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Empirical Test of Land Readjustment in Real Option---Example of Kaohsiung DomeTsai, Hsiao-mei 22 January 2008 (has links)
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The decision process of product innovation-using real option analysisYang, Yuh-lin 23 June 2006 (has links)
New product innovation strategy is always be the best way for corporations to enhance earning. A lot of essays have discussed the benefits of innovation strategy and the factors that make innovation strategy successful. However, different innovation degree creates different effects and costs. By former researchs, the higher degree of innovation dosen¡¦t guarantee the huger of profit. Therefore, knowing the decision procerss of new product innovation is realy important and worthful.
In this article, we divide new products into two groups with different innovation degree: the minor innovation product (incremental innovation product) and the major innovation product (radical innovation product). By using real options analysis method, we build a evaluation model to estimate the new product value during the procerss of new product innovation. We also go into what factors will influence the corporations¡¦ decision. Furthermore, we do the sensitivity analysis with numerical method and to realize corporations¡¦ preference and tendency in product innovation decision. At last, we use the real option evaluation model to analyze some product innovation cases in Taiwan.
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noneShen, Tao-Cheng 18 February 2002 (has links)
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A Study on the key factors of future growth opportunities of enterprisesChiu, Shih-Fang 11 June 2004 (has links)
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Impacts of project management on real option valuesBhargav, Shilpa Anandrao 17 February 2005 (has links)
The cost of construction projects depends on their size, complexity, and duration. Construction management applies effective management techniques to the planning, design, and construction of a project from conception to completion for the purpose of controlling time, cost and quality. A real options approach in construction projects, improves strategic thinking by helping planners recognize, design and use flexible alternatives to manage dynamic uncertainty. In order to manage uncertainty using this approach, it is necessary to value the real options. Real option models assume independence of option holder and the impacts of underlying uncertainties on performance and value. The current work proposes and initially tests whether project management reduces the value of real options. The example of resource allocation is used to test this hypothesis. Based on the results, it is concluded that project management reduces the value of real options by reducing variance of the exercise signal and the difference between exercise conditions and the mean exercise signal.
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noneWu, Kuo-Chiang 27 June 2000 (has links)
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Valuation of Internet CorporatesHuang, Chuan-Chien 28 June 2000 (has links)
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Nonlinear Residual Income ModelYeh, Chao-Hui 30 July 2001 (has links)
Nonlinear Residual Income Model
Abstract
Residual income has been proven to be a new approach of value relevance recently. The purpose of this study is to introduces residual income completely, and hopefully make some creativeness and contribution to residual income model.
This paper is a both modeling and empirical study. In modeling, we have the following results¡G
(1) Next period residual income is a nonlinear function of this period residual income, when we consider managers¡¦ real option.
(2) This study introduces ¡§nonlinear residual income model¡¨ into Ohlson model, therefore firms¡¦ value is a nonlinear function of this period residual income.
(3) This paper develops an option-based valuation model. According to this paper, equity value consists of the expected value from maintaining current operations, plus the value of the (put) option to discontinue operations at date t+1, and value of the (call) option to expand operations at date t+1.
Empirical tests based on 27,536 firm-year observations from 1991-99 supports the above predictions of (1) and (2). In addition to the traditional OLS, this paper applies a new statistical approach--Sliced Inversed Regression (SIR). By SIR, we identify that our data has nonlinear components.
This paper provides an alternative choice of valuation model and suggests that future research should approach the basic of value drivers.
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The Application of Real Option on BOT Model Capital Investment Decision-Case Study of Tapeng Bay National Scenic AreaSu, Pei-Kuei 18 July 2002 (has links)
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Impacts of project management on real option valuesBhargav, Shilpa Anandrao 17 February 2005 (has links)
The cost of construction projects depends on their size, complexity, and duration. Construction management applies effective management techniques to the planning, design, and construction of a project from conception to completion for the purpose of controlling time, cost and quality. A real options approach in construction projects, improves strategic thinking by helping planners recognize, design and use flexible alternatives to manage dynamic uncertainty. In order to manage uncertainty using this approach, it is necessary to value the real options. Real option models assume independence of option holder and the impacts of underlying uncertainties on performance and value. The current work proposes and initially tests whether project management reduces the value of real options. The example of resource allocation is used to test this hypothesis. Based on the results, it is concluded that project management reduces the value of real options by reducing variance of the exercise signal and the difference between exercise conditions and the mean exercise signal.
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