Sequential Growth Option and the Value of the Firm: a Real Options Approach.

The purpose of this paper is to value a firm with sequential growth options in two types of uncertainty, 'uncertain cash flow' and 'uncertain investment yield'. The paper shows that such a firm can be valued by the real options approach, given the firm's cash process, investment yiel process and investment policy.

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Year of publication:	1998
Authors:	Chang, S.W.
Institutions:	Economics Division, University of Southampton
Subject:	FIRMS \| INVESTMENTS \| SIMULATION

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Series:	University of Southampton - Department of Accounting and Management Science.
Type of publication:	Book / Working Paper
Notes:	32 pages
Classification:	D90 - Intertemporal Choice and Growth. General ; D92 - Intertemporal Firm Choice and Growth, Investment, or Financing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005780583