실물옵션가치를 이용한 철도기술 가치평가에 관한 연구

Increasing number of transactions and investments in technology has sparked a growing interest in technology valuation. However, it has not been easy to come up with an objective valuation of technology due to variance in technology value, purpose of valuation, and technology patterns. The central paradigm for making decisions about large technology investments is net present value. Unfortunately, it is badly flawed and systematically under values every investment opportunity. The main objective of this paper lies in the development of a new approach for technology valuation using the Real Option Valuation.