Browse > Article
http://dx.doi.org/10.5762/KAIS.2010.11.4.1442

An option pricing-based model for evaluating privatized infrastructure projects  

Lee, Sun-Ju (Dept of Business Administration, Chung-Ang University)
Yoo, Shi-Yong (Dept of Business Administration, Chung-Ang University)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.11, no.4, 2010 , pp. 1442-1448 More about this Journal
Abstract
The evaluation of the financial viability of a privatized infrastructure project is complex because of the uncertainties involved due to the project's scale, long concession period and complexity. Use the BOT option valuation(BOT-OV) model, for evaluating the financial analysis of a privatized infrastructure project. This sophisticated for financial evaluation compared with a traditional NPV analysis.
Keywords
BOT-Option Valuation(BOT-OV) Model; Privatized Infrastructure Project;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
연도 인용수 순위
1 Dixit and Pindyck, "Investment Under Uncertainty," Princeton University Press, 1994
2 Hull, C. "Options, Futures, and Other Derivatives," 6th Ed, Prentice-Hall, Englewood Cliffs, NJ, 2006.
3 인천국제공항철도 민간투자사업 사업계획서, 인천국제공항철도 주식회사, 1999.
4 Luehrmam, T. "Investment Opportunities as Real Options: Getting Started on the Numbers," 1998.
5 Ho, S. and L. Liu, An Option Pricing-based Model for Evaluating the Financial Viability of Privatized Infrastructure Projects, 2002.
6 성응현, "몬테칼로 시뮬레이션을 이용한 기술투자 실물옵션평가에 대한 연구," 기술혁신학회지, 2004.
7 김성민, 권용장, "실물옵션을 활용한 G7 한국형고속 전철의 다이나믹 가치평가," 한국철도학회논문집, 2007.