VALUATION OF XTL PLANTS PROJECT INVESTMENT BASED ON REAL OPTIONS THEORY / AVALIAÇÃO DE PROJETOS DE INVESTIMENTO EM PLANTAS XTL UTILIZANDO A TEORIA DE OPÇÕES REAIS

AUTOR(ES)
DATA DE PUBLICAÇÃO

2007

RESUMO

The objective of this dissertation is to value the operational flexibility that a GTL plant can offer at the entrance of the productive process where multiples inputs can be used as row material. Different products also can be produced. The real options theory is considered by the author as the most indicated financial methodology to value theses flexibilities and the main goal of the present study is to value the Input/Output switch option and the mean reversion with jumps stochastic process. The aim of this study is also to support manager´s investment decision from oil and energy field, where others projects has been already valuated with real options theory so the proof of the theory efficiency against traditional valuation methodologies is not object from this study.

ASSUNTO(S)

processo estocastico viabilidade economica stochastic process economic fleasibility teoria das opcoes reais mean reversion motion real option theory movimento de reversao a media

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