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Paul Smoke. Watanabe, Nobuhide, 1967- Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. Massachusetts Institute of Technology. Department of Urban Studies and Planning 2005-05-19T14:27:43Z 2005-05-19T14:27:43Z 2000 2000 http://hdl.handle.net/1721.1/16750 47917856 Thesis (S.M. in Urban Studies and Planning; and, S.M. in Real Estate Development)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2000. Includes bibliographical references (leaves 56-57). This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. A methodology in determining the financial values (business values) of physical infrastructure projects is presented from the public point of view. The business valuation model in this thesis adopts three concepts of financial modeling, Monte Carlo simulation (probability-generated cash flow), Capital Asset Pricing Model, and Adjusted Present Value. Using this model, the business values of a hypothetical infrastructure project are simulated 1,000 times and the mean business value is analyzed in terms of patterns and magnitudes of the simulation. The results from the 1,000 simulations showed large differences between the value derived by this model and those by the traditional net present value method. Also, this model elucidated qualitative information on how levels of government’s financial support such as subsidies, tax incentives and revenue guarantees will affect the project’s business value by components. The model elucidated, as well, the qualitative information on how project’s contractual framework may affect the business value when private contractors bear key uncertain risks, such as demand changes and construction cost overruns. by Nobuhide Watanabe. S.M. in Urban Studies and Planning|S.M. in Real Estate Development 84 p. 584417 bytes 584173 bytes application/pdf application/pdf eng Massachusetts Institute of Technology M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582 Urban Studies and Planning. Business valuation of location-specific infrastructure projects in data-poor regions Thesis application/pdf Publication unknown unknown <Publication xmlns="https://www.openaire.eu/cerif-profile/1.1/" id="ce9a5000-7782-40fd-88e8-19599cda2b21"> <Type xmlns="https://www.openaire.eu/cerif-profile/vocab/COAR_Publication_Types">http://purl.org/coar/resource_type/c_1843</Type> <Language>eng</Language> <Title>Business valuation of location-specific infrastructure projects in data-poor regions</Title> <PublishedIn> <Publication> </Publication> </PublishedIn> <PublicationDate>2000</PublicationDate> <Authors> <Author> <DisplayName>Watanabe, Nobuhide, 1967-</DisplayName> <Affiliation> <OrgUnit> </OrgUnit> </Affiliation> </Author> </Authors> <Editors> </Editors> <Publishers> <Publisher> <DisplayName>Massachusetts Institute of Technology</DisplayName> <OrgUnit /> </Publisher> </Publishers> <License>http://dspace.mit.edu/handle/1721.1/7582</License> <Keyword>Urban Studies and Planning.</Keyword> <Abstract>A methodology in determining the financial values (business values) of physical infrastructure projects is presented from the public point of view. The business valuation model in this thesis adopts three concepts of financial modeling, Monte Carlo simulation (probability-generated cash flow), Capital Asset Pricing Model, and Adjusted Present Value. Using this model, the business values of a hypothetical infrastructure project are simulated 1,000 times and the mean business value is analyzed in terms of patterns and magnitudes of the simulation. The results from the 1,000 simulations showed large differences between the value derived by this model and those by the traditional net present value method. Also, this model elucidated qualitative information on how levels of government’s financial support such as subsidies, tax incentives and revenue guarantees will affect the project’s business value by components. The model elucidated, as well, the qualitative information on how project’s contractual framework may affect the business value when private contractors bear key uncertain risks, such as demand changes and construction cost overruns.</Abstract> <Access xmlns="http://purl.org/coar/access_right" > </Access> </Publication>