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Applying the maximum NPV rule with discounted/growth factors to a flexible production scale model
Authors:Tyrone T Lin
Institution:Department of International Business, National Dong Hwa University, 1 Sec. 2, Da-Hsueh Road, Shou-Feng, Hualien 974, Taiwan
Abstract:This study examines the maximum net present value of the market entry and exit thresholds derived by the traditional net present value method and combines the real options approach for the project investment or disinvestment. The discounted and growth factors are incorporated into the proposed entry and exit models, facilitating the complicated calculations required to identify the discounted and growth rates so as to assess and determine the expected present value of uncertain cash flow streams. Consequently, this investigation successfully combines applying the maximum net present value method and the real options approach to decision-making with the simple consideration of the discounted and growth factors in the flexible production scale model.
Keywords:Maximum NPV  Discounted and growth factors  Flexible production scale  Entry and exit  Real options
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