公司金融—第五章—风险分析,实物期权,资本预算-精品.pptVIP

Risk Analysis, Real Options, and Capital Budgeting Sensitivity, Scenario, and Break-Even Each allows us to look behind the NPV number to see how stable our estimates are. When working with spreadsheets, try to build your model so that you can adjust variables in a single cell and have the NPV calculations update accordingly. Example: Stewart Pharmaceuticals Stewart Pharmaceuticals Corporation is considering investing in the development of a drug that cures the common cold. A corporate planning group, including representatives from production, marketing, and engineering, has recommended that