International Investment: Value Creation and Appraisal
- List Price: $48.00
- Publisher: Handelshojskolens Forlag
- Publish date: 01/01/2008
Description:
The objectives of this study are twofold. These are, first, to explore the impact of real operating options upon international capital investment and appraisal and, second, to meld insights derived from real options analysis into the theory of foreign investment.
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One of the most important areas in which the basic, traditional capital budgeting model needs refinement is in allowing for the fact that a particular investment may endow operating options -- for example, to expand further if so desired, or to disengage if adverse circumstances prevail. This flexibility is not part of the traditional capital budgeting model.
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