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dc.contributor.author
Milanesi, Gastón  
dc.contributor.author
Pesce, Gabriela  
dc.contributor.author
El Alabi, Emilio  
dc.date.available
2020-10-20T18:14:23Z  
dc.date.issued
2015-03  
dc.identifier.citation
Milanesi, Gastón; Pesce, Gabriela; El Alabi, Emilio; Strategic asset valuation: A model including asymmetry and kurtosis in its distribution in continuous time; Dimitrie Cantemir Christian University; Academic Journal of Economic Studies; 1; 1; 3-2015; 91-104  
dc.identifier.issn
2393-4913  
dc.identifier.uri
http://hdl.handle.net/11336/116183  
dc.description.abstract
The valuation of real assets is a complex problem which influences the strategic decision making in companies, such as decisions to differing or selling a project. Uncertainty takes over the manager when defining the attributes of the density function representing values that could assume the asset in the future. In this issue, we include not only its mean and variance, but also stochastic higher moments of this function (asymmetry and kurtosis). This paper proposes to valuate this type of entrepreneurships using real options theory making adjustments that allow us to abandon the assumption of normal returns in continuous time. This technique permits the expansion’s coefficient to depend also on the higher moments, either the original distribution or the approach one. Therefore, we obtained theoretical solutions to asset valuations that would have been impossible to solve.  
dc.format
application/pdf  
dc.language.iso
eng  
dc.publisher
Dimitrie Cantemir Christian University  
dc.rights
info:eu-repo/semantics/openAccess  
dc.rights.uri
https://creativecommons.org/licenses/by/2.5/ar/  
dc.subject
ASYMMETRY  
dc.subject
KURTOSIS  
dc.subject
EDGEWORTH EXPANSION  
dc.subject
CONTINUOUS TIME  
dc.subject
REAL OPTION  
dc.subject
FIRM VALUATION  
dc.subject.classification
Negocios y Administración  
dc.subject.classification
Economía y Negocios  
dc.subject.classification
CIENCIAS SOCIALES  
dc.title
Strategic asset valuation: A model including asymmetry and kurtosis in its distribution in continuous time  
dc.type
info:eu-repo/semantics/article  
dc.type
info:ar-repo/semantics/artículo  
dc.type
info:eu-repo/semantics/publishedVersion  
dc.date.updated
2020-10-06T17:50:38Z  
dc.identifier.eissn
2457-5836  
dc.journal.volume
1  
dc.journal.number
1  
dc.journal.pagination
91-104  
dc.journal.pais
Rumania  
dc.journal.ciudad
Bucarest  
dc.description.fil
Fil: Milanesi, Gastón. Universidad Nacional del Sur. Departamento de Ciencias de la Administración; Argentina  
dc.description.fil
Fil: Pesce, Gabriela. Universidad Nacional del Sur. Departamento de Ciencias de la Administración; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca; Argentina  
dc.description.fil
Fil: El Alabi, Emilio. Universidad Nacional del Sur. Departamento de Ciencias de la Administración; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca; Argentina  
dc.journal.title
Academic Journal of Economic Studies  
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://ideas.repec.org/a/khe/scajes/v1y2015i1p91-104.html  
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/http://www.ajes.ro/wp-content/uploads/AJES_article_1_7.pdf