The fund will enable the government to finance new infrastructure projects with the resources obtained from new concessionaires’ payments to the government for the value of retendering existing public-private partnership (PPP) projects. Recently, the Chilean government created the Chilean Infrastructure Fund (CIF) that will allow taking advantage of the value of existing infrastructure assets. Empirically, this work contributes to doing an ex-post analysis of the projects. Originality/value-Theoretically, this work contributes to identify the characteristics that effectively differentiate ROT from NPV at the time of decision making. Research limitations/implications-The limitations of this study refer to the difficulties of identifying the reasons that motivated failures in the projects. It was also found that the degree of agreement between the two techniques is substantial and determined by the level of volatility of real options. Findings-It was concluded that NPV is more effective for recommendations to invest in projects with chances to be successful, while ROT is more accurate in suggesting against investing in projects with propensity for failure. For data analysis, the confusion matrix, the area under the ROC Curve and the Kappa Index were used. Design/methodology/approach-This is a quantitative study that used real data from 150 wind power and 94 photovoltaic projects available on ANEEL´s website. Purpose-This work aims to analyze the assertiveness of net present value (NPV) and real options theory (ROT), at the moment of decision making for investments in renewable energy projects, considering the 244 winning projects in the auctions of reserve energy that occurred between 20. In this particular case the reactive CSR strategy relates to waiting as an outcome of a planned choice. Additionally, the article shows that decision-making is a fundamental part of managerial functions and whether the situation is considered as a structured or unstructured problem will determine the action to be taken. In addition, it shows that despite the criticism that the use of reactive CSR strategies may arouse, they have a positive impact on the market when used at the right time in companies that do not have a brand positioning closely linked to CSR. The study illustrates Facebook’s reactive CSR policy and also demonstrates that RO can be used serve to hedge market risk (systematic risk), just like their equivalents in the financial markets but also to hedge business risks (non-systematic risk). Its main goals are to determine the role of RO methodology as a business risk hedging function on reactive CSR strategies and to analyse whether the application of RO adds value to companies with reactive CSR strategies. "About this title" may belong to another edition of this title.The present research values reactive corporate social responsibility (CSR) policies using the theory of Real Options (RO). Multiple Choices: Optimal Pollution Compliance Strategy at the Southern Company. Delayed Response to Decisions: "Fab Shells" at Intel. Optimal Abandonment Strategy: Closing a Money-Losing Foreign Subsidiary at Mead Johnson ? An Application with Foreign Exchange Risk. Value Erosion that Triggers Early Exercise: An Option on a Tax Credit Investment at Koch Industries. The "Traditional" Look of Convenience Yield: An Option to Develop a Coal Mine. More On Arbitrage Valuation in the Binomial Model: Early Exercise of Options, Convenience Yield, and Value Erosion. Multi-Staged Investments with Technical (or Private) Risk: Early-Stage Pharmaceutical R&D, and the Interaction of Market and Technical Risk. Multi-Staged Investments: The Staged Roll-Out of Wal-Mart Neighborhood Markets. Platform Investments: How Much Are You Willing To Lose in the Name of "Strategy"? A Lesson on Volatility Estimation. Research and Development: Valuing the Preliminary Design of a Super-Jumbo Jet at Boeing. Valuation by Arbitrage in the Binomial Model.
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