Longevity as a Real Option: Valuing Flexibility in Life-Cycle Financial Decisions

Csapi Patrik earned his MSc in Economics in 2012 from the University of Pécs, Faculty of Business and Economics (Corporate Finance and Accounting specialization). He began his PhD studies in 2024 at the Doctoral School of Business Administration at the University of Pécs. His research focuses on assessing the economic and social value of addiction treatment institutions, with particular attention to capturing the impact and social benefits of the services they provide. Since 2012, his professional career has been linked to an addiction treatment institution, where he works in the finance department and contributes to supporting financial operations and management processes. He has held a certified accountant qualification since 2009. In 2016, he obtained a GDPR Officer qualification, and in 2024 he further expanded his professional expertise by earning a Certified Audit Specialist qualification.

Pécs, Hungary. E-mail: csapi.patrik@ktk.pte.hu

Posza Alexandra received her BSc in Business Administration and Management in 2011 from the University of Pécs, Faculty of Business and Economics, and earned her MSc in Finance in 2014. In parallel with her master’s studies, she obtained a certified accountant qualification. She completed her PhD at the University of Pécs Doctoral School of Business Administration in 2021. Since September 2016, she has been affiliated with the Department of Finance and Accounting, first as Assistant Lecturer and, from February 2022, as Assistant Professor. She teaches corporate finance–related courses at higher education vocational, bachelor’s, and master’s levels in both Hungarian and English. Her main research interests include real options and investment theory, as well as ESG (environmental, social, and governance) finance.

Pécs, Hungary. E-mail: poszaa@ktk.pte.hu