Andrés Alonso, Pablo de; Azofra Palenzuela, Valent¡n; … - Programa Interuniversitario de Doctorado en Nuevas … - 2001
The aim of this paper is to examine the notion that the market value of companies reflects the investors? expectations with regard to the value of real options. We test the empirical relation between alternative estimates of the proportion of total firm market value accounted for by the value of...