Metodologiczne i aplikacyjne problemy wyceny opcji realnych za pomoca algorytmow wyceny opcji finansowych

• Authors: Mielcarz Pawel

Title variants

EN

METHODOLOGICAL AND PRACTICAL PROBLEMS OF REAL OPTION VALUATIONS

• Languages of publication: PL

Abstracts

EN

The article deals with the problem of application the financial options valuation theory into the real options valuation. It consists of three parts. The first one presents the methodology background of the financial option valuation models. This part gives the general outlook on the problems which occurs in the process of adopting the methodology to solve the capital budgeting problems. The main problem concerns the lack of market valuated instrument which could be used to compose the replicating portfolio for payouts from real options. In the second part, there are presented attempts to solve the problem of the replicating portfolio of the real options which appeared in the financial literature. There is presented the Market Asset Declaimer as a one of the most appealing solution from the practical perspective. The last part of the article discusses the application issues of different analytical tools. The conclusions indicate that binominal trees methodology is more suitable to implement the real options methodology in decision processes than other tools.

Keywords

EN

BUDGETING; CAPITAL; VALUATION

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Wyższa Szkoła Finansów i Zarządzania w Warszawie
• Journal: Contemporary Economics
• Year: 2007
• Issue: 1(1)
• Pages: 87-107
• Document type: ARTICLE

Contributors

author

Mielcarz Pawel

• Pawel Mielcarz, Akademia Leona Kozminskiego, ul Jagiellonska 57/59, 03-301 Warszawa, Poland

Identifiers

CEJSH db identifier

11PLAAAA09237