Start-up Valuation of Biotech Companies with Real Options A case study of the start-up Organovo Holdings, Inc. written by Celine Göbel Abstract: This master thesis examines several valuations methods for young companies. Start-ups are generally characterised by negative earnings, pure equity financing and binary business models THE GUARANTEE OF PRODUCTS’ UNIQUENESS. Our writers (experts, masters, bachelor, and doctorate) write all the papers from scratch Master Thesis Real Options and always follow the instructions of the Master Thesis Real Options client to the blogger.com the order is completed, it is verified that each copy that does not present plagiarism with the latest software to ensure that it is This thesis investigates the application of real options to the design of major civil works. Specifically, it examines several methods to value the options, to determine which are
A Real-Options approach to company valuation - University of Twente Student Theses
Morán Villar, Pablo A game theoretic real master thesis real options approach to corporate acquisitions : theory and evidence. Masters thesis, Concordia University. The phenomenon of corporate acquisitions has been the subject of extensive research, but despite important advances in our understanding of these corporate events, many issues are still unclear.
Even though this literature has been one of the most important recent developments in finance and economics, the application of its lessons to corporate acquisitions is still scarce.
Using a game theoretic real option framework, we develop a model of corporate acquisitions. We incorporate imperfect information about synergy gains, strategic interaction among competing bidders, and between the acquirer and the target firm.
Assuming the absence of managerial motives, the model is able to explain some empirical regularities that, master thesis real options, thus far, have only been explained under the agency and hubris hypotheses. The undervaluation, asymmetric distribution of gains, and divestiture phenomena are natural results in our model. In a preliminary empirical test we find support for the prediction relating target gains to the target's undervaluation and volatility.
Even though we do not intend to replace other competing theories of corporate acquisitions, we believe our model represents a valid alternative hypothesis that could help to improve our understanding of some stylized facts, master thesis real options. The many still unexplored predictions from our model are an interesting area for future research.
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Real Options Valuation, Inc.
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