Cash-flow Evaluation Method for Urban Redevelopment Project Including Real Option of Multiple Staged Constructions
نویسندگان
چکیده
منابع مشابه
Real Estate Project Financial Evaluation Based on Cash Flow Estimation
This paper analyzes the factors influencing cash flows and divides them as certainty factors and uncertainty factors; it mainly discusses the uncertainty factors causing change of cash flow. For the characteristics of uncertainty of cash flows in real estate project, we adopted probability theory and mathematical statistics to balance and estimate the cash flows. Then the computer simulation me...
متن کاملSensitivity Analysis for Cash Flow Simulation Based Real Option Valuation
Sensitivity analysis identifies the critical aspects of the investment model that affect model output uncertainty. Common sensitivity analysis on options considers how the solution changes as a result of change in one of the key parameters (underlying asset value, volatility, exercise price, interest rate, time to maturity, dividends). In case of cash flow simulation based real options, these a...
متن کاملAn application of Real Option Analysis for the assessment of operative flexibility in the urban redevelopment
The high variability of market prices and the uncertainty that, even in restrained timeframes, is characterizing the general economic situation, have led real estate operators to a prudent attitude, who tend to postpone or at least stagger the start of the initiatives on hold of more stable conditions. In this context it is appropriate to use evaluation tools enable to enhance the investment ca...
متن کاملAn Assessment Method for Project Cash Flow under Interval-Valued Fuzzy Environment
Effective project management requires reliable knowledge of cash required in different stages of project life cycle. Getting this knowledge is highly dependent on sophisticated consideration of project environment. Nature of projects and their environments are associated with uncertain conditions. In this paper, a new project cash flow assessment method based on project scheduling is proposed t...
متن کاملFuzzy Real Options in Brownfield Redevelopment Evaluation
Real options modeling, which extends the ability of option pricing models to evaluate real assets, can be used to evaluate risky projects because of its capacity to handle uncertainties. This research utilizes possibility theory to represent private risks of a project, which are not reflected in the market and hence are not fully evaluated by standard option pricing models. Using a transformati...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Japanese Journal of Real Estate Sciences
سال: 2004
ISSN: 0911-3576,2185-9531
DOI: 10.5736/jares1985.18.41