지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
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This paper provides an analytical framework for real options in real estate development. It has two contributions to the literature on real options in real estate development. First, the paper provides an extensive literature review on previous studies. The review contains both discrete and continuous models, providing insights on both domestic and foreign studies. Second, the paper has a new strategy for the derivation of the value of an option on real estate development. The options valuation in real estate development is expected to distinguished from the options valuation in traditional finance, as real estate developments have unique features that make investments in real estate different from those in corporate finance. The paper proposes an underlying asset process, which allows negative cash flows from a real estate development project.
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참고문헌 (32)
참고문헌 신청
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Bar-ilan, A. / 1996 / Investment Lags / American Economic Review 86 (3) : 610 ~ 622
Brajkovic, J. / 2010 / Real Options Approach to Investment in Base Load Coal Fired Plant / 2010 Real Options Conference Proceeding
Bulan, L. / 2009 / Irreversible investment, real options, and competition: Evidence from real estate development / Journal of Urban Economics 65 (3) : 237 ~ 251
Capozza, D. / 1994 / The intensity and timing of investment: The case of land / American Economic Review 84 (4) : 889 ~ 904
Bar-ilan, A. / 1996 / Investment Lags / American Economic Review 86 (3) : 610 ~ 622
Brajkovic, J. / 2010 / Real Options Approach to Investment in Base Load Coal Fired Plant / 2010 Real Options Conference Proceeding
Bulan, L. / 2009 / Irreversible investment, real options, and competition: Evidence from real estate development / Journal of Urban Economics 65 (3) : 237 ~ 251
Capozza, D. / 1994 / The intensity and timing of investment: The case of land / American Economic Review 84 (4) : 889 ~ 904
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