| 基于实物期权的BOT项目特许期决策模型研究 |
| |
| 引用本文： | 赵国杰,何涛.基于实物期权的BOT项目特许期决策模型研究[J].北京理工大学学报(社会科学版),2010,12(5):27-30. |
| |
| 作者姓名： | 赵国杰 何涛 |
| |
| 作者单位： | 1.天津大学 管理学院, 天津 300072 |
| |
| 基金项目： | 国家自然科学基金资助项目 |
| |
| 摘 要： | 特许期的确定，是“建造-运营-转移”项目中政府与私人投资集团谈判的主要内容之一。在考虑了单阶段特许期结构下的私人投资者具有等待期权价值，建立包含实物期权价值的特许期决策模型，并将其应用到交通运输基础设施项目的投资决策实践中。与传统的净现值方法的对比分析表明，考虑期权价值后，项目可以在较短的特许期内获得同样的预期收益，为双方的特许权期谈判提供了决策依据。
|
| 关 键 词： | 建造-运营-转移 特许期 实物期权 决策模型 |
| 收稿时间： | 2010/1/22 0:00:00 |
The Research on the Concession Term Decision-Making Model for BOT Projects Based on Real Option |
| |
| ZHAO Guo-jie and HE Tao.The Research on the Concession Term Decision-Making Model for BOT Projects Based on Real Option[J].Journal of Beijing Institute of Technology(Social Sciences Edition),2010,12(5):27-30. |
| |
| Authors: | ZHAO Guo-jie and HE Tao |
| |
| Institution: | 1.School of Management, Tianjin University, Tianjin 300072 |
| |
| Abstract: | The determination of concession term is one of the main contents during the negotiation between the government and private investment group in BOT project.This paper considers the value of deferment option which embedded in the investment process of private investor in the one period Concession Term,establishes a concession term decision model including option value,and then applies this model into a transportation infrastructure project.Through comparing and analyzing with traditional Net Present Value met... |
| |
| Keywords: | build-operation-transfer concession term real option decision model |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
| 点击此处可从《北京理工大学学报(社会科学版)》浏览原始摘要信息 |
| 点击此处可从《北京理工大学学报(社会科学版)》下载免费的PDF全文 |
