examples to facilitate comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, operations research, management science, and economics. Practitioners in the electric energy sector will also benefit from the concepts and techniques presented here.
Book Synopsis Investment under Uncertainty by : Robert K. Dixit
Download or read book Investment under Uncertainty written by Robert K. Dixit and published by Princeton University Press. This book was released on 2012-07-14 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Download or read book Real Options written by Lenos Trigeorgis and published by MIT Press. This book was released on 1996-03-14 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach (based on the pricing of options) that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. In the 1970s and the 1980s, developments in the valuation of capital-investment opportunities based on options pricing revolutionized capital budgeting. Managerial flexibility to adapt and revise future decisions in order to capitalize on favorable future opportunities or to limit losses has proven vital to long-term corporate success in an uncertain and changing marketplace. In this book Lenos Trigeorgis, who has helped shape the field of real options, brings together a wealth of previously scattered knowledge and research on the new flexibility in corporate resource allocation and in the evaluation of investment alternatives brought about by the shift from static cash-flow approaches to the more dynamic paradigm of real options—an approach that incorporates decisions on whether to defer, expand, contract, abandon, switch use, or otherwise alter a capital investment. Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach (based on the pricing of options) that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. Also discussed are the strategic value of new technology, project interdependence, and competitive interaction. The ability to value real options has so dramatically altered the way in which corporate resources are allocated that future textbooks on capital budgeting will bear little resemblance to those of even the recent past. Real Options is a pioneer in this area, coupling a coherent picture of how option theory is used with practical insights in into real-world applications.
Book Synopsis Modern Asset Pricing and Project Evaluation in the Energy Industry by : David G. (David Graham) Laughton
Download or read book Modern Asset Pricing and Project Evaluation in the Energy Industry written by David G. (David Graham) Laughton and published by . This book was released on 2000 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Power Generation Investment in Electricity Markets by : International Energy Agency
Download or read book Power Generation Investment in Electricity Markets written by International Energy Agency and published by International Energy Agency. This book was released on 2003 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: On cover and title page: Energy market reform.
Book Synopsis Real Options and Energy Management by : Ehud I. Ronn
Download or read book Real Options and Energy Management written by Ehud I. Ronn and published by . This book was released on 2002 with total page 752 pages. Available in PDF, EPUB and Kindle. Book excerpt: A multi-author title that focuses on both the fundamentals of real options, and the practical approaches for their application in the energy industry
Book Synopsis Transition Towards 100% Renewable Energy by : Ali Sayigh
Download or read book Transition Towards 100% Renewable Energy written by Ali Sayigh and published by Springer. This book was released on 2018-01-29 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains selected papers presented during technical and plenary sessions at the World Renewable Energy Congress, the world’s premier conference on renewable energy and sustainable development. All papers were rigorously peer reviewed.The Congress, held at Murdoch University in Perth, Western Australia from February 5 -9, 2017, with the theme of “Transition Towards 100% Renewable Energy”, featured keynote speakers and parallel technical sessions highlighting technical, policy, and investment progress towards achieving 100% renewable energy ranging in scale from households to cities to large regions, with a focus on the challenges and opportunities transforming the global energy systems. The book highlights contributions from thought leaders involved in the supply, distribution, consumption, and development of sustainable energy sources.
Book Synopsis Valuation Approaches and Metrics by : Aswath Damodaran
Download or read book Valuation Approaches and Metrics written by Aswath Damodaran and published by Now Publishers Inc. This book was released on 2005 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.
Download or read book The Economics of Wind Energy written by and published by EWEA. This book was released on 2009 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Electricity from Renewable Resources by : National Research Council
Download or read book Electricity from Renewable Resources written by National Research Council and published by National Academies Press. This book was released on 2010-04-05 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A component in the America's Energy Future study, Electricity from Renewable Resources examines the technical potential for electric power generation with alternative sources such as wind, solar-photovoltaic, geothermal, solar-thermal, hydroelectric, and other renewable sources. The book focuses on those renewable sources that show the most promise for initial commercial deployment within 10 years and will lead to a substantial impact on the U.S. energy system. A quantitative characterization of technologies, this book lays out expectations of costs, performance, and impacts, as well as barriers and research and development needs. In addition to a principal focus on renewable energy technologies for power generation, the book addresses the challenges of incorporating such technologies into the power grid, as well as potential improvements in the national electricity grid that could enable better and more extensive utilization of wind, solar-thermal, solar photovoltaics, and other renewable technologies.
Download or read book Power Plants written by Stan Kaplan and published by DIANE Publishing. This book was released on 2011 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. Analyzes the factors that determine the cost of electricity from new power plants. These factors -- including construction costs, fuel expense, environ. regulations, and financing costs -- can all be affected by government, energy, environmental, and economic policies. Contents: (1) Intro. and Org.; (2) Types of Generating Technologies: Electricity Demand and Power Plant Choice and Operation; Utility Scale Generating Technologies; (3) Factors that Drive Power Plant Costs; (4) Fuel Costs. Appendixes: Power Generation Technology Process Diagrams and Images; Estimates of Power Plant Overnight Costs; Estimates of Technology Costs and Efficiency with Carbon Capture; Financial and Operating Assumptions. Charts and tables.
