Journal of Korea Technology Innovation Society (기술혁신학회지)

Korea Technology Innovation Society (한국기술혁신학회)
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Valuation of Two-Stage Technology Investment Using Double Real Option

이중실물옵션을 활용한 단계별 기술투자 가치평가

  • 성웅현 (한신대학교 정보통계학과)
  • Published : 2002.07.01
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Abstract

Many technology investment projects can be considered as set of sequential options. A compound real option can be used for evaluating sequential technology investment decisions under significant uncertainty and measuring its value. In this paper, the formula developed by Geske and Johnson(1984) and Buraschi and Dumas(2001) was applied to evaluate the technology investment with related double real option. Also double real option was com-pared with net present value method and multiple linear regression model was used to assess the partial effects of risk free rate and log-term volatility on its value.

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References

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