Factors influencing the adoption of real option analysis in RED appraisal: an emergent market perspective

References

• Andalib MS, Tavakolan M, Gatmiri B. 2016. Analyzing the barriers influencing the application of real options in the construction industry. Proceedings of the 2016 Construction Research Congress; May 31–June 2, 2016; San Juan, Puerto Rico; p. 1823–1833.
   Google Scholar
• Andrés P, Fuente G, San Martín P. 2015. Capital budgeting practices in Spain. BRQ Bus Res Q. 18(1):37–56.
   Web of Science ®Google Scholar
• Ayodele TO, Olaleye A. 2018. Management of uncertainty in real estate development appraisals: a literature review. JARER. 3(1):94–121.
   Google Scholar
• Baker HK, Dutta S, Saadi S. 2011a. Management views on real options in capital budgeting. J Appl Financ. 21(1):18–31.
   Google Scholar
• Baker HK, Dutta S, Saadi S. 2011b. Corporate finance practices in Canada: where do we stand? MFJ. 15(3/4):157–192.
   Google Scholar
• Bennouna K, Meredith GG, Marchant T. 2010. Improved capital budgeting decision making: evidence from Canada. Manag Decis. 48(2):225–247.
   Web of Science ®Google Scholar
• Block S. 2007. Are “real options” actually used in the real world? Eng Econ. 52(3):255–267.
   Google Scholar
• Bodén B, Åhlén A. 2007. Real option analysis-a study of implementation impediments [bachelor’s thesis]. School of Business, Economics and Law, Göteborg University, Sweden.
   Google Scholar
• Busby JS, Pitts CGC. 1997. Real options in practice: an exploratory survey of how finance officers deal with flexibility in capital appraisal. Manag Account Res. 8(2):169–186.
   Google Scholar
• Carmichael DG, Hersh AM, Parasu P. 2011. Real options estimate using probabilistic present worth analysis. Eng Econ. 56(4):295–320.
   Web of Science ®Google Scholar
• Das TK, Elango B. 1995. Managing strategic flexibility: key to effective performance. J Gen Manag. 20(3):60–70.
   Google Scholar
• Denison CA, Farrell AM, Jackson KE. 2012. Managers’ incorporation of the value of real options into their long‐term investment decisions: an experimental investigation. Contemp Acc Res. 29(2):590–620.
   Web of Science ®Google Scholar
• DeVellis RF. 2012. Scale development: theory and applications. Los Angeles (CA): Sage; p. 109–110.
   Google Scholar
• Dyson R, Oliveira FS. 2007. Flexibility, robustness and real options. Chichester: Wiley; p. 343–366.
   Google Scholar
• Dzyuma U. 2012. Real options compared to traditional company valuation methods: possibilities and constraints in their use. e-Finanse. 8(2):51–68.
   Google Scholar
• Field A. 2005. Reliability analysis. In: Field A. editor. Discovering statistics using SPSS. 2nd ed. London: Sage. Chapter 15.
   Google Scholar
• Ford DN, Lander DM. 2011. Real option perceptions among project managers. Risk Manag. 13(3):122–146.
   Google Scholar
• Horn A, Kjærland F, Molnár P, Steen BW. 2015. The use of real option theory in Scandinavia's largest companies. Int Rev Financial Anal. 41:74–81.
   Web of Science ®Google Scholar
• Kjærland F. 2009. Valuation of generation assets - a real option approach [doctoral thesis]. Bodø Graduate School of Business, Norway.
   Google Scholar
• Krychowski C, Quélin BV. 2010. Real options and strategic investment decisions: can they be of use to scholars? AMP. 24(2):65–78.
   Google Scholar
• Lander DM, Pinches GE. 1998. Challenges to the practical implementation of modeling and valuing real options. Q Rev Econ Finance. 38(3):537–567.
   Google Scholar
• Manganelli B, Tajani F. 2014. Optimised management for the development of extraordinary public properties. J Prop Inv Finance. 32(2):187–201.
   Google Scholar
• Manocha N, Babovic V. 2018. Sequencing infrastructure investments under deep uncertainty using real options analysis. Water.10(2):229–247.
   Web of Science ®Google Scholar
• Mintah K, Higgins D, Callanan J, Wakefield R. 2018. Staging option application to residential development: real options approach. Int J Hous Markts Anal. 11(1):101–116.
   Web of Science ®Google Scholar
• Nnamani OC. 2017. Application of risk management techniques in property development projects in Nigeria: a review. library.eres.org/eres2017/paperupload/P_20170106050949_343.pdf.
   Google Scholar
• Nigerian Institution of Estate Surveyors and Valuers (NIESV). 2015. Directory of members and registered firms. 8th ed. Nigerian Institution of Estate Surveyors and Valuers, Nigeria.
   Google Scholar
• Ogunba OA, Ajayi CA. 2007. The response of Nigerian valuers to increasing sophistication ininvestors’ requirements. J Prop Inv Finance. 25(1):43–61.
   Google Scholar
• Olaleye A. 2008. Property market nature and the choice of property portfolio diversification strategies: the Nigeria experience. Int J Strateg Prop Manag. 12(1):35–51.
   Web of Science ®Google Scholar
• Olapade DT, Olaleye A. 2019. Factors affecting accessibility to property data in an opaque market. Prop Manag. 37(1):82–96.
   Google Scholar
• Pálka P, Knápková A. 2012. Barriers of real options penetration into the capital budgeting processes of Czech companies. Recent Adv Bus Admin. 16:106–111.
   Google Scholar
• Piccirillo E, Noro MG. 2008. Guidebook for supporting decision making under uncertainties: today’s managers, tomorrow’s business. Hackensack, NJ: World Scientific.
   Google Scholar
• Rigopoulos G. 2015. A review on real options utilization in capital budgeting practice. Int J Inform Bus Manag. 7(2):1–16.
   Google Scholar
• Slade ME. 2001. Valuing managerial flexibility: an application of real-option theory to mining investments. J Environ Econ Manag. 41(2):193–233.
   Web of Science ®Google Scholar
• Stålnacke O. 2015. Individual investors’ sophistication and risk and return expectations. Available at SSRN. [accessed 2019 Jan]. https://ssrn.com/abstract=2647239.
   Google Scholar
• Uher TE, Toakley AR. 1999. Risk management in the conceptual phase of a project. Int J Proj Manage. 17(3):161–169.
   Google Scholar
• Verbeeten FH. 2006. Do organizations adopt sophisticated capital budgeting practices to deal with uncertainty in the investment decision? A research note. Manag Account Res. 17(1):106–120.
   Google Scholar
• Yeo C. 2012. Primer on risk analysis, decision making under uncertainty. Boca Raton (FL): CRC.
   Google Scholar