USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP

  In this work, the Real Options Theory was used to analyze the feasibility of opening a new point of sale that included a managerial flexibility to the project. This flexibility was illustrated by the possibility of a point-of-sale exchange after the opening of a shopping mall without burd...

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Principais autores: Paiva, Fernando Akio, Jorge, Ricardo Reolon, de Andrade, Alexandre Acácio, Junger, Alex Paubel, Blumetti Facó, Júlio Francisco
Formato: Online
Idioma:por
Publicado em: Max Leandro de Araújo Brito
Endereço do item:https://periodicos.ufrn.br/casoseconsultoria/article/view/22876
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spelling oai:periodicos.ufrn.br:article-228762021-09-19T14:44:52Z USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP UTILIZAÇÃO DA TEORIA DAS OPÇÕES REAIS EM ESTUDO DE CASO PARA AVALIAÇÃO DE TROCA DE PONTO DE VENDA PARA LOJA DE VAREJO EM SHOPPING CENTER Paiva, Fernando Akio Jorge, Ricardo Reolon de Andrade, Alexandre Acácio Junger, Alex Paubel Blumetti Facó, Júlio Francisco Teoria das Opções Reais. VPL. Análise de investimento. Estratégia de Negócio. Real Option Valuation / Theory. NPV. Investment analysis. Business strategy.   In this work, the Real Options Theory was used to analyze the feasibility of opening a new point of sale that included a managerial flexibility to the project. This flexibility was illustrated by the possibility of a point-of-sale exchange after the opening of a shopping mall without burden on the increase of the square meter and / or contractual fine. In order to determine the value of this option, option of point exchange and increase of scale, the binomial method was used in a case study applied to a Brazilian company in the retail sector. The cash flows of the scenarios of the base case and the expanded case were prepared according to the internal premises of the company studied and then applied to the binomial model. The NPV calculated initially proved to be negative but when it had its value expanded by TOR it reached a positive value, changing the initial investment scenario. This work aimed to demonstrate not only the value of the option in general, but also to determine the maximum premium to be paid in a point of sale exchange option within a shopping mall and its competitive advantages. The maximum award was found for this case study, reaching the objectives of the work.   Neste trabalho, utilizou-se a Teoria das Opções Reais para analisar a viabilidade da abertura de um novo ponto de venda que incluísse uma flexibilidade gerencial ao projeto. Essa flexibilidade foi ilustrada pela possibilidade de troca de ponto de venda após a inauguração de um shopping center sem ônus no aumento do valor do metro quadrado e/ou multa contratual. Para determinar o valor desta opção, opção de troca de ponto e aumento da escala, utilizou-se o método binomial em um estudo de caso aplicado a uma empresa brasileira do setor varejista. Foram preparados os fluxos de caixa dos cenários do caso base e do caso expandido, segundo as premissas internas da empresa estudada, e então aplicados ao modelo binomial. O VPL calculado inicialmente revelou-se negativo, mas quando teve seu valor expandido pela TOR atingiu um valor positivo, mudando o cenário de investimento inicial. Este trabalho pretendeu demonstrar não somente o valor da opção de forma geral, mas também determinar o prêmio máximo a ser pago numa opção de troca de ponto de venda dentro de um shopping center e suas vantagens competitivas. O prêmio máximo foi encontrado, para este estudo de caso, atingindo os objetivos do trabalho. Max Leandro de Araújo Brito 2017-09-13 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://periodicos.ufrn.br/casoseconsultoria/article/view/22876 Revista de Casos e Consultoria; v. 8 n. 4 (2017); e841 2237-7417 por https://periodicos.ufrn.br/casoseconsultoria/article/view/22876/13309
institution Periódicos UFRN
collection Portal de Pediódicos Eletrônicos da UFRN
language por
format Online
author Paiva, Fernando Akio
Jorge, Ricardo Reolon
de Andrade, Alexandre Acácio
Junger, Alex Paubel
Blumetti Facó, Júlio Francisco
spellingShingle Paiva, Fernando Akio
Jorge, Ricardo Reolon
de Andrade, Alexandre Acácio
Junger, Alex Paubel
Blumetti Facó, Júlio Francisco
USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP
author_facet Paiva, Fernando Akio
Jorge, Ricardo Reolon
de Andrade, Alexandre Acácio
Junger, Alex Paubel
Blumetti Facó, Júlio Francisco
author_sort Paiva, Fernando Akio
title USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP
title_short USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP
title_full USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP
title_fullStr USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP
title_full_unstemmed USE OF THE THEORY OF REAL OPTIONS IN A CASE STUDY FOR EVALUATION OF EXCHANGE OF POINT OF SALE TO SHOPPING CENTER RETAIL SHOP
title_sort use of the theory of real options in a case study for evaluation of exchange of point of sale to shopping center retail shop
description   In this work, the Real Options Theory was used to analyze the feasibility of opening a new point of sale that included a managerial flexibility to the project. This flexibility was illustrated by the possibility of a point-of-sale exchange after the opening of a shopping mall without burden on the increase of the square meter and / or contractual fine. In order to determine the value of this option, option of point exchange and increase of scale, the binomial method was used in a case study applied to a Brazilian company in the retail sector. The cash flows of the scenarios of the base case and the expanded case were prepared according to the internal premises of the company studied and then applied to the binomial model. The NPV calculated initially proved to be negative but when it had its value expanded by TOR it reached a positive value, changing the initial investment scenario. This work aimed to demonstrate not only the value of the option in general, but also to determine the maximum premium to be paid in a point of sale exchange option within a shopping mall and its competitive advantages. The maximum award was found for this case study, reaching the objectives of the work.
publisher Max Leandro de Araújo Brito
publishDate 2017
url https://periodicos.ufrn.br/casoseconsultoria/article/view/22876
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