Earticle

초록

영어

The purpose of this study is to help decision-makers in the decision-making by applying real option valuation to suit the characteristics of the real estate development business DCF was introduced to supplement. First, select the option model that can be applied in the real estate development business through a survey of the existing literature related to real options analysis. APT development case in order to verify it by applying the DCF and real options valuation. As a result, the real option valuation higher than the DCF, had created high value project with uncertainties can be seen. In this study only considers the options in the form of a single, but with over two options that exist when in fact generally.

목차

Abstract
 1. 서론
  1.1 연구의 배경 및 목적
  1.2 연구의 범위 및 방법
 2. 이론적 고찰
  2.1 현금흐름할인법(DCF)
  2.2 실물옵션
 3. 실물옵션을 이용한 부동산 개발의 가치평가
  3.1 이항모형(Binomial model)
  3.2 실물옵션의 적용방법
 4. 실물옵션의 적용
  4.1 현금흐름할인법을 이용한 가치평가
  4.2 실물옵션을 이용한 가치평가
  4.3 의사결정
 5. 결론
 참고문헌

저자

• 김아영 [ Kim, Ah-Young | 동아대학교 대학원 건축공학과, 석사과정 ]
• 정지현 [ Jung, Ji-Hyun | 동아대학교 대학원 건축공학과, 박사과정 ]
• 이로나 [ Lee, Ro-Na | 동아대학교 건축공학과 겸임교수, 공학박사 ]
• 이학기 [ Lee, Hak-Ki | 동아대학교 건축공학과 교수, 공학박사 ]

참고문헌