상세정보

In capital investing, as in life, you always have options. In today's extremely turbulent world, managers recognize how risky the most valuable investment opportunities often are, and how useful a flexible strategy can be. That's why they want to know all their options. Yet many current
financial assessment tools fail to identify what investors can do to capitalize on future uncertain events. Martha Amram and Nalin Kulatilaka suggest a smarter new way to think about strategic investments in terms of real options. By applying options thinking--the concept behind the recent Nobel
Prize-winning work on financial options--to the evaluation of nonfinancial assets, this innovative approach brings a financial market discipline to the evaluation of a company's opportunities. Using real options theory, managers can more effectively target crucial opportunities to redeploy, delay,
modify, or even abandon capital-intensive projects as events unfold. Corporate executives in finances, investments, and project management should share this book with decision makers in information technology, strategic planning, corporate restructuring, venture capital, and law. Through timely case
studies, the authors show managers how to use real options to evaluate investments and create exit strategies in R&D, product design, contracts, and information technology. By linking strategic vision and tactical project decisions, Real Options helps to improve capital investment planning and
results.

정보제공 :

CONTENTS
Preface = ⅶ
PART Ⅰ The Real Options Potential = 1
 Chapter 1 Introduction = 3
 Chapter 2 Uncertainty Creates Opportunities = 13
 Chapter 3 Option Valuation : The Nobel Prize-Winning Breakthrough = 29
 Chapter 4 From Wall Street to Main Street : Options on Real Assets = 47
 Chapter 5 Disciplined Strategy = 63
 Chapter 6 Quick Lessons = 79
PART Ⅱ Thd Real Options Solution Process = 87
 Chapter 7 The Four-Step Solution Process = 89
 Chapter 8 Calculating Option Values = 107
 Chapter 9 Adjusting for Leakage in Value = 127
PART Ⅲ A Portfolio of Applications = 141
 Chapter 10 Valuing a Start-up = 143
 Chapter 11 Investing in a Start-up = 149
 Chapter 12 Exploring for Oil = 155
 Chapter 13 Developing a Drug = 163
 Chapter 14 Investing in Infrastructure = 169
 Chapter 15 Valuing Vacant Land = 175
 Chapter 16 Buying Flexibility = 181
 Chapter 17 Combining Real and Financial Flexibility = 187
 Chapter 18 Investing to Preempt Competitors = 193
 Chapter 19 Writing a License = 199
PART Ⅳ Conclusion = 205
 Chapter 20 Changing the Questions We Ask = 207
Appendix A Quick Introduction to Discounted Cash Flow and the Estimation of Volatility = 211
Guide to Literature = 215
Notes = 223
References = 231
Index = 241
About the Authors = 245