VALUATION OF COMPANIES BASED ON REAL OPTION APPROACH
Journal Title: Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie - Year 2018, Vol 19, Issue 1
Abstract
Traditional way of companies valuation based on discounted cash-flows do not consider the value of flexibility that managers can create. The objective of this article is the presentation of the theoretical aspects of companies valuation with real option’s approach and DCF method. The case study regards the power plant valuation. Author took assumptions that valuation method based only on DCF do not considers in proper way the flexibility connected to future companies activity. The development of valuation method by real option approach can complete these deficiencies in random environment.<br/><br/>
Authors and Affiliations
Dariusz Michalski
Keywords
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- EP ID EP346322
- DOI 10.5604/01.3001.0012.0528
- Views 56
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