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Real Options Analysis. An application to the Steel Industry: The Application of Real Option Thinking - Couverture souple
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Présentation de l'éditeur :
Over the years, the DCF approach has been the valuation choice of many practioners, academics and corporate finance managers. Such valuation techniques include the NPV, IRR and Payback. The former is widely employed due to its intuition and easy computation. Under this approach a project’s worthiness is derived from its projected cashflows discounted at the appropriate discount rate (normally the WACC). Projects with positive NPVs are accepted whilst those with negative NPVs are rejected. However, this technique does not tell us what to do next after accepting or rejecting a project. Furthermore the choice of the discount rate is conceptually flawed. What is the most appropriate discount rate for each project? These shortcomings of DCF models are addressed by the Real Option Valuation. This research employed the BOPM to value a steel plant. Two embedded options were identified namely the abandonment and expansion options. The research concluded that apart from DCF valuation techniques being currently employed by the firm they can as well incorporate Real Options Analysis to decision making. Such actions if accurately valued and timely executed do add firm value.
Biographie de l'auteur :
Tafirei Mashamba is a lecturer at Great Zimbabwe University in the Department of Banking & Finance.He holds an Msc degree in Finance & Investments (NUST)and a BCom degree in Banking & Finance (GZU).He is an affiliate member of the Institute of Bankers Zimbabwe (IOBZ).His areas of interest are Real Options Analysis & Valuation and Corporate Finance.
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- ÉditeurLAP LAMBERT Academic Publishing
- Date d'édition2013
- ISBN 10 3659300233
- ISBN 13 9783659300233
- ReliureBroché
- Nombre de pages92
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Real Options Analysis. an Application to the Steel Industry
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Real Options Analysis. An application to the Steel Industry: The Application of Real Option Thinking
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Description du livre Taschenbuch. Etat : Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Over the years, the DCF approach has been the valuation choice of many practioners, academics and corporate finance managers. Such valuation techniques include the NPV, IRR and Payback. The former is widely employed due to its intuition and easy computation. Under this approach a project s worthiness is derived from its projected cashflows discounted at the appropriate discount rate (normally the WACC). Projects with positive NPVs are accepted whilst those with negative NPVs are rejected. However, this technique does not tell us what to do next after accepting or rejecting a project. Furthermore the choice of the discount rate is conceptually flawed. What is the most appropriate discount rate for each project These shortcomings of DCF models are addressed by the Real Option Valuation. This research employed the BOPM to value a steel plant. Two embedded options were identified namely the abandonment and expansion options. The research concluded that apart from DCF valuation techniques being currently employed by the firm they can as well incorporate Real Options Analysis to decision making. Such actions if accurately valued and timely executed do add firm value. 92 pp. Englisch. N° de réf. du vendeur 9783659300233
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Real Options Analysis An application to the Steel Industry The Application of Real Option Thinking
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(2013)
ISBN 10 : 3659300233
ISBN 13 : 9783659300233
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Real Options Analysis. An application to the Steel Industry : The Application of Real Option Thinking
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LAP Lambert Academic Publishing
(2013)
ISBN 10 : 3659300233
ISBN 13 : 9783659300233
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Description du livre Taschenbuch. Etat : Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - Over the years, the DCF approach has been the valuation choice of many practioners, academics and corporate finance managers. Such valuation techniques include the NPV, IRR and Payback. The former is widely employed due to its intuition and easy computation. Under this approach a project s worthiness is derived from its projected cashflows discounted at the appropriate discount rate (normally the WACC). Projects with positive NPVs are accepted whilst those with negative NPVs are rejected. However, this technique does not tell us what to do next after accepting or rejecting a project. Furthermore the choice of the discount rate is conceptually flawed. What is the most appropriate discount rate for each project These shortcomings of DCF models are addressed by the Real Option Valuation. This research employed the BOPM to value a steel plant. Two embedded options were identified namely the abandonment and expansion options. The research concluded that apart from DCF valuation techniques being currently employed by the firm they can as well incorporate Real Options Analysis to decision making. Such actions if accurately valued and timely executed do add firm value. N° de réf. du vendeur 9783659300233
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EUR 49
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Real Options Analysis An application to the Steel Industry The Application of Real Option Thinking
Edité par
LAP LAMBERT Academic Publishing
(2013)
ISBN 10 : 3659300233
ISBN 13 : 9783659300233
Neuf
PAP
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Description du livre PAP. Etat : New. New Book. Delivered from our UK warehouse in 4 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. N° de réf. du vendeur L0-9783659300233
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Real Options Analysis. An application to the Steel Industry
Edité par
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(2013)
ISBN 10 : 3659300233
ISBN 13 : 9783659300233
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Description du livre Kartoniert / Broschiert. Etat : New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Autor/Autorin: Mashamba TafireiTafirei Mashamba is a lecturer at Great Zimbabwe University in the Department of Banking & Finance.He holds an Msc degree in Finance & Investments (NUST)and a BCom degree in Banking & Finance (GZU).He is an affiliate . N° de réf. du vendeur 5146817
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