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Author: Linda Peters Publisher: Springer ISBN: 3319283103 Category : Business & Economics Languages : en Pages : 114
Book Description
This book explains the standard Real Options Analysis (ROA) literature in a straightforward, step by step manner without the use of complex mathematics. A lot of ROA literature is described through partial differential equations, probability density functions and simulation techniques, all of which may be unconvincing in the applicable qualities ROA possesses. Using this book, the reader will have a better grasp about how ROA works and will be able to provide his or her judgment about ROA, since all the basics, as well as its positive and negative qualities, are discussed. Real Options Illustrated provides practitioners with a real options framework and encourages readers to study the methodology using the in-depth explanations. This introduction to ROA is sufficient to equip readers with ROA basics, enabling them to perform future independent research. From this book, readers can judge whether ROA is of any value to their field.
Author: Linda Peters Publisher: Springer ISBN: 3319283103 Category : Business & Economics Languages : en Pages : 114
Book Description
This book explains the standard Real Options Analysis (ROA) literature in a straightforward, step by step manner without the use of complex mathematics. A lot of ROA literature is described through partial differential equations, probability density functions and simulation techniques, all of which may be unconvincing in the applicable qualities ROA possesses. Using this book, the reader will have a better grasp about how ROA works and will be able to provide his or her judgment about ROA, since all the basics, as well as its positive and negative qualities, are discussed. Real Options Illustrated provides practitioners with a real options framework and encourages readers to study the methodology using the in-depth explanations. This introduction to ROA is sufficient to equip readers with ROA basics, enabling them to perform future independent research. From this book, readers can judge whether ROA is of any value to their field.
Author: James J. Alleman Publisher: Springer Science & Business Media ISBN: 0585333149 Category : Business & Economics Languages : en Pages : 274
Book Description
Randall B, Lowe Piper & Marbury, L.L.R The issue of costing and pricing in the telecommunications industry has been hotly debated for the last twenty years. Indeed, we are still wrestling today over the cost of the local exchange for access by interexchange and competitive local ex change carriers, as well as for universal service funding. The U.S. telecommunications world was a simple one before the emergence of competition, comprising only AT&T and independent local exchange carriers. Costs were allocated between intrastate and interstate jurisdictions and then again, between intrastate local and toll. The Bell System then divided those costs among itself (using a process referred to as the division of revenues) and independents (using a process called settlements). Tolls subsidized local calls to keep the politi cians happy, and the firm, as a whole, covered its costs and made a fair return. State regulators, however, lacked the wherewithal to audit this process. Their con cerns centered generally on whether local rates, irrespective of costs, were at a po litically acceptable level. Although federal regulators were better able to determine the reasonableness of the process and the resulting costs, they adopted an approach of "continuous surveillance" where, like the state regulator, the appearance of rea sonableness was what mattered. With the advent of competition, this historical costing predicate had to change. The Bell System, as well as the independents, were suddenly held accountable.
Author: Andreas Würfel Publisher: diplom.de ISBN: 3832473076 Category : Business & Economics Languages : en Pages : 120
Book Description
Inhaltsangabe:Abstract: This paper evaluates the real options approach (ROA) as a means for appraising capital investments under uncertainty. Globalisation and growing competitiveness have led to an increase in uncertainty with regard to companies decision making. Flexibility to react to this uncertainty has become more important. The question arises whether there is a need for a further investment appraisal technique or whether traditional techniques can cope with that. A growing literature about real options shows that traditional investment appraisal techniques do not value flexibility. That is why ROA has become more important within recent years. However, the degree of its utilisation by companies seems to be rather low. Three possible reasons for that are examined: ROA is not well-known by companies, especially small- and medium-sized enterprises. ROA is only limitedly applicable. ROA is too difficult to use. After traditional investment appraisal techniques have been outlined, the real options approach is illustrated by means of a case study. The possible range of application is assessed by reviewing the literature. A survey was conducted to check whether companies know about or apply that technique, and to identify the tools used by companies. This study shows that while the range of possible applications of real options is rather vast, ROA is rarely known by German and British companies and barely applied. One reason might be, that most books and articles are of rather academic nature. This seems to have been realised since books with a focus on practical application have been published recently. The complexity of ROA seems to be a further reason for its low degree of utilisation. Companies tend to use simpler but more comprehensible techniques although these methods have some major drawbacks. However, business science should not end in itself but serve businesses. Therefore, further emphasis has to be put on making real options approachable for practitioners. Inhaltsverzeichnis:Table of Contents: I.Abstract2 II.Acknowledgements3 III.Table of Contents4 IV.List of Figures7 V.List of Abbreviations8 1.Introduction9 2.Characteristics of Investment Decisions11 2.1What Is a Capital Investment?11 2.2Risk and Uncertainty12 3.Tools for Investment Appraisals15 3.1Static Methods15 3.2Discounted Cash Flow Approaches (Dynamic)17 3.3Approaches Which Try to Deal With Risk20 4.The Real Options Approach24 4.1Why Use Real Options to [...]
Author: Federico Sturzenegger Publisher: MIT Press ISBN: 0262013797 Category : Business & Economics Languages : en Pages : 535
Book Description
"This book is important and timely, bringing together some of the world's leading economists. The theory chapters provide new insights and apply new developments in contract theory to the problems of natural resources and credible host country policies. The case studies provide up-to-date illustrations of the difficulties and development of host country policy in Latin America and the UK." Roderick Duncan, Charles Sturt University, Australia "This book is likely to become a standard reference in the area of natural resources and credible host country policies-coming, as it does, with a solid grounding in modern economic theory." Tim Worrall, University of Manchester Volatility in commodity prices has been accompanied by perpetual renegotiation of contracts between private investors in natural resource production and the governments of states with mineral and energy wealth. When prices skyrocket, governments want a larger share of revenues, sometimes to the point of nationalization or expropriation; when prices fall, larger state participation becomes a burden and the private sectoris called back in. Recent and newsworthy changes in the price of oil (which fell from an all-time high of $147 in mid-2008 to $40 by year's end) are notable for their speed and the steepness of their rise and fall, but the up-and-down pattern itself is not unusual. If the unpredictability of commodity prices is so predictable, why do contracts not allow for this with mechanisms that would provide a more stable commercial framework? In The Natural Resources Trap, top scholars address this guestion in terms of both theory and practice. Theoretical contributions range across a number of fields, from contract theory to public finance, and treat topics that include taxation, royalties, and expropriation cycles. Case studies examine experiences in the U.K., Bolivia, Argentina, Venezuela, and other parts of the world. --Book Jacket.
Author: Johnathan Mun Publisher: John Wiley & Sons ISBN: 1118429079 Category : Business & Economics Languages : en Pages : 603
Book Description
"Mun demystifies real options analysis and delivers a powerful, pragmatic guide for decision-makers and practitioners alike. Finally, there is a book that equips professionals to easily recognize, value, and seize real options in the world around them." --Jim Schreckengast, Senior VP, R&D Strategy, Gemplus International SA, France Completely revised and updated to meet the challenges of today's dynamic business environment, Real Options Analysis, Second Edition offers you a fresh look at evaluating capital investment strategies by taking the strategic decision-making process into consideration. This comprehensive guide provides both a qualitative and quantitative description of real options; the methods used in solving real options; why and when they are used; and the applicability of these methods in decision making.
Author: F. Scott Kieff Publisher: Cambridge University Press ISBN: 113950455X Category : Law Languages : en Pages : 597
Book Description
Intellectual property is a vital part of the global economy, accounting for about half of the GDP in countries like the United States. Innovation, competition, economic growth and jobs can all be helped or hurt by different approaches to this key asset class, where seemingly slight changes in the rules of the game can have remarkable impact. This book brings together diverse perspectives from the fields of law, economics, business and political science to explore the ways varying approaches to intellectual property can positively and negatively impact our economy and society. Employing approaches that are both theoretically rigorous and grounded in the real world, Perspectives on Commercializing Innovation is well suited for practising lawyers, managers, lawmakers and analysts, as well as academics conducting research or teaching in a range of courses in law schools, business schools and economics departments, at either the undergraduate or graduate level.
Author: National Academies of Sciences, Engineering, and Medicine (U.S.) Publisher: Transportation Research Board ISBN: 0309273706 Category : Business & Economics Languages : en Pages : 378
Book Description
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.
Author: Andrew H. Chen Publisher: Emerald Group Publishing ISBN: 184855446X Category : Business & Economics Languages : en Pages : 380
Book Description
Contains topics that include the design of a country's financial safety nets, the effective policies of acquiring failed banks in reducing moral hazard problems, the voluntary disclosure of real options by corporate managers, and the interrelationship between the housing and general economic activities.
Author: David T. Emott Publisher: John Wiley & Sons ISBN: 0470920440 Category : Business & Economics Languages : en Pages : 432
Book Description
The ultimate guide to the ins and out of mergers and acquisitions Practitioner's Complete Guide to M&As provides the practical tricks of the trade on M&As: what they need to know, what they have to know, and what they need to do. Numerous examples and forms are included illustrating concepts in discussion. Written in a straight-talking style A highly, practical application-oriented guide to mergers and acquisitions Covers strategy development; deal flow and target identification; due diligence; valuation and offers; tax structuring; negotiation; and integration and value creation" Presents information using bullet points rather than lengthy narrative for ease of reading Numerous exhibits, forms, and examples are included This practical guide takes you through every step of the M&A process, providing all the necessary tools that both the first-time M&A player as well as the seasoned practitioner need to complete a smart transaction.
Author: Linda Peters
Author: Linda Peters
Author: James J. Alleman
Author: Andreas Würfel
Author: Federico Sturzenegger
Author: Johnathan Mun
Author: F. Scott Kieff
Author: National Academies of Sciences, Engineering, and Medicine (U.S.)
Author: 
Author: Andrew H. Chen
Author: David T. Emott