Chen, Z., H. Yang, S. Zhang——Journal of Systems Science and Systems Engineering: Pricing for Corporate Property Rights Transfer with Stochastic Markets
时间:2013-03-22
his paper employs the real option theory to develop a pricing model for the transfer of property rights.We list the conditions for the good,intermediate and bad firms respectively,and work out the closed-form solution to the equilibrium transfer price,the optimal transfer timing.Using the comparative static analysis,we find that for good firms the transfer price of the target is increasing in its capital.The higher the capital of the target owns,the faster it will be transferred.For intermediate