masterThesis
Opciones reales en el sector de la construcción
Fecha
2019Registro en:
658.15 M539
Autor
Mendoza Estrada, Maria Cristina
Montoya Duque, Nicolas
Institución
Resumen
Real options have become a key element when it comes to valuing investment projects, especially when they have the option of deferring the investment. This work values a real estate project incorporating the option of deferring the beginning of its constructionfor for a period of five years, the methodology used to calculate the option value was binomial trees, where volatility was calculated based on the project cash flows. The results provide evidence confirming that the option value increases the total project value by 58%.