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Delaney, F T and Wamuziri, S C (2002) Corporate profitability in construction and allied industries. Journal of Financial Management of Property and Construction, 7(02), 107–16.

Liow, K H (2002) Corporate real estate in financial statements: The accounting perspective. Journal of Financial Management of Property and Construction, 7(02), 91–6.

McCowan, A and Mohamed, S (2002) A classification of decision support systems (DSSs) for the Analysis and evaluation of concession project investments (CPIs). Journal of Financial Management of Property and Construction, 7(02), 127–37.

Ribeiro, F L and Henriques, P G (2002) The housing property markets in Portugal: analysis and future trends. Journal of Financial Management of Property and Construction, 7(02), 97–106.

Taylor, M D and Wamuziri, S C (2002) Strategic construction mechatronics valuation: a real option-pricing approach. Journal of Financial Management of Property and Construction, 7(02), 75–90.

  • Type: Journal Article
  • Keywords: construction mechatronics; real option-pricing; strategic valuation
  • ISBN/ISSN: 1366-4387
  • URL: http://www.emeraldinsight.com/journals.htm?issn=1366-4387
  • Abstract:
    This paper presents the application real option-pricing theory to the appraisal of advanced construction technology (ACT) investment opportunities. Discounted cash flow appraisal techniques alone do not take into account managerial investment flexibility and neglect timing, abandonment, process switching and sequential strategic growth options. Timing and strategic growth options are valued for hypothetical investment opportunities. Valuable insight into the intrinsic value of investment deferral, optimal expenditure timing and sequential investment opportunities is presented. Real option-pricing analysis provides a technique for amalgamating strategic planning with investment appraisal. The presented methodology does not replace the need for managerial judgement, but may assist technology strategy decision making within construction organisations. Furthermore, the strategic value of construction automation investment may appear more advantageous when appraised using real option-pricing theory.

Yates, D J and Hardcastle, C (2002) The causes of conflict and disputes in construction: a transaction cost economics perspective. Journal of Financial Management of Property and Construction, 7(02), 115–26.