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實(shí)物期權(quán)的技術(shù)創(chuàng)新投資案例分析-文庫(kù)吧資料

2025-02-19 22:44本頁(yè)面
  

【正文】 ng real options approach to value a project of developing and marketing a drug (A retrospection)Case solution (4 steps in all)l Step 1: Figuring out main uncertainties l Five stages Case solution (4 steps in all)l Step 1: Figuring out main uncertaintiesl Two main uncertainties: 1. technological uncertainties and 2. market uncertainties, which evolve simultaneously through time. Case solution (4 steps in all)l Step 2: Calculating the final nodes cashinflows and the traditional NPV l l l NPV=953 萬(wàn)元Case solution (4 steps in all)l Step 3: Adding real options analysis, using game theory to assess the options’ valuel ROA value = 萬(wàn)元Case solution (4 steps in all)l Step 4: Contingent decisions treeThank you用心學(xué)習(xí)用心學(xué)習(xí)靜夜四無(wú) 鄰 ,荒居舊 業(yè)貧 。這種期權(quán)增強(qiáng)了管理者的應(yīng)變能力,要有 柔性期權(quán)、增長(zhǎng)型期權(quán)和放棄型期權(quán)l(xiāng) 管理者的選擇權(quán)增加了項(xiàng)目的價(jià)值,充分利用了時(shí)間這一機(jī)會(huì)成本,而不確定性(傳統(tǒng)決策方法的archenemy)是選擇的原因,也是賦予選擇價(jià)值的源泉 REAL OPTION ANALYSIS ON PROJECT
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