Nugroho, Lukito Adi - In: Financial innovation : FIN 2 (2016) 11, pp. 1-11
scholars. This study, differing from previous ones, proposes an alternative approach for this hypothesis using a real options … framework with the extension of agency theory. Method: The real options model is built using the least square Monte Carlo method … classical real options call model. This is mainly due to franchise contractual arrangement, where royalty fee lower the …