"0"^^ . "1"^^ . "Application of Real Options for Pricing Risk Debt as a Put Option"@en . . . . "80-214-2354-4" . . "\u010Cul\u00EDk, Miroslav" . "Application of Real Options for Pricing Risk Debt as a Put Option" . . . "1-6" . . "Nov\u00E9 trendy rozvoje pr\u016Fmyslu" . . "RIV/61989100:27510/02:00007448!RIV/2004/MSM/275104/N" . . "27510" . "6"^^ . "RIV/61989100:27510/02:00007448" . . "638827" . "[A6F11E531074]" . . "Vysok\u00E9 u\u010Den\u00ED technick\u00E9 v Brn\u011B" . . "Application of Real Options for Pricing Risk Debt as a Put Option" . "This article presents a framework for risky debt valuation using option pricing metodology known as a Real Option Analysis. The opportunity to liquidate a firm by either equityholders or debtholders can be modeled as a put option and increases the value of the claims. It will be argued, that the claims on the firm\u00B4s assets, stocks and bonds, contain a put option that will be exercised by the respective holders whenever the liquidation value exceeds the value of their claim in the surviving firm. The contingent claims model, equityholders` and debtholders` bankruptcy decision is described, at the end of the article some illustrative examples are stated."@en . . "Brno" . . "Brno" . . "2002-12-04+01:00"^^ . . "Z(MSM 275100015)" . "put option, debt, equity, Black-Scholes model, bankruptcy,"@en . . . "This article presents a framework for risky debt valuation using option pricing metodology known as a Real Option Analysis. The opportunity to liquidate a firm by either equityholders or debtholders can be modeled as a put option and increases the value of the claims. It will be argued, that the claims on the firm\u00B4s assets, stocks and bonds, contain a put option that will be exercised by the respective holders whenever the liquidation value exceeds the value of their claim in the surviving firm. The contingent claims model, equityholders` and debtholders` bankruptcy decision is described, at the end of the article some illustrative examples are stated." . "0"^^ . "1"^^ . "Application of Real Options for Pricing Risk Debt as a Put Option"@en .