dc.contributor.advisor |
Zhang, Michael Xiaoou, 1973- |
|
dc.coverage.spatial |
Canada |
|
dc.creator |
Xiao, Chris |
|
dc.date.accessioned |
2014-07-24T15:32:29Z |
|
dc.date.available |
2014-07-24T15:32:29Z |
|
dc.date.issued |
2014 |
|
dc.identifier.other |
HG4028 V3 X53 2014 |
|
dc.identifier.uri |
http://library2.smu.ca/xmlui/handle/01/25844 |
|
dc.description |
81 leaves : ill. (chiefly col.) ; 29 cm. |
|
dc.description |
Includes abstract. |
|
dc.description |
Includes bibliographical references (leaves 76-81). |
|
dc.description.abstract |
The traditional discounted cash flow valuation (DCF) has many limitations. In order to compensate for some of those limitations, real option valuations (ROV) have been widely accepted and applied. The popularity of ROV is partly related to its ability to analyze flexibility and uncertainties within various industries. We focused on the mining industry, explored the conditions that enable ROV to outperform DCF, and proposed that under certain conditions, ROV may more accurately reflect the market value of a mining firm. We reviewed the current developments of DCF and ROV models and apply both methods to a real Mergers and Acquisitions (M&A) case - Barrick Gold, a very representative mining firm. By comparing DCF and ROV, we discussed the benefits of ROV in mining industry and the premium of the acquirer’s offer price. In addition, pertinent concepts were identified and explored to enhance the understanding of business issues arisen in M&A. |
en_CA |
dc.description.provenance |
Submitted by Trish Grelot (trish.grelot@smu.ca) on 2014-07-24T15:32:29Z
No. of bitstreams: 1
xiao_chris_masters_2014.pdf: 1564735 bytes, checksum: eb5bd39006cd56f14cc1b07ebd321fdf (MD5) |
en |
dc.description.provenance |
Made available in DSpace on 2014-07-24T15:32:29Z (GMT). No. of bitstreams: 1
xiao_chris_masters_2014.pdf: 1564735 bytes, checksum: eb5bd39006cd56f14cc1b07ebd321fdf (MD5) |
en |
dc.language.iso |
en |
en_CA |
dc.publisher |
Halifax, N.S. : Saint Mary's University |
|
dc.subject.lcc |
HG4028.V3 |
|
dc.subject.lcsh |
Barrick Gold Corp. |
|
dc.subject.lcsh |
Corporations -- Valuation -- Canada |
|
dc.subject.lcsh |
Mineral industries -- Canada -- Finance |
|
dc.subject.lcsh |
Consolidation and merger of corporations -- Canada |
|
dc.subject.lcsh |
Discounted cash flow |
|
dc.subject.lcsh |
Real options (Finance) |
|
dc.title |
Application of option price model in mining industry merge & acquisition |
en_CA |
dc.title.alternative |
Application of option price model in mining industry merge[r] and acquisition |
|
dc.type |
Text |
en_CA |
thesis.degree.name |
Master of Science in Applied Science |
|
thesis.degree.level |
Masters |
|
thesis.degree.discipline |
Finance, Information Systems, & Management Science |
|
thesis.degree.grantor |
Saint Mary's University (Halifax, N.S.) |
|