| 实物期权在电信投资评价中的应用 |
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| 引用本文： | 李楠,吴洪.实物期权在电信投资评价中的应用[J].北京邮电大学学报(北京邮电大学学报),2005,7(3):44-48,67. |
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| 作者姓名： | 李楠 吴洪 |
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| 作者单位： | 北京邮电大学,经济管理学院,北京,100876 |
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| 摘 要： | 项目投资评价的准确性直接关系到投资的成败,目前在电信企业中常用的传统投资项目评价方法不能体现投资机会及其灵活性的价值,很难适用于评价未来电信市场极其不确定、风险较高的投资项目.本文将实物期权方法引入电信企业网络升级投资评价当中,以期克服传统方法的局限性,提供一种评价电信企业投资项目价值的新思路.
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| 关 键 词： | 实物期权 电信投资 网络升级 投资评价 |
| 文章编号： | 1008-7729(2005)03-0044-05 |
| 收稿时间： | 2005-2-10 |
| 修稿时间： | 2005年2月10日 |
The application of real options in evaluation of investment in telecommunication industry |
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| LI Nan,WU Hong.The application of real options in evaluation of investment in telecommunication industry[J].Journal of Beijing University of Posts and Telecommunications(Social Sciences Edition),2005,7(3):44-48,67. |
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| Authors: | LI Nan WU Hong |
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| Institution: | School of Economics and Management, BUPT, |
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| Abstract: | The accurate evaluation of a project directly affects the success of an investment.Owing to the defects of the conventional method of evaluation,the authors propose the application of real options to assess the investment in the telecommunication industry to support the strategic decisions.In this essay,the value of opportunity,uncertainty and flexibility are taken into account,and the investment in network upgrade used as an example is analyzed by the real options approach. |
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| Keywords: | real options investment in telecommunication industry network upgrade evaluation of investment |
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