Optimal timing of relocation
Autor(a) principal: | |
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Data de Publicação: | 2007 |
Outros Autores: | , |
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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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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1799131181329940480 |