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Finance and Credit
 

Variety of real options and making strategic decisions

Vol. 15, Iss. 37, OCTOBER 2009

Available online: 11 November 2009

Subject Heading: FINANCIAL OPTIONS

JEL Classification: 

Kaneva M.A. PhD, Institute of Economics and Industrial Engineering SB RAS, Novosibisk, Junior Research Fellow ;

Not so long ago financial options were implemented at the financial market. The method quickly spread out. At the same time in the real sector options on nonfinancial assets emerged. The main thesis of the present article is that real option method is not an alternative to the NPV method but is a flexible addition to the risk management tools that enables managers to gain value from project management. Taking as example five real options: an announcement option, a growth option, an expansion option, an option to exit and an option to delay, we demonstrate how to manage risks of the investment projects and gain additional value.

Keywords: real options, exotic options, risk management, NPV method

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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