Hodnocení investic pomocí reálných opcí v České republice
| Title in English | Quality of evaluation of investment efficiency in the Czech Republic |
|---|---|
| Authors | |
| Year of publication | 2013 |
| Type | Article in Proceedings |
| Conference | Empirický výzkum na KPH ESF MU |
| MU Faculty or unit | |
| Citation | |
| Field | Management and administrative |
| Keywords | Methods for investment evaluation; options; real options; standard evaluation |
| Description | The article deals with methods for the evaluation of investment efficiency in the Czech Republic. First, it gives a brief description of standard methods used for the investment evaluation; the main part of the article then focuses on a comparatively new and, in the Czech Republic, progressive method – real options, which are typical of a turbulent environment characterized by low predictability of the assessment of the economy, which is reflected in a higher rate of risk. Real options are regarded as a complement rather than a substitution for investment evaluation, as follows from an empirical survey. It is advisable to use them in capital demanding industries with a high rate of uncertainty. With globalization, market virtualization and Europeanization moving ahead, they will be expanded and elaborated on. The final part of the article presents up-to-date and partial findings of an extensive empirical survey of investment behaviour of Czech companies immediately before the crisis. The empirical analysis was based on a survey conducted with 332 respondents. As a result of the analysis, a supportive aspect was obtained for finding out the relation between investment and volatility, and the necessity was emphasized of further education and training concerning real options. |
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