PENENTUAN KELAYAKAN PERUSAHAAN PASANGAN USAHA PADA INVESTASI MODAL VENTURA MENGGUNAKAN ANALISIS OPSI RIIL; DETERMINATION INVESTEE COMPANY’S ELIGIBILITY FOR A VENTURE CAPITAL INVESTMENT USING REAL OPTION ANALYSIS

Utami, Nurul Aini, Abdurakhman

2016 | Skripsi | FMIPA

Venture capital is an investment in the form of equity participation into a private company as a bussiness partner for specified period. Venture capitalis have a high risk, however it also give a high returns. Venture capitalists is an investor who invest in the venture capital company. Generally, venture capitalist have a right as a determinant of company policies based on the number of shares they own. However, a venture capitalist often find it difficult to make a decision about funding to a company because the uncertainty of the company projects will be success or not in the future. Real option analysis can get over the uncertainty in the future that venture capitalists have faced to make a decision about loan. Real option analysis is the application of option price calculation technique for capital budgeting decisions. Venture Capital will use this option to considering the feasibility of a company to obtain a loan. Option are being used is compound option with some volatility. The claim value calculating from that option done by decreasing two general formula from Black and Scholes (1973) and Geske (1979).

Kata Kunci : real option analysis, compound option with some volatility, Black Scholes option.