haku: @author Angelis, D.I. / yhteensä: 2
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| Tekijä: | Angelis, D.I. |
| Otsikko: | An option model for R&D valuation |
| Lehti: | International Journal of Technology Management
2002 : VOL. 24:1, p. 44-56 |
| Asiasana: | ASSET VALUATION R&D VALUATION |
| Kieli: | eng |
| Tiivistelmä: | Many of the assumptions made for stock prices are not applicable to R&D projects, making it difficult to apply the Black-Scholes model to real options. In particular, changes in the value of the underlying asset resulting from R&D efforts are not entirely random and cannot be modelled as a random walk. The model presented in this paper addresses this problem by making no assumptions about how the underlying asset value changes over time. |
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