政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/6115

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | 全文筆數/總筆數 : 113318/144297 (79%)
造訪人次 : 51036811 線上人數 : 960

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/6115

請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/6115

題名:	Pricing real growth options when the underlying assets have jump diffusion processes: the case of R&D investments
作者:	吳明政;顏錫銘 Wu, Ming-Cheng;Simon H. Yen
日期:	2006
上傳時間:	2008-11-05 17:00:13 (UTC+8)
摘要:	Numerous previous studies have demonstrated that research and development (R&D) investments can be evaluated by a real growth options approach. However, few studies have constructed evaluating models which consider the important R&D characteristics, including uncertainty regarding the project value, investment cost, and jump diffusion processes. The contribution of this study is not only to derive a model for evaluating R&D investments to conform to these key characteristics of R&D activities but also to build a real option pricing method that is more general than comparative important models, such as the theoretical papers of Black and Scholes (1973), Merton (1976), and Fischer (1978), and the application paper of Brach and Paxson (2001). This study also presents sensitivity analyses which illustrate the dynamic relationship between the real growth option value and the project value, investment cost, and main jump parameters. Hopefully, the results of this study can provide a useful reference for managers, and help them make better evaluations of R&D investments.
關聯:	R&D Management, 37(3), 269-27
資料類型:	article
DOI 連結:	http://dx.doi.org/10.1111/j.1467-9310.2007.00474.x
DOI:	10.1111/j.1467-9310.2007.00474.x
顯示於類別:	[財務管理學系] 期刊論文

文件中的檔案:

檔案	描述	大小	格式	瀏覽次數
269276.pdf		143Kb	Adobe PDF2	1435	檢視/開啟

在政大典藏中所有的資料項目都受到原著作權保護.

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

資料載入中.....