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The interpretation and valuation of real options by means of options pricing theory can be regarded as a relatively new paradigm of investment theory. Option pricing theory based investment valuation represents a sound theoretical basis and offers principally a simple decision base. The approach recognises entrepreneurial flexibility and risk explicitly. It implies a positive correlation between flexibility respectively uncertainty and the value of options. Traditional deterministic‐dynamic standard methods of valuation are not able to value flexibility or risk effectively so that option values are adequately reflected. As property investors gradually embrace modern financial concepts it is clear that real estate valuation theory will have to change. One of the most promising areas that could have an important implication on the further development of valuation is the application of the real options paradigm. The author investigates the transfer of general real options theory through an examination of academic results in the field of real estate development. He comes to the conclusion that current research generates highly academic‐abstract results with limited practical value. So far a limited number of quantitative studies regarding the valuation real estate projects with the real options method have been conducted. Practical valuations have yet to be comprehensively carried out. For doing so, further research concerning the basic prerequisites of real options theory has to be undertaken.

Abstract
The formulation of strategic plans within the real options framework promotes flexibility and provides an answer to critics of conventional strategic planning who argue that the deterministic and inflexible nature of that process might leave managers ill‐prepared to cope with uncertainty.
Although the merits of adopting real options as a way of thinking on a theoretical level are well documented, little, if any, guidance is given on how the proposed theoretical framework can actually be put into action by management to produce more flexible strategic plans.
This paper attempts to incorporate the real options framework into existing strategic tools that are widely used by managers such as SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis.
Copyright © 2007 John Wiley & Sons, Ltd.

Dieses Handbuch vermittelt einen sehr nützlichen Überblick über verschiedene Strategien, Methoden und Forschungsdesigns in den Sozialwissenschaften, wobei der Autor die Kombination von quantitativen und qualitativen Forschungsmethoden im Sinne eines kritisch-realistischen Paradigmas thematisiert. Den Leser(inne)n wird zunächst ein Überblick über die Debatten zu den verschiedenen Forschungsansätzen – von positivistischen bis zu relativistischen Positionen – gegeben; der Autor setzt sich selbst für einen Ansatz ein, den er als "real world research" bezeichnet. In den folgenden Teilen des Buches erhalten die Leser(innen) eine Einführung in das Design von Untersuchungen, in Methoden der Datenerhebung und schließlich in die Datenanalyse und die Darstellung von Forschungsergebnissen. Während das Buch potenziell ein nützlicher Einführungstext für Noviz(inn)en bzw. eher unerfahrene Forschende sein kann, insbesondere, wenn diese sich für politisch orientierte Forschung interessieren, erscheint es weniger geeignet für stärker spezialisierte Leser(innen) mit anderen disziplinären Schwerpunktinteressen.

In this paper we have suggested a new system for egovernment. In this method a government can design a precise and perfect system to control people and organizations by using five major documents. These documents contain the important information of each member of a society and help all organizations to do their informatics tasks through them. This information would be available by only a national code and a secure program would support it. The suggested system can give a good awareness to the society and help it be managed correctly.

El retorno a la democracia electoral puso fin a las peores formas de censura gubernamental y al uso centralizado de la propaganda. Las nuevas libertades no significaron, sin embargo, un retorno a las políticas nacionales de comunicación en defensa de la autonomía cultural.

A onda de privatizações ocorrida tanto no leste como no ocidente entre os anos 80 e 90, serviu - e serve- para tornar disponíveis aos capitais trasnacionais, empresas, jazidas, recursos, mercadors, antes submetidos ao controle do Estado nacional.