Analysis of the asset replacement level with an uncertain salvage value : a two-factor model
The aim of this article is to analyse the asset replacement problem from the perspective of optimal replacement level, given a specific tax environment and depreciation policy. Using a real options approach, our model minimizes current operation and maintenance costs and allows the definition of a n...
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| Format: | article |
| Language: | eng |
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2022
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| Online Access: | http://hdl.handle.net/10400.5/24981 |
| Country: | Portugal |
| Oai: | oai:www.repository.utl.pt:10400.5/24981 |