The Promises And Perils Of Real Options Valuation Technique

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The Valuation Handbook, (Custom Chapter 14)

Author : Rawley Thomas
Publisher : John Wiley & Sons
ISBN 13 : 0470539976
Total Pages : 842 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis The Valuation Handbook, (Custom Chapter 14) by : Rawley Thomas

Download or read book The Valuation Handbook, (Custom Chapter 14) written by Rawley Thomas and published by John Wiley & Sons. This book was released on 2009-10-01 with total page 842 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive guide to valuation written by a who's who of today's top practitioners The Valuation Handbook differs significantly from other related books on this topic because the contributors are practitioners, academics, and investment firms that explain how they value companies and other assets. It concentrates on specific and innovative valuation techniques, rather than the theoretical approaches more generally accepted and discussed. Given the extreme volatility of the stock market, valuation is a critical issue for analysts, investors, and businesses. Here, various professional contributors explain how their firms approach the valuation process, while academic contributors share their valuation consulting and research experience. Examines how to value assets in today's dynamic market setting Offers a broad spectrum of ideas from some of the top practitioners and academics in this field Highlights state-of-the-art approaches to company valuation Filled with in-depth insights and expert advice, The Valuation Handbook puts this difficult discipline in perspective.

Real Option Valuation of Product Innovation

Author : Yuanyun Kang
Publisher : diplom.de
ISBN 13 : 3836624710
Total Pages : 90 pages
Book Rating : 4.8/5 (366 download)

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Book Synopsis Real Option Valuation of Product Innovation by : Yuanyun Kang

Download or read book Real Option Valuation of Product Innovation written by Yuanyun Kang and published by diplom.de. This book was released on 2009-01-12 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: Global competition, emerging technologies, and an ever increasing need for superior products in shorter time frames all contribute to drive companies to adopt new and innovative approaches to product innovation. Effective product innovation is imperative for the survival, growth and profitability of most design and manufacturing enterprises. In the current dynamic manufacturing environment, companies must innovate successfully if they wish to remain competitive. Product innovation is a complex, cross-functional and contingent, dynamic process, which is difficult to manage. Anticipating change and expeditiously responding to the dynamics of the business environment via product innovation are important precursors for achieving sustainable competitive positions and exceptional performance. The heart of a product innovation is its value. Traditional discounted cash flow approaches, such as net present value (NPV), have traditionally been the preferred methods for evaluating investments in product innovation. The traditional NPV method, which was initially developed to value bonds or stocks by passive investors, implicitly assumes that corporations hold a collection of real assets passively. Managerial choices (as delay, expand, switching etc.) are thus presumed to be limited to the initial decision. Therefore, traditional valuation methods undervalue the product innovation because they are unable to capture the value of management flexibility. Recently, real options emerged as an alternative to simplistic discounted cash flow methods. Real option valuation (ROV) values the managerial flexibility to make ongoing decisions regarding implementation of investment projects and deployment of real assets. ROV extends valuation models used to price financial options and applies them to investments in real assets. Black and Scholes developed the Black-Scholes model to value financial options that focus on factors affecting the value of the underlying financial asset over time. Proof by Cox, Ross, Rubinstein (1979), binomial tree model is simpler to understand for the practitioner and less elegant than Black-Scholes model. It uses the discrete mathematics to achieve the isomorphic results to the calculation used by Black-Scholes model. From an intuition point of view, the managerial flexibility is easy to understand. But, how much it is worth is most difficult or even impossible to think about and measure with the traditional [...]

The Art of Capital Restructuring

Author : H. Kent Baker
Publisher : John Wiley & Sons
ISBN 13 : 1118030354
Total Pages : 612 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis The Art of Capital Restructuring by : H. Kent Baker

Download or read book The Art of Capital Restructuring written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2011-07-28 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most up-to-date guide on making the right capital restructuring moves The Art of Capital Restructuring provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring around the world. The dynamic nature of M&As requires an evolving understanding of the field, and this book considers several different forms of physical restructuring such as divestitures as well as financial restructuring, which refers to alterations in the capital structure of the firm. The Art of Capital Restructuring not only explains the financial aspects of these transactions but also examines legal, regulatory, tax, ethical, social, and behavioral considerations. In addition to this timely information, coverage also includes discussion of basic concepts, motives, strategies, and techniques as well as their application to increasingly complex, real-world situations. Emphasizes best practices that lead to M&A success Contains important and relevant research studies based on recent developments in the field Comprised of contributed chapters from both experienced professionals and academics, offering a variety of perspectives and a rich interplay of ideas Skillfully blending theory with practice, this book will put you in a better position to make the right decisions with regard to capital restructuring in today's dynamic business world.

Proceedings of the XIII International Symposium SymOrg 2012: Innovative Management and Business Performance

Author :
Publisher : University of Belgrade, Faculty of Organizational Sciences
ISBN 13 : 8676802556
Total Pages : 2004 pages
Book Rating : 4.6/5 (768 download)

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Book Synopsis Proceedings of the XIII International Symposium SymOrg 2012: Innovative Management and Business Performance by :

Download or read book Proceedings of the XIII International Symposium SymOrg 2012: Innovative Management and Business Performance written by and published by University of Belgrade, Faculty of Organizational Sciences . This book was released on 2012-06-03 with total page 2004 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Valuation Methods and Shareholder Value Creation

Author : Pablo Fernandez
Publisher : Academic Press
ISBN 13 : 0122538412
Total Pages : 662 pages
Book Rating : 4.1/5 (225 download)

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Book Synopsis Valuation Methods and Shareholder Value Creation by : Pablo Fernandez

Download or read book Valuation Methods and Shareholder Value Creation written by Pablo Fernandez and published by Academic Press. This book was released on 2002-08-30 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides a catalogue of valuation tools, together with guidance on analyzing and valuing a business. The author breaks down the topic to provide advice for any business, no matter how complex. He presents eight different methods of firm valuation and discusses the benefits and limitations of each method, supporting this information with examples from international markets.

The Handbook of Maritime Economics and Business

Author : Costas Grammenos
Publisher : Taylor & Francis
ISBN 13 : 1135134065
Total Pages : 1093 pages
Book Rating : 4.1/5 (351 download)

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Book Synopsis The Handbook of Maritime Economics and Business by : Costas Grammenos

Download or read book The Handbook of Maritime Economics and Business written by Costas Grammenos and published by Taylor & Francis. This book was released on 2013-07-04 with total page 1093 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the founding title in the Grammenos Library. The diversity of the subjects covered is unique and the results of research developed over many years are not only comprehensive, but also have important implications on real life issues in maritime business. The new edition covers a vast number of topics, including: • Shipping Economics and Maritime Nexus • International Seaborne Trade • Economics of Shipping Market and Shipping Cycles • Economics of Shipping Sectors • Issues in Liner Shipping • Economics of Maritime Safety and Seafaring Labour Market • National and International Shipping Policies • Aspects of Shipping Management and Operations• Shipping Investment and Finance • Port Economics and Management • Aspects of International Logistics

Risk Management for the Future

Author : Jan Emblemsvåg
Publisher : BoD – Books on Demand
ISBN 13 : 953510571X
Total Pages : 514 pages
Book Rating : 4.5/5 (351 download)

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Book Synopsis Risk Management for the Future by : Jan Emblemsvåg

Download or read book Risk Management for the Future written by Jan Emblemsvåg and published by BoD – Books on Demand. This book was released on 2012-04-25 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large part of academic literature, business literature as well as practices in real life are resting on the assumption that uncertainty and risk does not exist. We all know that this is not true, yet, a whole variety of methods, tools and practices are not attuned to the fact that the future is uncertain and that risks are all around us. However, despite risk management entering the agenda some decades ago, it has introduced risks on its own as illustrated by the financial crisis. Here is a book that goes beyond risk management as it is today and tries to discuss what needs to be improved further. The book also offers some cases.

Visualising Intangibles: Measuring and Reporting in the Knowledge Economy

Author : Stefano Zambon
Publisher : Routledge
ISBN 13 : 131700115X
Total Pages : 283 pages
Book Rating : 4.3/5 (17 download)

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Book Synopsis Visualising Intangibles: Measuring and Reporting in the Knowledge Economy by : Stefano Zambon

Download or read book Visualising Intangibles: Measuring and Reporting in the Knowledge Economy written by Stefano Zambon and published by Routledge. This book was released on 2016-02-11 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the now widely recognized importance of intangible assets and intellectual capital, they still appear to be poorly understood by both academics and practitioners. Indeed, the necessity for adopting a fresh approach to their reporting, measurement and management is today generally clear and accepted. This book gives room to new perspectives which broaden the scope and depth of the investigation, whilst also opening up innovative methods and opportunities for practice.

Energy Finance and Economics

Author : Betty Simkins
Publisher : John Wiley & Sons
ISBN 13 : 1118235983
Total Pages : 628 pages
Book Rating : 4.1/5 (182 download)

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Book Synopsis Energy Finance and Economics by : Betty Simkins

Download or read book Energy Finance and Economics written by Betty Simkins and published by John Wiley & Sons. This book was released on 2013-02-20 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thought leaders and experts offer the most current information and insights into energy finance Energy Finance and Economics offers the most up-to-date information and compelling insights into the finance and economics of energy. With contributions from today's thought leaders who are experts in various areas of energy finance and economics, the book provides an overview of the energy industry and addresses issues concerning energy finance and economics. The book focuses on a range of topics including corporate finance relevant to the oil and gas industry as well as addressing issues of unconventional, renewable, and alternative energy. A timely compendium of information and insights centering on topics related to energy finance Written by Betty and Russell Simkins, two experts on the topic of the economics of energy Covers special issues related to energy finance such as hybrid cars, energy hedging, and other timely topics In one handy resource, the editors have collected the best-thinking on energy finance.

Financial Derivatives

Author : Rob Quail
Publisher : John Wiley & Sons
ISBN 13 : 0470499109
Total Pages : 624 pages
Book Rating : 4.4/5 (74 download)

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Book Synopsis Financial Derivatives by : Rob Quail

Download or read book Financial Derivatives written by Rob Quail and published by John Wiley & Sons. This book was released on 2009-11-02 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential insights on the various aspects of financial derivatives If you want to understand derivatives without getting bogged down by the mathematics surrounding their pricing and valuation, Financial Derivatives is the book for you. Through in-depth insights gleaned from years of financial experience, Robert Kolb and James Overdahl clearly explain what derivatives are and how you can prudently use them within the context of your underlying business activities. Financial Derivatives introduces you to the wide range of markets for financial derivatives. This invaluable guide offers a broad overview of the different types of derivatives-futures, options, swaps, and structured products-while focusing on the principles that determine market prices. This comprehensive resource also provides a thorough introduction to financial derivatives and their importance to risk management in a corporate setting. Filled with helpful tables and charts, Financial Derivatives offers a wealth of knowledge on futures, options, swaps, financial engineering, and structured products. Discusses what derivatives are and how you can prudently implement them within the context of your underlying business activities Provides thorough coverage of financial derivatives and their role in risk management Explores financial derivatives without getting bogged down by the mathematics surrounding their pricing and valuation This informative guide will help you unlock the incredible potential of financial derivatives.

Infrastructure Investment

Author : David G. Carmichael
Publisher : CRC Press
ISBN 13 : 1466576707
Total Pages : 256 pages
Book Rating : 4.4/5 (665 download)

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Book Synopsis Infrastructure Investment by : David G. Carmichael

Download or read book Infrastructure Investment written by David G. Carmichael and published by CRC Press. This book was released on 2014-10-29 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Established Deterministic Investment Appraisal versus Uncertainty in Investment. When it comes to investing in an infrastructure project, the conventional approach is to evaluate risk through a deterministic approach. Infrastructure Investment: An Engineering Perspective, however, takes on uncertainty in investment. Of interest to engineering consultants, government departments, financial institutions, or anyone involved in investment in infrastructure, this text provides the necessary tools for the analysis and appraisal of investment in infrastructure and other assets with uncertain futures. It factors in the finance and engineering of assets such as roads, buildings, bridges, dams, pipelines, railways, ports, seawalls, wastewater treatment facilities, and addresses future demand, operating costs, maintenance costs, and other lifetime and investment parameters in both financial and non-financial terms. It considers the impact of climate change and the possible use of adaptive and flexible solutions capable of responding to changed futures, as well as how such uncertainty affects the future performance of these investments. The book also incorporates illustrated case studies and Markov chains to model an investment. A pivotal work containing 11 chapters, this text provides: An original contribution to feasibility analysis under uncertainty; A systematic and ordered treatment of capital investment in infrastructure; A structured flow, from a systematic treatment of conventional deterministic approaches through to a complete treatment incorporating uncertainty.Infrastructure Investment: An Engineering Perspective details investment analysis in the presence of uncertainty, and is beneficial to students, academics, and practitioners dealing with decision.

Musings on Markets: Articles from 2008-2014

Author : Martin Kilarski
Publisher : Martin Kilarski
ISBN 13 :
Total Pages : 955 pages
Book Rating : 4./5 ( download)

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Book Synopsis Musings on Markets: Articles from 2008-2014 by : Martin Kilarski

Download or read book Musings on Markets: Articles from 2008-2014 written by Martin Kilarski and published by Martin Kilarski. This book was released on 2024-08-31 with total page 955 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the ever-evolving world of finance, clarity and insight are precious commodities. Enter Professor Aswath Damodaran, the mind behind the influential blog "Musings on Markets." This unassuming corner of the internet, launched in 2008, serves as a platform for his insightful commentary on current financial events, valuation methodologies, and emerging trends. Damodaran's ability to break down complex financial concepts into digestible terms has made him a beloved figure among investors and students. Professor Damodaran, or "Aswath" as he's affectionately known to his readers, isn't your typical Wall Street guru. His writing is refreshingly devoid of jargon, laced with wit, and grounded in a passion for demystifying complex financial concepts. Think of "Musings on Markets" as your friendly neighborhood professor, patiently explaining the intricate workings of financial markets through clear explanations, insightful analyses, and a healthy dose of real-world examples. Aswath Damodaran is a distinguished professor of finance at the Stern School of Business, New York University. Renowned for his groundbreaking work in corporate finance and valuation, Damodaran has been instrumental in shaping the field's methodologies and applications. Born in India, Damodaran pursued his academic journey in the United States, earning his Ph.D. in finance from the University of Michigan. His early career was marked by a deep dive into the intricacies of capital markets and corporate valuation, a fascination that has remained a constant throughout his illustrious career. Damodaran's academic prowess is evident in his extensive publications. He is the author of several highly acclaimed textbooks, including "Investment Valuation," "Corporate Finance: Theory and Practice," and "Applied Corporate Finance: A User's Guide." These books are considered essential reading for students, practitioners, and academics alike, providing invaluable insights into the theory and practice of finance. His contributions to the field of finance have not gone unnoticed. Damodaran has been recognized with numerous awards and honors, including the Graham and Dodd Award from the Financial Analysts Journal and the Distinguished Scholar Award from the Academy of Financial Management. Aswath Damodaran's legacy extends far beyond his academic achievements. His dedication to teaching, research, and public outreach has inspired countless individuals to pursue careers in finance and has significantly advanced the field of corporate valuation.

Introduction to Civil Engineering Systems

Author : Samuel Labi
Publisher : John Wiley & Sons
ISBN 13 : 1118415302
Total Pages : 1060 pages
Book Rating : 4.1/5 (184 download)

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Book Synopsis Introduction to Civil Engineering Systems by : Samuel Labi

Download or read book Introduction to Civil Engineering Systems written by Samuel Labi and published by John Wiley & Sons. This book was released on 2014-03-25 with total page 1060 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an integrated systems approach to the evaluation, analysis, design, and maintenance of civil engineering systems. Addressing recent concerns about the world's aging civil infrastructure and its environmental impact, the author makes the case for why any civil infrastructure should be seen as part of a larger whole. He walks readers through all phases of a civil project, from feasibility assessment to construction to operations, explaining how to evaluate tasks and challenges at each phase using a holistic approach. Unique coverage of ethics, legal issues, and management is also included.

Debtor (Non-)Participation in Sovereign Debt Relief: A Real Option Approach

Author : Danny Cassimon
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Debtor (Non-)Participation in Sovereign Debt Relief: A Real Option Approach by : Danny Cassimon

Download or read book Debtor (Non-)Participation in Sovereign Debt Relief: A Real Option Approach written by Danny Cassimon and published by International Monetary Fund. This book was released on 2023-09-08 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries have recently proved reluctant to participate in sovereign debt moratoria and debt relief initiatives. We argue that debtors' (non-)participation decisions can be understood through the lens of real options. Eligible countries compare the net benefits of participating in a debt relief initiative now with the value of waiting to potentially execute their participation option later, when they may have more information on the benefits and costs. We corroborate the real option framing with anecdotal evidence and through a survival analysis that exploits cross-country and time variation in the requests to participate in the Debt Service Suspension Initiative (DSSI), which provided temporary debt moratoria during the COVID-19 pandemic. Structured along the policy levers suggested by the real option framework, we discuss a number of ways in which participation in debt relief initiatives can be made more attractive to debtor countries.

Evaluating Alternative Operations Strategies to Improve Travel Time Reliability

Author : National Academies of Sciences, Engineering, and Medicine (U.S.)
Publisher : Transportation Research Board
ISBN 13 : 0309273706
Total Pages : 378 pages
Book Rating : 4.3/5 (92 download)

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Book Synopsis Evaluating Alternative Operations Strategies to Improve Travel Time Reliability by : National Academies of Sciences, Engineering, and Medicine (U.S.)

Download or read book Evaluating Alternative Operations Strategies to Improve Travel Time Reliability written by National Academies of Sciences, Engineering, and Medicine (U.S.) and published by Transportation Research Board. This book was released on 2022-03-29 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report from the second Strategic Highway Research Program (SHRP 2), which is administered by the Transportation Research Board of the National Academies, sets out requirements for travel time reliability within a performance-based planning process. The research includes an effort to determine the economic value of improvements in travel time reliability by applying options theory from the financial sector. The report includes two succinct tables that describe requirements for person and freight trips for reliable transport, as well as a forecast of the year 2030 under alternative assumptions that may influence travel time reliability.

Valuation of Companies in Emerging Markets

Author : Luis E. Pereiro
Publisher : John Wiley & Sons
ISBN 13 : 0471426741
Total Pages : 529 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis Valuation of Companies in Emerging Markets by : Luis E. Pereiro

Download or read book Valuation of Companies in Emerging Markets written by Luis E. Pereiro and published by John Wiley & Sons. This book was released on 2002-11-12 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide focusing on the valuation issues for emerging markets Valuation of Companies in Emerging Economies takes a practical, step-by-step approach to valuing both public and closely held companies in emerging economies for merger or acquisition purposes. These extremely volatile markets present their own special set of challenges, which often differ from country to country. The author provides real world, best valuation practices in both developed and emerging markets and offers links to relevant Internet resources to provide CEOs, CFOs, venture capitalists, and financial analysts with the information they need to accurately value companies around the world. Luis E. Pereiro (Buenos Aires, Argentina) is a consultant who has steered several strategic change projects in multinational corporations such as Bank of America, Union Carbide, and Nissho Iwai. He is Interim Dean of the Universidad Tocuato Di Tella, Buenos Aires, as well as Director of its MBA program and Director of the Center for Entrepreneurship and Business Venturing. His numerous articles have appeared in many prestigious business journals and books. Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management, asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

MicroFinTech

Author : Roberto Moro-Visconti
Publisher : Springer Nature
ISBN 13 : 3030803945
Total Pages : 281 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis MicroFinTech by : Roberto Moro-Visconti

Download or read book MicroFinTech written by Roberto Moro-Visconti and published by Springer Nature. This book was released on 2021-09-06 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microfinance is a renowned albeit controversial solution for giving financial access to the unbanked, even if micro-transactions increase costs, limiting outreach potential. The economic and financial sustainability of Microfinance Institutions (MFIs) is a prerequisite for widening a potentially unlimited client base. Automation decreases costs, expanding the outreach potential, and improving transparency and efficiency. Technological solutions range from branchless mobile banking to geo-localization of customers, digital/social networking for group lending, blockchain validation, big data, and artificial intelligence, up to “MicroFinTech” - FinTech applications adapted to microfinance. Of interest to both scholars, students, and professors of financial technology and microfinance, this book examines these trendy solutions comprehensively, going beyond the existing literature and showing potential applications to the traditional sustainability versus outreach trade-off.