The purpose of this paper is to value a firm with sequential growth options in two types of uncertainty, 'uncertain cash flow' and 'uncertain investment yield'. The paper shows that such a firm can be valued by the real options approach, given the firm's cash process, investment yiel process and investment policy.
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Paper provided by University of Southampton - Department of Accounting and Management Science in its series Papers with number
98-141.
Length: 32 pages Date of creation: 1998 Date of revision: Handle: RePEc:fth:sotoam:98-141
Contact details of provider: Postal: University of Southampton, Department of Accounting & Mangement Science, Southampton S09 5NH UK. Phone: 44 0173 592537/592555 Fax: 44 0173 593858 Email: Web page: http://www.soton.ac.uk/~econweb/ More information through EDIRC