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Sequential Growth Option and the Value of the Firm: a Real Options Approach

Author

Listed:
  • Chang, S.W.

Abstract

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.

Suggested Citation

  • Chang, S.W., 1998. "Sequential Growth Option and the Value of the Firm: a Real Options Approach," Papers 98-141, University of Southampton - Department of Accounting and Management Science.
    • Handle: RePEc:fth:sotoam:98-141
    as

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    More about this item

    Keywords

    FIRMS ; INVESTMENTS ; SIMULATION;
    All these keywords.

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing

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