Valuation of R&D Projects

研究成果: Article同行評審

3 引文 斯高帕斯(Scopus)

摘要

This work presents a novel option pricing method to evaluate R&D projects, an area that has received considerable attention in recent years. As the underlying assets, e.g. R&D projects, are usually non-tradable, this work examines a "twin" or "surrogate" traded asset whose price process is highly correlated with that of a non-traded underlying asset. Based on the observable market price of the surrogate asset, the proposed model can price the value of a real option underlying the non-traded R&D projects. The proposed model differs from previous ones mainly owing to its ability to deal with highly complex situations, e.g. the compound effect and the non-tradability of R&D projects, when evaluating them.

原文English
頁(從 - 到)289-304
頁數16
期刊Asia Pacific Management Review
16
發行號3
出版狀態Published - 2011 十二月 14

All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Strategy and Management

指紋 深入研究「Valuation of R&D Projects」主題。共同形成了獨特的指紋。

引用此