haku: @author Friedl, G. / yhteensä: 2
viite: 2 / 2
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| Tekijä: | Friedl, G. |
| Otsikko: | Sequential Investment and Time tî Build |
| Lehti: | Schmalenbach Business Review
2002 : JAN, VOL. 54:1, p. 58-79 |
| Asiasana: | INVESTMENT MANAGEMENT CONSTRUCTION INDUSTRY DECISION MAKING |
| Kieli: | eng |
| Tiivistelmä: | Real world investment decisions are generally made sequentially, over time. Management must consider the possibility of subsequent decisions like suspending a project when an initial investment decision is made. This consideration seems to be particularly important in the case of investments, which take a long time to build. In this paper, the author analyzes the impact of lags between the initial investment decision and the completion of the project. The author also analyzes in a dynamic setting under uncertainty the impact on the investment value of the option to suspend investment or operations and the investment threshold. The author shows that the standard net present value rule works well within my framework. |
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