Mostrar el registro sencillo del ítem
Empresas de base tecnológica y teoría de opciones reales: el modelo de los flujos fondos borrosos
dc.creator | Milanés, Gastón | |
dc.date | 2015-10-24 | |
dc.date.accessioned | 2020-08-21T19:45:45Z | |
dc.date.available | 2020-08-21T19:45:45Z | |
dc.identifier | https://revistas.unbosque.edu.co/index.php/cuaderlam/article/view/587 | |
dc.identifier | 10.18270/cuaderlam.v10i18.587 | |
dc.identifier.uri | http://test.repositoriodigital.com:8080/handle/123456789/9868 | |
dc.description | Artículo de investigaciónLas principales características del valor de las empresas de base tecnológica (EBT) son: la flexibilidad estratégica y ambigüedad. La Teoría de Opciones Reales es la herramienta para valorar la flexibilidad mencionada. Los modelos pueden ser probabilísticos o borrosos, estos últimos se adaptan mejor a la falta de información y a las decisiones empresariales en condiciones de ambigüedad. Para valorar EBT se desarrolla el método de los Flujos de Fondos Borrosos (FFB); (Fuzzy Pay-Off Method, FPOM). La estructura del trabajo es la siguiente: primero se presentan los desafíos en la valoración de EBT y los diferentes modelos en la Teoría de Opciones Reales: continuos, discretos y borrosos.Finalmente se desarrolla el modelo FFB y un caso de aplicación | es-AR |
dc.format | application/pdf | |
dc.language | spa | |
dc.publisher | Universidad El Bosque | es-ES |
dc.relation | https://revistas.unbosque.edu.co/index.php/cuaderlam/article/view/587/180 | |
dc.relation | /*ref*/ARNOLD, T; CRACK, T Y SCHWARTZ, A, Implied Binomial Trees in Excel whitout VBA, SSRN: Social Science Research NetWork .2004. | |
dc.relation | /*ref*/ARNOLD, T Y CRACK, T, Real Option Valuation Using NPV, SSRN: Social Science Research Network. 2004. | |
dc.relation | /*ref*/BALIERO FILHO; R Y ROSENFELD,R, Testing Option Pricing with Edgeworth Expansion. Physica A: Statistical Mechanis an its Application, Volumen 344, 2004, pp. 484-490. | |
dc.relation | /*ref*/BANK, M Y WIBMER, K, Start Up Firm Valuation: A Real Option Approach. WP, Austria: University of Innsbruk. 2011. | |
dc.relation | /*ref*/BERNARDO, A Y CHOWDRY, B, Resources, Real Options and Corporate Strategy. Journal of Financial Economics, Issue 63, 2002,pp. 211-234. | |
dc.relation | /*ref*/BLACK, F Y SCHOLES, M, The Pricing of Options and Corporate Liabilities. Journal of Political Economy, Mayo-Junio.1973, pp. 637-659. | |
dc.relation | /*ref*/BOYLE, P., (1988). A lattice framework for option pricing with two state variables. Journal of Finance and Quantitative Analysis, Volumen 23, pp. 1-12. | |
dc.relation | /*ref*/BRANDAO, L; DYER, J Y HAHN, W, Using Binomial Decision Trees to Solve Real Options Valuations Problems. Journal of Decision Analysis, Issue 2, 2005, pp. 69-88. | |
dc.relation | /*ref*/CARLSSON, C Y FULLER, R, On Possibilistic Mean Value and Variance Fuzzy Numbers. Fuzzy Sets and Systems, Issue 122, 2001, pp. 772-777. | |
dc.relation | /*ref*/CARLSSON, C Y FULLER, R, A Fuzzy Approach to Real Option Valuation. Fuzzy Sets and Systems, Issue 139, 2003, pp. 315-326. | |
dc.relation | /*ref*/CARLSSON, C; FULLER, R; HEIKKILA, M Y MAJLENDER,P, A Fuzzy Approach to R&D Project Portfolio Selection.Interntational Journal of Approximating Reasoning, Issue 44, 2007, pp. 93-105. | |
dc.relation | /*ref*/COLLAN, M; FULLÉR, R Y MEZEI, J, Fuzzy Pay-Off Method for Real Option Valuation. Journal of Applied Mathematics and Decision Systems, Volumen Article ID 238196, 2009, pp. 1-14. | |
dc.relation | /*ref*/COPELAND, T Y ANTIKAROV, V, Real Options. 1 ed. New York: Texere LLC.2001. | |
dc.relation | /*ref*/COPELAND, T Y TUFANO, P, A Real World to Manage Real Options. Harvard Business School Review, Issue 82, 2004, pp. 90-99. | |
dc.relation | /*ref*/COX, J; ROSS, S Y RUBINSTEIN, M, Option Pricing: A Simplified Approach. Journal of Financial Economics, Septiembre.1979,pp. 229-263. | |
dc.relation | /*ref*/DATAR, V; MATEWS, S Y JOHNSON, B, A Practical Method for Valuing Real Options: The Boeing Approach. Journal of Applied Corporate Finance, Volumen 19, 2007, pp. 95-104. | |
dc.relation | /*ref*/DATAR, V Y MATHEWS, S, European Real Options: An intuitive Algorithm for the Black-Scholes Formula. Journal of Applied Finance, Volumen 14, 2004,pp. 7-13 | |
dc.relation | /*ref*/DERMAN, E; KANI, I Y CHRISS, N, Implied Trinomial Trees of the Volatility Smile. Quantitative strategies research notes, February. 1996. | |
dc.relation | /*ref*/DIXIT, A Y PINDYCK, R, Investment under Uncertainty. 1 ed. New Jersey: Pricenton University Press. 1994. | |
dc.relation | /*ref*/DUBOIS, D Y PRADE, H, Fuzzy Sets and Systems. New York: Academic Press.1980. | |
dc.relation | /*ref*/FORNERO, R., El Valor de los Proyectos de Inversión con Estimaciones Probabilisticas y Borrosas. XXXII Jornadas Nacionales de Administración Finaciera, Septiembre, Volumen XXXII, 2012, pp. 83-135. | |
dc.relation | /*ref*/FRACICA,N; VACA, P Y SEPÚLVEDA, M, El empresario en el Start Up. Cali Colombia, s.n. 2011. | |
dc.relation | /*ref*/FULLER, R Y MAJLENDER, P, On Weigthed Possibilistic Mean and Variance of Fuzzy Numbers. Fuzzy Sets and Systems, Issue 136, 2003, pp. 363 -374 . | |
dc.relation | /*ref*/HAAHTELA, T., Displaced Diffusion Binomial Tree for Real Option Valuation, SSRN: Social Science Research Network. 2010. | |
dc.relation | /*ref*/HAAHTELA, T., Recombining Trinomial Tree for Real Option Valuation with Changing Volatility. SSRN-Social Science Research Network.2010. | |
dc.relation | /*ref*/HAAHTELA, T., Estimating Changing Volatility in Cash Flow Simulation Based Real Options Valuation with Regression Sum of Squared Error Method, SSRN: Social Science Research Network. 2011 | |
dc.relation | /*ref*/HAUG GAARDER, E., (2007). Derivatives: Models ond Models. 1 ed. Chichester : John Wiley & Sons. 2007. | |
dc.relation | /*ref*/HULL, J., Futures, Options and other Derivatives. 6 ed. New Jersey: Prentice Hall.2006 | |
dc.relation | /*ref*/JABBOUR, G; KRAMIN, M Y YOUNG, S, Two-state Option Pricing: Binomial Models Revisited. Journal of Futures Markets, Noviembre, Volumen 21, 2001, pp. 987-1001. | |
dc.relation | /*ref*/JARROW, R Y RUDD, A, Aproximate option valuation for arbitrary stochastic processes. Journal of Financial Economics, Volumen 10, 1982, pp. 347-369. | |
dc.relation | /*ref*/KAHRAMAN,C; RUAN, D Y TOLGA,E, Capital Budgeting Techniques using Discounted Fuzzy versus Probabilistics Cash Flow. Information Science, Issue 142, 2002, pp. 57-76. | |
dc.relation | /*ref*/KAMRAD, B Y RITCHKEN, P, Multinomial Approximating Models for Options with k State Variables. Management Science, 37(12), 1991, pp. 16 40 -1653. | |
dc.relation | /*ref*/KAUFMANN, A GIL ALUJA, J Y TERCEÑO, A Matemáticas para la Economía y Gestión de Empresas. Barcelona, Foro Científico S.L 1994. | |
dc.relation | /*ref*/KINNUNEN, J., Valuing M&A Synergies as (Fuzzy) Real Options. s.l.:Abo Akedimi University. 2010. | |
dc.relation | /*ref*/LANDRO, A., Acerca de la Probabilidad: La interpretación del concepto de azar y la definición de probabilidad. Buenos Aires: Centro de Investigaciones en Econometría Facultad de Ciencias Económicas UBA. 2010. | |
dc.relation | /*ref*/LAZZARI, L; MACHADO, E Y PÉREZ, R., Teoría de la Decisión Fuzzy. Ediciones Macchi, CABA. 1998.LIAO, S Y HO, S, Investment Project Valuation based on a Fuzzy Bionomial Approach. Information Sciences, Issue 180, 2010, pp. 2124-2133. | |
dc.relation | /*ref*/LIN, B Y HERBST, A, Valuation od Star Up: Business with pending patent using Real Options, s.l.: 2003, disponible http//www.usapr.org/paperspdfs/37.pdf.Feb3 2012 | |
dc.relation | /*ref*/MERTON, R, The Theory of Rational Options Princing. Bell Journal of Economics and Management Science, Primavera.1973, pp. 141-183. | |
dc.relation | /*ref*/MILANESI, G., Opciones Reales: el Método Binomial, Asimetría y Curtosis en la Valoración de Empresas de Base Tecnológica. Revista Española de Capital de Riesgo, Issue 2, 2012,pp. 41-55. | |
dc.relation | /*ref*/MUN, J., Real Options Analysis: Tools and Techniques for Valuing Strategic Investment and Decisions. 1 ed. New York: Wiley.2004. | |
dc.relation | /*ref*/MUZZIOLI, S Y TORRICELLI, A, A Multiperiod Binomial Model for Pricing Options in a Vague World. Journal of Economics and Dynamics Control, Issue 28, 2004, pp. 861-867. | |
dc.relation | /*ref*/RENDLEMAN, R Y BARTTER, B, Two-state Option Pricing. Journal of Finance, Issue 34, 1979, pp. 1092-1110. | |
dc.relation | /*ref*/RUBINSTEIN, M., Implied Binomial Trees. Journal of Finance, 3, Volumen 49, 1994, pp. 771-818. | |
dc.relation | /*ref*/RUBINSTEIN, M., Edgeworth Binomial Trees. Journal of Derivatives, Issue 5, 1998,pp. 20-27. | |
dc.relation | /*ref*/RUBINSTEIN, M., On the Relation Between Binomial and Trinomial Option Pricing Model, California: UC Berkeley.2000. | |
dc.relation | /*ref*/SMIT, H Y TRIGEORGIS, L, Strategic Investment: Real Options and Games. 1 ed. New Jersey(Estados Unidos): Princeton University Press.2004. | |
dc.relation | /*ref*/SMITH, J Y NAU, R, Valuing Risky Projects: Option Pricing Theory and Decision Anaysis. Management Science, Issue 5, 1995,pp. 795-816 SMITH, J., Alternative Approach for Solving Real Options Problems. Decision Analysis, Issue 2, 2005,pp. 89-102. | |
dc.relation | /*ref*/TRIGEORGIS, L., Real Options in Capital Investment: Models, Strategies and Applications. 1 ed. London(United Kindgon): Praeger. 1995. | |
dc.relation | /*ref*/TUNARU, R; CLARK, E Y VINEY, H, An option pricing framework for valuation of football players. Review of Financial Economics, Volumen 14,2005, pp. 281-295. | |
dc.relation | /*ref*/WANG, A Y HALAL, W, Comparision of Real Asset Valuation Models: A Literature Review. International Journal of Business and Management, Issue 5, 2010. pp. 14-24. | |
dc.relation | /*ref*/WILMOTT, P, Frequently Asked Questions in Quantitative Finance. Segunda ed. United Kingdom: John Wiley & Sons.2009. | |
dc.relation | /*ref*/YOSHIDA, Y; YASUDA, M; NAKAGAMI, J Y KURANO, M. A New Evaluation of Mean Value for Fuzzy Numbers and its Application to American Options under Uncertainty. Fuzzy Sets and Systems, Issue 157,2006, pp. 2614-2626. | |
dc.relation | /*ref*/ZADEH, L., Fuzzy Sets. Information Control, 3(8), 1965, pp. 338-353. | |
dc.relation | /*ref*/ZDNEK ZMESKAL, Generalised Soft Binomial American Real Option Pricing Model. European Journal of Operational Research, Issue 207, 2010. pp. 1096-1103 | |
dc.rights | Derechos de autor 2016 Universidad El Bosque | es-ES |
dc.rights | http://creativecommons.org/licenses/by-nc-sa/4.0 | es-ES |
dc.source | Cuadernos Latinoamericanos de Administración; Vol 10 No 18 (2014); 47-55 | en-US |
dc.source | Cuadernos Latinoamericanos de Administración; ##issue.vol## 10 ##issue.no## 18 (2014); 47-55 | es-AR |
dc.source | Cuadernos Latinoamericanos de Administración; Vol. 10 Núm. 18 (2014); 47-55 | es-ES |
dc.source | 2248-6011 | |
dc.source | 1900-5016 | |
dc.source | 10.18270/cuaderlam.v10i18 | |
dc.title | Empresas de base tecnológica y teoría de opciones reales: el modelo de los flujos fondos borrosos | es-AR |
dc.type | info:eu-repo/semantics/article | |
dc.type | info:eu-repo/semantics/publishedVersion |
Ficheros en el ítem
Ficheros | Tamaño | Formato | Ver |
---|---|---|---|
No hay ficheros asociados a este ítem. |