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Type: Artigo de evento
Title: The Effects Of Environmental Studies Requirement On The Investment Decision Process Under Real Options Approach: A Case Study Of Recent Brazilian Petroleum Industry
Author: Lima G.A.C.
Suslick S.B.
Abstract: Investment analysis based solely on the NPV criteria may not always promote an efficient resource allocation because of its inability to incorporate implicit management's options present during the project's life. On the other hand, real options model may produce more realistic results by incorporating value derived from the interaction of uncertainty, irreversibility, and managerial freedom. This paper explores the results of both traditional discounted cash flow and real options models in approaching the problem of delays in the start up of oil production due to additional environmental requirements.
Rights: fechado
Identifier DOI: 
Date Issue: 2002
Appears in Collections:Unicamp - Artigos e Outros Documentos

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