haku: @indexterm Timetabling / yhteensä: 51
viite: 39 / 51
| Tekijä: | Lee, C. J. |
| Otsikko: | Capital budgeting under uncertainty: The issue of optimal timing |
| Lehti: | Journal of Business Finance and Accounting
1988 : SUMMER, VOL. 15:2, p.155-168 |
| Asiasana: | BUDGETING TIMETABLING UNCERTAINTY ENVIRONMENT MANAGEMENT ACCOUNTING |
| Kieli: | eng |
| Tiivistelmä: | The issue of optimal timing on project implementation in an uncertain economic environment is examined. The valuation of timing option crucially depends on the nature of stochastic process. To exemplify the application of the general model, three cases, namely, the optimal timing of plant and equipment replacement, real estate development and marketing a new product, are considered. It is argued that the three cases differ only in the specification of the stochastic process of project value. The aim is to keep the basic structure simple: many possible complications and extensions are mentioned along the way but are not explored in detail. Some analytical and numerical examples are discussed, concluding remarks are given. |
SCIMA