Abstract
According to the features of real options in the process of listing on the GEM, a binomial option price model based on compound real options of listed companies on GME is built. Sensitivity analysis shows that the company listed on time will have the maximum value of compound option, when there is a large cost of delay; the increase of the listing gains volatility and the investment income volatility will increase the option value of listing. It provided the basis of occasion for the companies' public financing on GME.
| Original language | English |
|---|---|
| Pages (from-to) | 643-649 |
| Number of pages | 7 |
| Journal | Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice |
| Volume | 31 |
| Issue number | 4 |
| State | Published - Apr 2011 |
Keywords
- BOPM
- Compound real options
- The value of listing
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