| dc.contributor | 財管系 | |
| dc.creator (作者) | Lin, T.T.;Tu, Chia Jung | |
| dc.date (日期) | 2007 | |
| dc.date.accessioned | 13-Jul-2015 16:54:30 (UTC+8) | - |
| dc.date.available | 13-Jul-2015 16:54:30 (UTC+8) | - |
| dc.date.issued (上傳時間) | 13-Jul-2015 16:54:30 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/76533 | - |
| dc.description.abstract (摘要) | This study applies the real options approach to elucidate investment timing for venture capital companies. This analysis attempts to determine the optimal hitting time t* that makes the gross value of project at maturity time T of initial public offering. When this value discounted back to t* equals the expected variable cost invested at time t*. The venture capital company will then make a break even. Through numerical analysis, under situations of actual and expected discount rates, the optimal hitting time t* is shown as 1.58 years and 3.996 years, respectively. Project value is $0.51(million) and $2.02 (million), respectively. Furthermore, with an actual discount rate, determines that the function of optimal hitting time t* with speed of mean reversion a is monotonically decreasing. Conversely, with maturity time T, mean reversion level b and σ are monotonically increasing. By applying of expected discount rate, the function of optimal hitting time t* with σ, and speed of mean reversion a are both monotonically decreasing. Mean reversion level b is monotonically increasing with maturity time T. © Taru Publications. | |
| dc.format.extent | 176 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | Journal of Interdisciplinary Mathematics, 10(4), 459-477 | |
| dc.subject (關鍵詞) | Break even; Hitting time; Initial public offerings; Project values; Real Options; Venture Capital; Industry; Optimization; Investments | |
| dc.title (題名) | Venture capital evaluation model using real options | |
| dc.type (資料類型) | article | en |
| dc.identifier.doi (DOI) | 10.1080/09720502.2007.10700507 | |
| dc.doi.uri (DOI) | http://dx.doi.org/10.1080/09720502.2007.10700507 | |
