- Series: Thomson South-Western Finance
- Hardcover: 544 pages
- Publisher: Cengage Learning; 1 edition (November 2, 2006)
- Language: English
- ISBN-10: 0324259638
- ISBN-13: 978-0324259636
- Product Dimensions: 1 x 7.5 x 9.5 inches
- Shipping Weight: 2.2 pounds (View shipping rates and policies)
- Average Customer Review: 4.8 out of 5 stars See all reviews (5 customer reviews)
- Amazon Best Sellers Rank: #1,200,313 in Books (See Top 100 in Books)
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An Applied Course in Real Options Valuation (Thomson South-Western Finance) 1st Edition
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1. Introduction. PART 1. THE THEORY OF VALUE. 2. Valuation of Financial Assets. 3. Valuation of Real Assets. PART 2. THE BINOMIAL MODEL. 4. Valuation by Arbitrage in the Binomial Model. PART 3. EUROPEAN-STYLE REAL OPTIONS. 5. Research and Development: Valuing the Preliminary Design of a Super-Jumbo Jet at Boeing. 6. Platform Investments: How Much Are You Willing To Lose in the Name of "Strategy"? A Lesson on Volatility Estimation. 7. Multi-Staged Investments: The Staged Roll-Out of Wal-Mart Neighborhood Markets. 8. Multi-Staged Investments with Technical (or Private) Risk: Early-Stage Pharmaceutical R&D, and the Interaction of Market and Technical Risk. 9. "Rainbow" Options. PART 4. AMERICAN-STYLE REAL OPTIONS. 10. More On Arbitrage Valuation in the Binomial Model: Early Exercise of Options, Convenience Yield, and Value Erosion. 11. The "Traditional" Look of Convenience Yield: An Option to Develop a Coal Mine. 12. Value Erosion that Triggers Early Exercise: An Option on a Tax Credit Investment at Koch Industries. 13. Optimal Abandonment Strategy: Closing a Money-Losing Foreign Subsidiary at Mead Johnson ? An Application with Foreign Exchange Risk. 14. Delayed Response to Decisions: "Fab Shells" at Intel. 15. Multiple Choices: Optimal Pollution Compliance Strategy at the Southern Company. 16. Conclusion: What Else Can You Do?
About the Author
Richard Shockley is a recognized authority on the newly emerging field of real options, with which firms assess and lock in risks on real assets. Dr. Shockley has published in the Journal of Applied Finance, the Journal of Applied Corporate Finance, the Journal of Finance, the Global Finance Journal, the Journal of Private Portfolio Management, the Journal of Money, Credit, and Banking, and the Journal of Financial Intermediation. He has participated in many conferences and presented many invited papers at meetings across the U.S., including the Federal Reserve Board of Governors, and in Australia and Italy. He is also the recipient of many teaching awards and honors.
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Top Customer Reviews
In future editions of this book, I would love to see some development of stochastic processes, the concept of filtrations, Ito's Lemma etc. Dr S can write on this subject at the level that is deeper (and more satisfying) than Wilmott, and more easy to access than say Shimko or Shreve or even Baxter. I think that will add to the value of the book - it can be the gentle introduction to some more advanced concepts, for students and busy practitioners who have very little time (even if they like it) for the math that one sees in some of the advanced derivatives book.
Thanks for putting this book together Dr Shockley!
If you want a good intuitive introduction to what real options are, or are a professor who wants to teach the topic but is afraid it is too complicated for students, take a look at this book. It's not trivially easy, but I think anyone with a basic finance skill set who is interested in the topic will gain a lot.