Sequential growth options and the value of the firm: a real options approach
Sequential growth options and the value of the firm: a real options approach
The purpose of this paper is to value a firm with sequential growth options in two types of uncertainty, 'uncertain cash flow' and 'uncertain investment yield'. The paper shows that such a firm can be valued by the real options approach, given the firm's cash process, investment yield process and investment policy.
University of Southampton
Chang, S-W.
79c07d01-2fd3-4e6a-8811-653029c1da2d
1998
Chang, S-W.
79c07d01-2fd3-4e6a-8811-653029c1da2d
Chang, S-W.
(1998)
Sequential growth options and the value of the firm: a real options approach
(Discussion Papers in Accounting and Management Science, 98-141)
Southampton, UK.
University of Southampton
32pp.
Record type:
Monograph
(Discussion Paper)
Abstract
The purpose of this paper is to value a firm with sequential growth options in two types of uncertainty, 'uncertain cash flow' and 'uncertain investment yield'. The paper shows that such a firm can be valued by the real options approach, given the firm's cash process, investment yield process and investment policy.
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Published date: 1998
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Local EPrints ID: 36141
URI: http://eprints.soton.ac.uk/id/eprint/36141
PURE UUID: 650c6da7-0004-41ef-890b-128d8b211810
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Date deposited: 25 Apr 2007
Last modified: 11 Dec 2021 15:31
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Author:
S-W. Chang
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