STUDYING THE IMPLEMENTATION OF REAL OPTIONS BY CORPORATE COMPANIES’ MANAGERS

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SINAYI H.A.; HASHEMI GHANDALI I.

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Journal: FINANCIAL ACCOUNTING Year:2009 | Volume:1 | Issue:1 Page(s): 76-92

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Information Journal Paper

Title

STUDYING THE IMPLEMENTATION OF REAL OPTIONS BY CORPORATE COMPANIES’ MANAGERS

Author(s)

SINAYI H.A. | HASHEMI GHANDALI I. | Issue Writer Certificate

Keywords

REAL OPTIONSQ3

ENVIRONMENTAL UNCERTAINQ2

R&D COSTSQ3

VALUATION AND RISK FREE RATE OF INTERESTQ2

Abstract

Using the traditional investment appraisal techniques for investment projects, such as discounted cash flow techniques (IRR, NPV ...), in the face of uncertainty, flexibility and management flexibility lead to incorrect assessments. Therefore, due to these shortcomings using REAL OPTIONS idea tend to obtain correct project value which influence firm’s value leads to a better project assessment. First step is to ask whether Iranian corporate managers are aware of the REAL OPTIONS when assessing investment projects. Next question would be how they implement the REAL OPTIONS idea in the face of ENVIRONMENTAL UNCERTAIN, changing interest rates, amount of investment outlays and R&D cost. In this study we have selected 117 companies from listed companies in Tehran Stock Exchange. By sending out questionnaires we have obtained our data and using linear regression models tested our four hypotheses. Results indicate that the amount of investment outlays, changing interest rates, ENVIRONMENTAL UNCERTAIN and R&D cost have impact on the use of REAL OPTIONS by respondents.

Cites

RELATIONSHIPS AMONG IDIOSYNCRATIC UNCERTAINTY, MANAGERIAL FLEXIBILITY AND CAPITAL INVESTMENT WITHIN THE COMPANIES LISTED IN TEHRAN STOCK EXCHANGE

References

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APA: Copy

SINAYI, H.A., & HASHEMI GHANDALI, I.. (2009). STUDYING THE IMPLEMENTATION OF REAL OPTIONS BY CORPORATE COMPANIES’ MANAGERS. FINANCIAL ACCOUNTING, 1(1), 76-92. SID. https://sid.ir/paper/168106/en

Vancouver: Copy

SINAYI H.A., HASHEMI GHANDALI I.. STUDYING THE IMPLEMENTATION OF REAL OPTIONS BY CORPORATE COMPANIES’ MANAGERS. FINANCIAL ACCOUNTING[Internet]. 2009;1(1):76-92. Available from: https://sid.ir/paper/168106/en

IEEE: Copy

H.A. SINAYI, and I. HASHEMI GHANDALI, “STUDYING THE IMPLEMENTATION OF REAL OPTIONS BY CORPORATE COMPANIES’ MANAGERS,” FINANCIAL ACCOUNTING, vol. 1, no. 1, pp. 76–92, 2009, [Online]. Available: https://sid.ir/paper/168106/en

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