Optimal timing of relocation

Detalhes bibliográficos
Autor(a) principal: Azevedo-Pereira, José
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/10400.3/4761
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 relocationDecision ProblemGlobalizationOptimal TimingReal OptionsIn 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.Universidade dos AçoresRepositório da Universidade dos AçoresAzevedo-Pereira, JoséCouto, GualterNunes, Cláudia2018-06-27T15:54:02Z2007-032007-03-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.3/4761engAzevedo-Pereira, José; Couto, João P. A.; Nunes, Cláudia (2007). Optimal timing of relocation, "Working Paper Series", 4, 25 pp.. Ponta Delgada: Universidade dos Açores, CEEAplA-A.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:RCAAP2022-12-20T14:33:00Zoai:repositorio.uac.pt:10400.3/4761Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:27:07.446521Repositório 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
Azevedo-Pereira, José
Decision Problem
Globalization
Optimal Timing
Real Options
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 Azevedo-Pereira, José
author_facet Azevedo-Pereira, José
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 dos Açores
dc.contributor.author.fl_str_mv Azevedo-Pereira, José
Couto, Gualter
Nunes, Cláudia
dc.subject.por.fl_str_mv Decision Problem
Globalization
Optimal Timing
Real Options
topic Decision Problem
Globalization
Optimal Timing
Real Options
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 2007-03
2007-03-01T00:00:00Z
2018-06-27T15:54:02Z
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/10400.3/4761
url http://hdl.handle.net/10400.3/4761
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Azevedo-Pereira, José; Couto, João P. A.; Nunes, Cláudia (2007). Optimal timing of relocation, "Working Paper Series", 4, 25 pp.. Ponta Delgada: Universidade dos Açores, CEEAplA-A.
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 Universidade dos Açores
publisher.none.fl_str_mv Universidade dos Açores
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
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