The impact of project flexibility on project choice and capital structure

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dc.contributor.advisorGilbert, Evanen_ZA
dc.contributor.authorForbes, Shaunen_ZA
dc.date.accessioned2018-11-06T14:03:38Z
dc.date.available2018-11-06T14:03:38Z
dc.date.issued2013en_ZA
dc.description.abstractThis research highlights the value of Real Options Analysis (ROA) as a process in the evaluation of an oil extraction project in Sub-Saharan Africa. It shows the benefits it can bring to not only the final project evaluation but also to the project design selection process. The research then extends the application of ROA by developing and applying a framework which incorporates the fact that project flexibility has a positive impact on the projects value in the face of downside risk. ROA, by virtue of its explicit cash flow volatility modelling provides a framework for a consideration of the optimal level of project debt. In this case it suggests that the project can carry more debt than would have been acceptable if the more traditional NPV method was used in its evaluation.en_ZA
dc.identifier.apacitationForbes, S. (2013). <i>The impact of project flexibility on project choice and capital structure</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Research of GSB. Retrieved from http://hdl.handle.net/11427/29011en_ZA
dc.identifier.chicagocitationForbes, Shaun. <i>"The impact of project flexibility on project choice and capital structure."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Research of GSB, 2013. http://hdl.handle.net/11427/29011en_ZA
dc.identifier.citationForbes, S. 2013. The impact of project flexibility on project choice and capital structure. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Forbes, Shaun AB - This research highlights the value of Real Options Analysis (ROA) as a process in the evaluation of an oil extraction project in Sub-Saharan Africa. It shows the benefits it can bring to not only the final project evaluation but also to the project design selection process. The research then extends the application of ROA by developing and applying a framework which incorporates the fact that project flexibility has a positive impact on the projects value in the face of downside risk. ROA, by virtue of its explicit cash flow volatility modelling provides a framework for a consideration of the optimal level of project debt. In this case it suggests that the project can carry more debt than would have been acceptable if the more traditional NPV method was used in its evaluation. DA - 2013 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2013 T1 - The impact of project flexibility on project choice and capital structure TI - The impact of project flexibility on project choice and capital structure UR - http://hdl.handle.net/11427/29011 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/29011
dc.identifier.vancouvercitationForbes S. The impact of project flexibility on project choice and capital structure. [Thesis]. University of Cape Town ,Faculty of Commerce ,Research of GSB, 2013 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/29011en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentResearch of GSBen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherDevelopment Financeen_ZA
dc.titleThe impact of project flexibility on project choice and capital structureen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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