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Applied Financial Economics Volume 21, 2011 - Issue 4
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Original Articles

The real options content of oil producer stocks

Andrew B. Carver Department of Finance and International Business, The College of New Jersey, Ewing, NJ 08628, USACorrespondence[email protected]
&
Matthew Ennis Mount Lucas Management, Newtown, PA 18940, USA
Pages 217-231 | Published online: 15 Nov 2010

References

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  • Andrés-Alonso , P , Azofra-Palenzuela , V and de la Fuenta-Herrero , G . 2006 . The real options component of firm market value: the case of technological corporation . Journal of Business Finance and Accounting , 33 : 203 – 19 .
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  • Canadian National Energy Board (2006) Canada's Oil Sands, Opportunities and Challenges to 2015: An Update. Available at http://www.neb.gc.ca/clf-nsi/rnrgynfmtn/nrgyrprt/lsnd/pprtntsndchllngs20152006/pprtntsndchllngs20152006-eng.pdf (accessed 10 February 2009).
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  • Hull , JC . 1997 . Options, Futures and Other Derivatives, , 3rd , Upper Saddle River, NJ : Prentice-Hall .
  • Merton , R . 1973 . Theory of rational option pricing . Bell Journal of Economics and Management Science , 4 : 141 – 83 .
  • Moel , A and Tufano , P . 2002 . When are real options exercised? An empirical study of mine closings . The Review of Financial Studies , 15 : 35 – 64 .
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  • Trigeorgis , L . 1996 . Real Options: Managerial Flexibility and Strategy in Resource Allocation , Boston : MIT Press .

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