公司理财的推广与应用(英文版)(ppt 31页).pptVIP

Executive Summary This chapter extends the analysis of options contained in Chapter 22. We describe four types of options found in common corporate finance decisions. Executive stock options The option to expand embedded in a start-up. The option in simple business contracts. The option to shut down and reopen a project. Chapter Outline 23.1 Executive Stock Options 23.2 Valuing a Start Up 23.3 More on the Binomial Model 23.4 Shutdown and Reopening Decisions 23.5 Summary and Conclusions 23.1 Executive Stock Options Executive Stock Options exist to align the interests of shareholders and manag