政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/76533

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 114205/145239 (79%)
Visitors : 52612998 Online Users : 1151

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

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大典藏 > College of Commerce > Department of Finance > Periodical Articles > Item 140.119/76533

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/76533

Title:	Venture capital evaluation model using real options
Authors:	Lin, T.T.;Tu, Chia Jung
Contributors:	財管系
Keywords:	Break even;Hitting time;Initial public offerings;Project values;Real Options;Venture Capital;Industry;Optimization;Investments
Date:	2007
Issue Date:	2015-07-13 16:54:30 (UTC+8)
Abstract:	This study applies the real options approach to elucidate investment timing for venture capital companies. This analysis attempts to determine the optimal hitting time t* that makes the gross value of project at maturity time T of initial public offering. When this value discounted back to t* equals the expected variable cost invested at time t. The venture capital company will then make a break even. Through numerical analysis, under situations of actual and expected discount rates, the optimal hitting time t is shown as 1.58 years and 3.996 years, respectively. Project value is $0.51(million) and $2.02 (million), respectively. Furthermore, with an actual discount rate, determines that the function of optimal hitting time t* with speed of mean reversion a is monotonically decreasing. Conversely, with maturity time T, mean reversion level b and σ are monotonically increasing. By applying of expected discount rate, the function of optimal hitting time t* with σ, and speed of mean reversion a are both monotonically decreasing. Mean reversion level b is monotonically increasing with maturity time T. © Taru Publications.
Relation:	Journal of Interdisciplinary Mathematics, 10(4), 459-477
Data Type:	article
DOI link:	http://dx.doi.org/10.1080/09720502.2007.10700507
DOI:	10.1080/09720502.2007.10700507
Appears in Collections:	[Department of Finance] Periodical Articles

Files in This Item:

File	Description	Size	Format
index.html		0Kb	HTML2	959	View/Open

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.

Loading...