PL EN


Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
Tytuł artykułu

Real options in a systemic approach to the timing problem in development projects

Autorzy
Treść / Zawartość
Identyfikatory
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
The management environment at the beginning of the XXI century is characterized by high volatility. Development projects should take into account not only certain deliverables but also any opportunities that may arise. These opportunities are called real options. The paper describes a systems approach to various types of real options that can be found in a project’s environment. A method is presented for using such options in the timing problem.
Rocznik
Strony
73--85
Opis fizyczny
Bibliogr. 20 poz., rys., tab.
Twórcy
  • Department of Operational Research, University of Economics in Katowice, ul. Bogucicka 14, 40-226 Katowice, Poland
Bibliografia
  • [1] BLACK F., SCHOLES M., The pricing of options and corporate liabilities, Journal of Political Economy, 1973, 81 (3), 637.
  • [2] BOYLE P.P., Options. A Monte Carlo approach, Journal of Financial Economics, 1977, 4, 323.
  • [3] BOYLE P.P., A lattice framework for option pricing with two state variables, Journal of Financial and Quantitative Analysis, 1988, 23 (1), 1.
  • [4] COX J.C., ROSS S.A., RUBINSTEIN M., Option pricing. A simplified approach, Journal of Financial Economics, 1979, 7, 229.
  • [5] DE MAGALHAES OZORIO L., SHEVCHENKO P.V., DE LAMARE B.-P. C., The choice of stochastic process in real option valuation II. Selecting multiple factor models. Presented at the Real Options 17th Annual International Conference, London 2013.
  • [6] GUTHRIE G., Real Options in Theory and Practice, Oxford University Press, Oxford 2009.
  • [7] GUS, Prices of construction work and constructions in December 2013, Warsaw 2014 (in Polish).
  • [8] HWANG C.L., YOON K., Multiple attribute decision making. Methods and applications, Springer-Verlag, New York 1981.
  • [9] INGERSOLL J., ROSS S.A., Waiting to invest. Investment and uncertainty, Journal of Business, 1992, 65 (1), 1.
  • [10] MYERS S.C., MAJD S., Abandonment value and project life, Advances in Futures and Options Research, 1990, 4, 1.
  • [11] MUN J., Real options, [in:] J.B. Abrams (Ed.), Quantitative Business Valuation, Wiley, 2nd Ed., Hoboken 2010.
  • [12] Regulation of the Council of Ministers of 30 December 1999, Journal of Laws, 112, item 1316 as amended, Warsaw (in Polish).
  • [13] SAATY T.L., Priorities originate from dominance and order topology in AHP/ANP. The fundamental scale, relative scales and when to preserve rank, [in:] W. Adamus (Ed.), The Analytic Hierarchy and Network Processes, Wydawnictwo Uniwersytetu Jagiellońskiego, Kraków 2008.
  • [14] SEYDEL R.U., Tools for Computational Finance, Universitext, Springer, 4th Ed., Berlin 2009.
  • [15] TARGIEL K.S., Multiple criteria decision making in the valuation of real options, Multiple Criteria Decision Making, 2013, 8, 129.
  • [16] TARGIEL K.S., Valuation of investment projects in the context of sustainable development. Real option approach, The 2013 World Congress on Sustainable Technologies (WCST), London 2013, 90.
  • [17] TARGIEL K., Modeling changes in the state variable to value real options, Studia Ekonomiczne, 2014, 178, 220 (in Polish).
  • [18] TARGIEL K.S., Support for sustainable development projects based on real options, [in:] Systems Engineering – Exploring New Horizons, the EMEASEC 2014, INCOSE, Somerset West, Cape Town, South Africa, 2014.
  • [19] TRZASKALIK T., Multiobjective Analysis in Dynamic Environment, Publisher of The Karol Adamiecki University of Economics in Katowice, Katowice 1988.
  • [20] A Multi-Criteria Approach to Decision Making. Methods and Applications, T. Trzaskalik (Ed.), PWE, Warsaw 2014 (in Polish).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-668f5a0f-adcf-4351-8e51-a5bef719dc3c
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.