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21140317 |
| 003 - CONTROL NUMBER IDENTIFIER |
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CITU |
| 005 - DATE AND TIME OF LATEST TRANSACTION |
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20230210111144.0 |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION |
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| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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190819s2019 nju 000 0 eng |
| 010 ## - LIBRARY OF CONGRESS CONTROL NUMBER |
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| LC control number |
2019948429 |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER |
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| International Standard Book Number |
9781786305220 |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER |
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| International Standard Book Number |
9781119687511 |
| 041 ## - LANGUAGE CODE |
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| Language code of text/sound track or separate title |
eng |
| 042 ## - AUTHENTICATION CODE |
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| Authentication code |
pcc |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER |
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| Classification number |
332.6 |
| 100 1# - MAIN ENTRY--PERSONAL NAME |
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| Preferred name for the person |
Heller, David, |
| Relator term |
author. |
| 245 10 - TITLE STATEMENT |
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| Title |
Investment decision-making using optional models / |
| Statement of responsibility, etc |
edited by David Heller. |
| 263 ## - PROJECTED PUBLICATION DATE |
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| Projected publication date |
1909 |
| 264 #1 - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
Hoboken : |
| Name of publisher, distributor, etc |
ISTE Ltd / John Wiley and Sons Inc, |
| Date of publication, distribution, etc |
2019. |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
1 online resource |
| 336 ## - CONTENT TYPE |
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| Content type term |
text |
| Content type code |
txt |
| Source |
rdacontent |
| 337 ## - MEDIA TYPE |
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| Media type term |
computer |
| Media type code |
c |
| Source |
rdamedia |
| 338 ## - CARRIER TYPE |
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| Carrier type term |
online resources |
| Carrier type code |
cr |
| Source |
rdacarrier |
| 500 ## - GENERAL NOTE |
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| General note |
ABOUT THE AUTHOR<br/>David Heller is a Professor-Researcher in Finance and Head of the Masters course in Finance at ISC Paris, France. |
| 505 ## - CONTENTS |
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| Formatted contents note |
Introduction ix<br/><br/>Chapter 1. Risk and Flexibility Integration in Valuation 1<br/><br/>1.1. Introduction 1<br/><br/>1.2. The scope of real options 2<br/><br/>1.2.1. The concept of real options 3<br/><br/>1.2.2. Empirical use of real options 7<br/><br/>1.2.3. Paradigms in options 12<br/><br/>1.3. Valuation of investments by real options 20<br/><br/>1.3.1. Optional valuation of investments in a discrete-time approach 20<br/><br/>1.3.2. Optional valuation of investments in a continuous-time approach 28<br/><br/>1.4. Option model extensions by incorporating new parameters (Levyne and Sahut 2008) 35<br/><br/>1.4.1. Stochastic volatility 36<br/><br/>1.4.2. Transaction costs and models with jumps 39<br/><br/>1.4.3. Option pricing 41<br/><br/>1.5. Conclusion 44<br/><br/>Chapter 2. Optional Modeling of Investment Choices and Surplus Value Linked to the Option to Invest 47<br/><br/>2.1. Introduction 47<br/><br/>2.2. Framework of optional interactions and option to develop an investment project 48<br/><br/>2.2.1. Real investment opportunity 50<br/><br/>2.2.2. Opportunity to postpone decision-making to infinity 52<br/><br/>2.2.3. Development cycle and taking into account new information within dependent projects and focusing on research and development 62<br/><br/>2.3. Option to exchange and abandon an investment project 65<br/><br/>2.3.1. Real options within the replacement cycle and disinvestment alternatives 66<br/><br/>2.3.2. The value of an investment project in the natural resources sector 69<br/><br/>2.3.3. Valuation of the abandonment option by investors 85<br/><br/>2.4. Growth option resulting from investment decisions and acquisition strategies 88<br/><br/>2.4.1. Company profiles justifying growth option value 89<br/><br/>2.4.2. Growth option value related to interactions between financing and investment decisions 90<br/><br/>2.4.3. Acquisition strategies by the real options approach 98<br/><br/>2.5. Conclusion 106<br/><br/>Chapter 3. Data Generation Applied to Strategic and Operational Option Models 107<br/><br/>3.1. Introduction 107<br/><br/>3.2. Determining the right time to invest 107<br/><br/>3.2.1. Application to the carry option 108<br/><br/>3.2.2. Application of the Dixit and Pindyck model 110<br/><br/>3.3. Flexibility of asset exchange, abandonment and temporary shutdown of projects 113<br/><br/>3.3.1. Application to the exchange option 113<br/><br/>3.3.2. Application to the abandonment option 115<br/><br/>3.3.3. Application to the temporary shutdown option 116<br/><br/>3.4. Incorporation of development phases 121<br/><br/>3.4.1. Implementation of a two-stage investment project 121<br/><br/>3.4.2. Valuation of a sequential project 122<br/><br/>Conclusion 135<br/><br/>Appendices 139<br/><br/>Appendix 1. Demonstration of the CRR Formula 141<br/><br/>Appendix 2. Stochastic Differential Calculus 147<br/><br/>Appendix 3. Test of the Black and Scholes Formula and Return on the Log–Normal Distribution 155<br/><br/>Appendix 4. Demonstration of the Black and Scholes Formula 159<br/><br/>Bibliography 165<br/><br/>Index 173 |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc |
In order to create value, companies must allocate their resources effectively and evaluate investment alternatives. This book examines, from a theoretical and empirical point of view, how managerial flexibility can be integrated into investment decisions through the optional approach. Unlike the traditional net present value method, the actual options take into account indeterminate elements. These lead to unpredictable cash flows at the time of the investment decision, especially in the context of complex and risky projects. The book puts into perspective the use of optional models and their interactions. The different categories of options are the subject of practical applications, through analysis of investment decisions where uncertainty is growing. Therefore, studies make it possible to consider the flexible nature of investment choices by integrating new information and risk over time. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
Investments |
| General subdivision |
Decision making |
| -- |
Statistical methods. |
| 655 #0 - INDEX TERM--GENRE/FORM |
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| Genre/form data or focus term |
Electronic books |
| 856 ## - ELECTRONIC LOCATION AND ACCESS |
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| Link text |
Full text available at Wiley Online Library Click here to view |
| Uniform Resource Identifier |
https://onlinelibrary.wiley.com/doi/book/10.1002/9781119687511 |
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| 942 ## - ADDED ENTRY ELEMENTS |
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| Source of classification or shelving scheme |
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| Item type |
EBOOK |