Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.3/4813
Título: Real Options Valuation : an application to the portuguese real estate market
Autor: Oliveira, Carla
Couto, Gualter
Pimentel, Pedro
Palavras-chave: Optimal Timing
Real Estate
Real Options
Data: Jun-2008
Editora: Universidade dos Açores
Citação: Oliveira, Carla; Couto, Gualter; Pimentel, Pedro (2008). Real Options Valuation: an application to the portuguese real estate market, "Working Paper Series", 8, 22 pp.. Ponta Delgada: Universidade dos Açores, CEEAplA-A.
Resumo: The contribution of real options analysis on the valuation of Portuguese undeveloped building sites is significant on the decision making regarding the apartment-buildings construction. Using the options model developed by Quigg (1993), and including the necessary readjustments for the Portuguese market, it was found that the scale price elasticity parameter and construction expenditures’ elasticity of scale parameter had a strong impact on building sites’ values. The empirical analysis revealed that the option to defer adds value to undeveloped building sites’ valuations. This fact cannot be ignored when deciding upon an investment’s implementation.
URI: http://hdl.handle.net/10400.3/4813
Aparece nas colecções:CEEAplA Working Paper Series 2008

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