A Market-Based Replacement Cost Approach to Technology Valuation

Mergers and market valuation: real options approach

This paper investigates the connection between market valuation anda type of the merger (stock, cash) using real options setup. I solveexplicitly for the timing and terms of cash mergers in two deferent settingsto demonstrate that cash mergers generally occur at low marketvaluations, whereas stock mergers that may be observed at both low andhigh valuations; the result holds with some dierences ...

A Market-Based Real-Asset Martingale Valuation Approach to Optimum Inventory Control

We propose a novel approach to optimum inventory control by modeling a commodity trader’s inventory investment as a portfolio of forward commitments taking explicit account of the dynamics of demands, costs and prices in open markets. We apply the robust real-asset martingale valuation methodology to derive a closed-form solution for the inventory value and a simple and intuitive optimality con...

mergers and market valuation: real options approach

this paper investigates the connection between market valuation anda type of the merger (stock, cash) using real options setup. i solveexplicitly for the timing and terms of cash mergers in two deferent settingsto demonstrate that cash mergers generally occur at low marketvaluations, whereas stock mergers that may be observed at both low andhigh valuations; the result holds with some dierences...

environmental cost of groundwater: a contingent valuation approach

he water framework directive of the european union has become a milestone in the water policy for this area. this directive aims to achieve a “good ecological status” of bodies of water in the member states of the european union by 2015. the water framework directive calls for the application of economic principles, economic approaches, tools and instruments. the functions of this economic anal...

Salary Related Cash Flows: Market Based Valuation