VroniPlag Wiki


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Verschleierung
Bearbeiter
SleepyHollow02
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Untersuchte Arbeit:
Seite: 86, Zeilen: 14-17, 27-31
Quelle: Coy 1999
Seite(n): 118, 119, Zeilen: 118: right col. 1 ff., 39 ff.; 119: right col. 1 ff.
Experts had developed rules of thumb that simplify the formidable math behind options valuation, while making real options applicable in a broader range of situations. And consulting firms are aware of this technique as the Next Big Thing to sell clients.

[...]

A traditional calculation of net present value discounts projected costs and revenues and examines the project as a whole and concludes it is a no-go, in case the NPV is negative. The real-options analysis will break the same project into stages and may conclude that it makes sense to fund at least the first stage. Real options analysis rewards flexibility, and that is what makes it more appropriate for [strategic investments with high levels of uncertainty, than today's standard decision-making tool, the NPV method.]

[page 118]

Real-options analysis rewards flexibility—and that's what makes it better than today's standard decision-making tool, "net present value." [...]

Experts have developed rules of thumb that simplify the formidable math behind options valuation, while making real options applicable in a broader range of situations. And consulting firms have latched on to the technique as the Next Big Thing to sell to clients.

[page 119]

THE NEW MATH IN ACTION

[...]

A traditional calculation of net present value, which discounts projected costs and revenues into today’s dollars, examines the project as a whole and concludes it’s a no-go. But a real-options analysis breaks it into stages and concludes it makes sense to fund at least the first stage.

Anmerkungen

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(SleepyHollow02) (Klgn) Schumann