메뉴 건너뛰기




Volumn 20, Issue 5, 2002, Pages 512-526

Stock market valuation with real options: Lessons from Netscape

Author keywords

Competitive advantage period; Real options; Stock market valuation; Volatility

Indexed keywords


EID: 0036798828     PISSN: 02632373     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0263-2373(02)00102-0     Document Type: Article
Times cited : (11)

References (28)
  • 1
    • 0003101059 scopus 로고    scopus 로고
    • Strategy and shareholder value creation: The real options frontier
    • Amram, M. and Kulatilaka, N. (2000) Strategy and shareholder value creation: the real options frontier. Journal of Applied Corporate Finance 13(2), 15-28.
    • (2000) Journal of Applied Corporate Finance , vol.13 , Issue.2 , pp. 15-28
    • Amram, M.1    Kulatilaka, N.2
  • 3
    • 0004062507 scopus 로고
    • Accounting-based valuation models: Evidence on the market-to-book anomaly and implications for financial statements analysis
    • Working paper, University of Michigan
    • Bernard, V. (1994) Accounting-based valuation models: evidence on the market-to-book anomaly and implications for financial statements analysis. Working paper, University of Michigan.
    • (1994)
    • Bernard, V.1
  • 4
    • 0000847992 scopus 로고
    • The valuation of option contracts and a test of market efficiency
    • Black, F. and Scholes, M. (1972) The valuation of option contracts and a test of market efficiency. Journal of Finance 27, 399-418.
    • (1972) Journal of Finance , vol.27 , pp. 399-418
    • Black, F.1    Scholes, M.2
  • 5
    • 0010998535 scopus 로고    scopus 로고
    • The financial analysis of foreign investment decisions by large UK-based companies
    • Buckley, A., Buckley, P., Langevin, P. and Tse, K.L. (1996) The financial analysis of foreign investment decisions by large UK-based companies. European Journal of Finance 2(2), 181-206.
    • (1996) European Journal of Finance , vol.2 , Issue.2 , pp. 181-206
    • Buckley, A.1    Buckley, P.2    Langevin, P.3    Tse, K.L.4
  • 6
    • 0030167094 scopus 로고    scopus 로고
    • Real operating options and foreign direct investment: A synthetic approach
    • Buckley, A. and Tse, K.L. (1996) Real operating options and foreign direct investment: a synthetic approach. European Management Journal 14(3), 304-314.
    • (1996) European Management Journal , vol.14 , Issue.3 , pp. 304-314
    • Buckley, A.1    Tse, K.L.2
  • 7
    • 0004197273 scopus 로고    scopus 로고
    • Assessing Flexibility in Capital Investment: A Guide to Applying Real Options Principles in Investment Appraisal
    • The Chartered Institute of Management Accountants, London
    • Busby, J.S. and Pitts, C.G.C. (1998) Assessing Flexibility in Capital Investment: A Guide to Applying Real Options Principles in Investment Appraisal. The Chartered Institute of Management Accountants, London.
    • (1998)
    • Busby, J.S.1    Pitts, C.G.C.2
  • 8
    • 0011045526 scopus 로고    scopus 로고
    • Dot.con: The Greatest Story Ever Told
    • Allen-Lane, The Penguin Press, London
    • Cassidy, J. (2002) Dot.con: The Greatest Story Ever Told. Allen-Lane, The Penguin Press, London.
    • (2002)
    • Cassidy, J.1
  • 12
    • 0010996563 scopus 로고    scopus 로고
    • Presentation slide entitled 'The Exclusivity Requirement in Option Value'
    • www.stern.nyu.edu/adamodar/
    • Damodaran, A. (2001) Presentation slide entitled 'The Exclusivity Requirement in Option Value'. www.stern.nyu.edu/adamodar/
    • (2001)
    • Damodaran, A.1
  • 14
    • 84993845943 scopus 로고
    • Size and book-to-market factors in earnings and returns
    • Fama, E.F. and French, K.R. (1995) Size and book-to-market factors in earnings and returns. Journal of Finance 50, 131-155.
    • (1995) Journal of Finance , vol.50 , pp. 131-155
    • Fama, E.F.1    French, K.R.2
  • 15
    • 21144467198 scopus 로고
    • Returns to E/P strategies, higgledy piggledy growth analysts' forecast errors, and omitted risk factors
    • Winter
    • Fuller, R., Huberts, L. and Levinson, M. (1993) Returns to E/P strategies, higgledy piggledy growth analysts' forecast errors, and omitted risk factors. Journal of Portfolio Management, Winter.
    • (1993) Journal of Portfolio Management
    • Fuller, R.1    Huberts, L.2    Levinson, M.3
  • 16
    • 0010999287 scopus 로고    scopus 로고
    • Two sides of capitalism
    • March 12
    • Kay, J. (2002) Two sides of capitalism. Financial Times, March 12.
    • (2002) Financial Times
    • Kay, J.1
  • 18
    • 0032161417 scopus 로고    scopus 로고
    • Strategy as a portfolio of real options
    • Luehrman, T.A. (1998) Strategy as a portfolio of real options. Harvard Business Review 76(5), 89-99.
    • (1998) Harvard Business Review , vol.76 , Issue.5 , pp. 89-99
    • Luehrman, T.A.1
  • 19
    • 0031503561 scopus 로고    scopus 로고
    • Competitive advantage period: The neglected value driver
    • Mauboussin, M. and Johnson, P. (1997) Competitive advantage period: the neglected value driver. Financial Management 26(2), 67-74.
    • (1997) Financial Management , vol.26 , Issue.2 , pp. 67-74
    • Mauboussin, M.1    Johnson, P.2
  • 20
    • 0002857442 scopus 로고
    • Scientific management at Merck: An interview with CFO Judy Lewent
    • Nichols, N.A. (1994) Scientific management at Merck: an interview with CFO Judy Lewent. Harvard Business Review 72(1), 92.
    • (1994) Harvard Business Review , vol.72 , Issue.1 , pp. 92
    • Nichols, N.A.1
  • 22
    • 0012843775 scopus 로고    scopus 로고
    • The Internet Bubble
    • Harper Business, New York
    • Perkins, A.B. and Perkins, M.C. (2001) The Internet Bubble. Harper Business, New York.
    • (2001)
    • Perkins, A.B.1    Perkins, M.C.2
  • 24
    • 85018960167 scopus 로고    scopus 로고
    • The power of real options
    • Risk available on www.risk.net/backissues
    • Risk (2000) The power of real options. Risk, 13(8), available on www.risk.net/backissues
    • (2000) Risk , vol.13 , Issue.8
  • 25
    • 0002623715 scopus 로고    scopus 로고
    • Rational pricing of Internet companies
    • Schwartz, E.S. and Moon, M. (2000) Rational pricing of Internet companies. Financial Analysts' Journal 56(3), 62-75.
    • (2000) Financial Analysts' Journal , vol.56 , Issue.3 , pp. 62-75
    • Schwartz, E.S.1    Moon, M.2
  • 26
    • 0011031764 scopus 로고    scopus 로고
    • Internet stocks as phantastic objects: A psycho-analytic interpretation of dot.com mania
    • Unpublished paper read at the Annual Conference of the British Accounting Association, Jersey, April 3
    • Taffler, R.J. and Tuckett, D.A. (2002) Internet stocks as phantastic objects: a psycho-analytic interpretation of dot.com mania. Unpublished paper read at the Annual Conference of the British Accounting Association, Jersey, April 3.
    • (2002)
    • Taffler, R.J.1    Tuckett, D.A.2
  • 28
    • 0010948680 scopus 로고    scopus 로고
    • DCF vs real options: How best to value online financial companies (with an application to Egg)
    • Case Study, INSEAD. Case study reference 201-031-1
    • Wildberger, K. and Georgeson, H. (2001) DCF vs real options: how best to value online financial companies (with an application to Egg). Case Study, INSEAD. Case study reference 201-031-1
    • (2001)
    • Wildberger, K.1    Georgeson, H.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.