المفاضلة بين نظرية الخيارات الحقيقية و صافي القيمة الحالية عند تقييم المشاريع الاستثمارية : دراسة تطبيقية لمشروع إنتاج وضخ الغاز الطبيعي للشبكة الكهربائية

Abstract EN

The main purpose of the current study is to detect differences between the traditional tools and modern tools when evaluating investment projects usual practice to use traditional financial instruments as discounted cash flow, including the net present value or internal rate of return and the index of profitability and other techniques, Where are implemented and the acceptance of investment projects when using these techniques without taking into account the real value of its financial assets unlike the concept of real options theory that have emerged as approach more accurate than the previous financial techniques to avoid for most of the criticism directed to the previous methods.

Researchers continue to search for another techniques by which to evaluating investment projects to reach results are more accurate , it was real options theory as an alternative to other techniques , which has been applied in the current study through the selection of an investment project in the very important within the field of gas industry in Iraq , It project of production and pumping gas for electric grid within the Basra Gas Company projects , this study was to explain the amount of the difference between the traditional financial techniques as NPV technique and modern technologies as the theory of Real Options when the evaluation of investment projects