第二十三章期权与公司理财：推广与应用.pptxVIP

Executive SummaryThis chapter extends the analysis of options contained in Chapter 22.We describe four types of options found in common corporate finance decisions.Executive stock optionsThe option to expand embedded in a start-up.The option in simple business contracts.The option to shut down and reopen a project.Chapter Outline23.1 Executive Stock Options23.2 Valuing a Start Up23.3 More on the Binomial Model23.4 Shutdown and Reopening Decisions 23.5 Summary and Conclusions23.1 Executive Stock OptionsExecutive Stock Options exist to align the interests of shareholders and managers.Executive S