Abstract/Details

Un caso de estudio para evaluar alternativas de inversión usando opciones reales


2004 2004

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Abstract (summary)

The traditional techniques used to evaluate investment alternatives do not appropriately capture the inherent uncertainty in multistage projects and do not allow for the consideration of managerial flexibility in the decision making process. In order to address these issues, recently, investments decisions have been modeled as real options based on an interesting analogy about financial options. This work presents the application of this methodology using two case studies. The first case deals with the development of a new drug in a pharmaceutical industry in which there is a great deal of uncertainty due to the technological risks involved. The second case study deals with the exploitation of an oil well which has significant economic risks due to the variation in the price of the barrels. The results shows that this methodology provides more precise estimates than conventional discounted-cash-flow techniques since it incorporates better the value of information and volatility involved.

Indexing (details)


Subject
Industrial engineering;
Finance;
Pharmaceutical industry;
Crude oil prices;
Oil wells;
Investment policy;
Volatility;
Models;
Studies
Classification
0546: Industrial engineering
0508: Finance
Identifier / keyword
Social sciences; Applied sciences; Spanish text
Title
Un caso de estudio para evaluar alternativas de inversión usando opciones reales
Author
Gomez Villa, Carlos Andres
Number of pages
130
Publication year
2004
Degree date
2004
School code
0553
Source
MAI 43/04M, Masters Abstracts International
Place of publication
Ann Arbor
Country of publication
United States
ISBN
9780496897414, 0496897411
Advisor
Vazquez, Viviana Cesani
University/institution
University of Puerto Rico, Mayaguez (Puerto Rico)
University location
United States -- Puerto Rico
Degree
M.E.
Source type
Dissertations & Theses
Language
Spanish
Document type
Dissertation/Thesis
Dissertation/thesis number
1424397
ProQuest document ID
305080360
Copyright
Database copyright ProQuest LLC; ProQuest does not claim copyright in the individual underlying works.
Document URL
http://search.proquest.com/docview/305080360
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