- Paperback: 76 pages
- Publisher: LAP LAMBERT Academic Publishing (15 Feb 2011)
- Language English
- ISBN-10: 3844310037
- ISBN-13: 978-3844310030
- Product Dimensions: 15.2 x 22.9 x 0.5 cm
- Amazon Bestsellers Rank: 3,860,100 in Books (See Top 100 in Books)
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Product Description
Product Description
This monograph attempts to present an in-depth analysis about the obstacles involved with the implementation of Real Options valuation technique, for making investment decisions under uncertain business environment. The model traces back its origin from the famed Black&Scholes (1973) model for option valuation, for financial assets. However recently a lot of academicians have made several attempts to use the same model, for valuing options which are inherently embedded within projects that firms undertake, thereby allowing firms (managers) to make informed investment decisions, by capturing the value of new information and managerial flexibility, during the various stages of the project. However it needs to be examined carefully, that the Black&Scholes model for option volatility, is based on certain assumptions, which if violated cannot correctly price the value of a european call option. This monograph by using a case study method attempts to demonstrate the problems associated with the implementation of Real Options valuation technique, for valuing R&D projects in Pharmaceutical industry.
About the Author
I have completed my MSc. program in Strategic Project Management (European). My research interests are in the areas of financial economics specifically on Efficient Market Hypothesis, and capital budgeting for making investment decisions under uncertain business environment, by capturing the value of new information, and managerial flexibility.
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