| 中国工商银行的海外布局——基于实物期权视角的案例分析 |
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| 引用本文： | 沈骁智,曾勇.中国工商银行的海外布局——基于实物期权视角的案例分析[J].电子科技大学学报(社会科学版),2014(6):37-41. |
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| 作者姓名： | 沈骁智 曾勇 |
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| 作者单位： | 电子科技大学成都 611731 |
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| 摘 要： | 用实物期权方法分析银行的海外扩张面临许多困难，困难之一就是未来的投资机会难以甄别。通过检视工商银行20年来的海外扩张进程，提炼出三种典型投资机会，指出了其具有的期权特性，并结合＂期权链＂进行了分析，阐释了实物期权理论如何作用于工商银行的海外布局战略。目前，众多中资银行都处于海外扩张的初级阶段，实物期权方法可以给其海外战略提供分析框架，有助于其战略的制定和执行。
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| 关 键 词： | 实物期权 工商银行 海外战略 投资分析 |
Overseas Strategic Layout of ICBC--Case Studies Based on Real Options Perspective |
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| SHEN Xiao-zhi,ZENG Yong.Overseas Strategic Layout of ICBC--Case Studies Based on Real Options Perspective[J].Journal of University of Electronic Science and Technology of China(Social Sciences Edition),2014(6):37-41. |
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| Authors: | SHEN Xiao-zhi ZENG Yong |
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| Institution: | (University of Electronic Science and Technology of China Chengdu 611731 China) |
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| Abstract: | Strategic investment is always regarded as a high-risk and long-period behavior. The real option theory, which takes the value of investment opportunities into consideration, is an appropriate method in analyzing the strategic investment. To discuss how the real options theory can be applied in ICBC＇s overseas layout strategy, we investigate its overseas expansion process during the past 20 years in the perspective of real options theory, conclude three typical investment opporttmities, and analyze their option characteristics with ＂option chains＂. |
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| Keywords: | real options ICBC overseas strategy investment analysis |
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