. "This article is focused on a project valuation with embedded portfolio of real options. Portfolio includes selected types of options:option to expand and contract a project and option to shut down a project. First, traditional NPV rule for valuing a project is applied. Then, all the types of supposed options are valued separately and their influence on project value is analysed, in the end, value of project with portfolio of options is calculated. Results of passive and real option approach are compared attention is focused on results comments."@en . "Ocen\u011Bn\u00ED portfolia re\u00E1ln\u00FDch opc\u00ED a jeho vliv na hodnotu projektu"@cs . "1"^^ . . . . . . "2004-09-15+02:00"^^ . "27510" . "Valuing of real options portfolio and its influence on project value" . "P(GA402/04/1357), Z(MSM 275100015)" . . "7"^^ . "[6CBFE3C338C2]" . . . "Brno" . "ento \u010Dl\u00E1nek si klade za c\u00EDl popsat z\u00E1kladn\u00ED ideu metodologie re\u00E1ln\u00FDch opc\u00ED s d\u016Frazem na odli\u0161nost oproti tradi\u010Dn\u00EDm pasivn\u00EDm v\u00FDnosov\u00FDm metod\u00E1m, z\u00E1kladn\u00ED typy re\u00E1ln\u00FDch a mo\u017Enosti jejich ocen\u011Bn\u00ED. V z\u00E1v\u011Bru je provedeno ocen\u011Bn\u00ED projektu s vybran\u00FDmi typy opc\u00ED. Nejprve je ocen\u011Bn projekt na b\u00E1zi pasivn\u00EDho a rizikov\u011B neutr\u00E1ln\u00EDho p\u0159\u00EDstupu a to bez mo\u017Enosti uplatn\u011Bn\u00ED opce. Pot\u00E9 jsou ocen\u011Bny vybran\u00E9 typy opc\u00ED a to nejprve izolovan\u011B a t\u00E9\u017E pro jejich r\u016Fzn\u00E9 kombinace. V\u00FDsledky jsou porovn\u00E1ny a interpretov\u00E1ny."@cs . . "Brno" . "Valuing of real options portfolio and its influence on project value"@en . . . . "Valuing of real options portfolio and its influence on project value" . "592090" . . "80-210-3496-3" . . "56-62" . "Ocen\u011Bn\u00ED portfolia re\u00E1ln\u00FDch opc\u00ED a jeho vliv na hodnotu projektu"@cs . . "RIV/61989100:27510/04:00009564" . "Valuing of real options portfolio and its influence on project value"@en . "\u010Cul\u00EDk, Miroslav" . . . . . "This article is focused on a project valuation with embedded portfolio of real options. Portfolio includes selected types of options:option to expand and contract a project and option to shut down a project. First, traditional NPV rule for valuing a project is applied. Then, all the types of supposed options are valued separately and their influence on project value is analysed, in the end, value of project with portfolio of options is calculated. Results of passive and real option approach are compared attention is focused on results comments." . "RIV/61989100:27510/04:00009564!RIV/2005/GA0/275105/N" . "Mathematical Methods in Economics" . "1"^^ . . "Masarykova univerzita" . . "Real optin;underlying asset;exercise price;intrinsic value;payoff function;risk-neutral;decision function."@en .