Optimal timing of relocation

Detalhes bibliográficos
Autor(a) principal: Pereira, José Azevedo
Data de Publicação: 2007
Outros Autores: Couto, Gualter, Nunes, Cláudia
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/24684
Resumo: In this paper we tackle the problem of the optimal relocation policy for a firm that faces two types of uncertainty: one about the moments in which new (and more efficient) sites will become available; and the other regarding the degree of efficiency improvement inherent to each one of these new, yet to be known, potential location places. In particular, we derive results concerning the expected optimal timing for relocation, the corresponding volatility and the value of the firm under the optimal relocation policy. Impacts on the final results driven by the characteristics of the firm´s original location site, the market environment and the way in which risk is modeled, are studied numerically. The overall results are in line with economic intuition
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spelling Optimal timing of relocationGlobalizationRelocationReal OptionsDecision ProblemDouble Poisson ProcessOptimal TimingTruncated-Exponential DistributionGamma DistributionIn this paper we tackle the problem of the optimal relocation policy for a firm that faces two types of uncertainty: one about the moments in which new (and more efficient) sites will become available; and the other regarding the degree of efficiency improvement inherent to each one of these new, yet to be known, potential location places. In particular, we derive results concerning the expected optimal timing for relocation, the corresponding volatility and the value of the firm under the optimal relocation policy. Impacts on the final results driven by the characteristics of the firm´s original location site, the market environment and the way in which risk is modeled, are studied numerically. The overall results are in line with economic intuitionCEEAplARepositório da Universidade de LisboaPereira, José AzevedoCouto, GualterNunes, Cláudia2022-06-27T15:24:36Z20072007-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/24684engPereira, José Azevedo; Gualter Couto and Cláudia Nunes. (2007). “Optimal timing of relocation”. CEEAplA – Centro de Estudos de Economia Aplicada do Atlântico, WP No. 04/2007.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:54:17Zoai:www.repository.utl.pt:10400.5/24684Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:08:40.193676Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Optimal timing of relocation
title Optimal timing of relocation
spellingShingle Optimal timing of relocation
Pereira, José Azevedo
Globalization
Relocation
Real Options
Decision Problem
Double Poisson Process
Optimal Timing
Truncated-Exponential Distribution
Gamma Distribution
title_short Optimal timing of relocation
title_full Optimal timing of relocation
title_fullStr Optimal timing of relocation
title_full_unstemmed Optimal timing of relocation
title_sort Optimal timing of relocation
author Pereira, José Azevedo
author_facet Pereira, José Azevedo
Couto, Gualter
Nunes, Cláudia
author_role author
author2 Couto, Gualter
Nunes, Cláudia
author2_role author
author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Pereira, José Azevedo
Couto, Gualter
Nunes, Cláudia
dc.subject.por.fl_str_mv Globalization
Relocation
Real Options
Decision Problem
Double Poisson Process
Optimal Timing
Truncated-Exponential Distribution
Gamma Distribution
topic Globalization
Relocation
Real Options
Decision Problem
Double Poisson Process
Optimal Timing
Truncated-Exponential Distribution
Gamma Distribution
description In this paper we tackle the problem of the optimal relocation policy for a firm that faces two types of uncertainty: one about the moments in which new (and more efficient) sites will become available; and the other regarding the degree of efficiency improvement inherent to each one of these new, yet to be known, potential location places. In particular, we derive results concerning the expected optimal timing for relocation, the corresponding volatility and the value of the firm under the optimal relocation policy. Impacts on the final results driven by the characteristics of the firm´s original location site, the market environment and the way in which risk is modeled, are studied numerically. The overall results are in line with economic intuition
publishDate 2007
dc.date.none.fl_str_mv 2007
2007-01-01T00:00:00Z
2022-06-27T15:24:36Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/24684
url http://hdl.handle.net/10400.5/24684
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Pereira, José Azevedo; Gualter Couto and Cláudia Nunes. (2007). “Optimal timing of relocation”. CEEAplA – Centro de Estudos de Economia Aplicada do Atlântico, WP No. 04/2007.
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv CEEAplA
publisher.none.fl_str_mv CEEAplA
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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