National Changhua University of Education Institutional Repository : Item 987654321/14479

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NCUEIR > Publication > Review of Global Management and Service Science > Volum2 > Item 987654321/14479

Please use this identifier to cite or link to this item: http://ir.ncue.edu.tw/ir/handle/987654321/14479

Title:	OPTIMAL R&D PROJECT VALUATIONS UNDER INDUSTRY COMPETITIONS AND INCOMPLETET INFORMATION
Authors:	Huang, Shian-Chang
Contributors:	企業管理學系
Keywords:	R&D valuation;Real option;Risk sensitive effect;Industry competition;Incomplete information
Date:	2012
Issue Date:	2012-11-22T04:34:46Z
Publisher:	彰化師範大學企業管理學系
Abstract:	The valuation of R&D project involving a number of interdisciplinary knowledge has become an important research field of service science. Traditional researches on R&D project valuations do not consider the influences of technological progress and gradual information revelations on R&D investments. This study develops a framework for optimal valuations of R&D projects under industry competition and incomplete information, which is not considered in traditional real option literature. This study also includes manager's risk preference in considering the optimal exercise policy, which has substantial impacts on the investment timing. The results of this study provide a deeper understanding of the influences of various uncertainties on R&D project valuations and decision makings. The explicit formulas for the optimal valuation and exercise policy of an R&D project provided by this study help managers making good decisions on their investments.
Relation:	Review of Global Management and Service Science, 2: 1-14
Appears in Collections:	[Review of Global Management and Service Science] Volum2

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