Abstract
A combination approach based on real option and CAPM model is presented for illuminating the value of staging investment in early-stage-high-technology growth-oriented companies. Process of staging risk investment has been simulated by Cossin's mix option model, supplemented investment triggers and investment cost has been obtained. Compared with one-off investment, it is evident that staging investment cost is lower than that of one-off investment and as well as risk.
| Original language | English |
|---|---|
| Pages (from-to) | 38-43 |
| Number of pages | 6 |
| Journal | Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice |
| Volume | 28 |
| Issue number | 8 |
| State | Published - Aug 2008 |
Keywords
- CAPM model
- Real option
- Staging investment
- Triggers
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