search query: @author Ekern, S. / total: 8
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Author: | Bjerksund, P. Ekern, S. |
Title: | Managing investment opportunities under price uncertainty: from "last chance" to "wait and see" strategies |
Journal: | Financial Management
1990 : AUTUMN, VOL. 19:3, p. 65-83 |
Index terms: | PORTFOLIO MANAGEMENT SHARE PRICES CASH FLOW |
Language: | eng |
Abstract: | Evaluation of investment projects characterized by both output price uncertainty and flexibility to make an irrevocable accept/reject decision at a later date. Assumptions and commitment value. Project. Investment flexibility. Valuing future output. Commitment value. Traditional accept/reject case. Development decision at any time. Valuing the investment opportunity. Expiring investment opportunity. Managerial flexibility. A numerical example. Abandonment or operating flexibility. Four Exhibits illustrate the study. |
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