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Issue 5(1), October 2010 -- Paper Abstracts

Girard  (p. 9-22)

Cooper (p. 23-32)

Kunz-Osborne (p. 33-41)

Coulmas-Law (p.42-46)

Stasio (p. 47-56)

Albert-Valette-Florence (p.57-63)

Zhang-Rauch (p. 64-70)

Alam-Yasin (p. 71-78)

Mattare-Monahan-Shah (p. 79-94)

Nonis-Hudson-Hunt (p. 95-106)

JOURNAL OF ACCOUNTING AND FINANCE

A Different Twist to Risk-Value Analysis in the Windy City’s Metro

Commercial Real Estate Market: Stratifying the Modified Internal

Rate of Return within an American Put Option Strategy

Author(s): Steven Lifland

Citation: Steven Lifland, (2011) "A Different Twist to Risk-Value Analysis in the Windy City’s Metro Commercial Real Estate Market: Stratifying the Modified Internal Rate of Return within an American Put Option Strategy" Vol. 11, Iss. 1, pp. 76 - 88

Article Type: Research paper

Publisher: North American Business Press

Abstract:

Two commercial Chicago metro office buildings are valued under the Discounted Cash Flow (DCF) method. This occurs within an American Put Option strategy which broadens the number of acceptable actions for investors. The use of the Modified Internal Rate of Return (MIRR), a technique that is inherently more reliable than the traditional Internal Rate of Return (IRR), is advocated. Further, this paper incorporates Stratifying the MIRR which provides another layer of risk analysis that facilitates project comparisons even where other discounted cash flow methods have led to conflicting results.