| 房地产定价与公司财务风险度量研究 |
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| 引用本文： | 王升.房地产定价与公司财务风险度量研究[J].华南农业大学学报(社会科学版),2008,7(3):49-56. |
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| 作者姓名： | 王升 |
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| 作者单位： | 华南农业大学经济管理学院,广东,广州,510642 |
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| 基金项目： | 致谢：该文是教育部2007-2008年度资助的“青年骨干教师”国内访问学者计划资助的研究课题《多维欧式期权定价模型研究》的阶段成果. |
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| 摘 要： | 通过Black-Scholes期权定价模型，首次给出了房地产定价与房地产公司负债能力的明确数量关系。根据它们之间的关系发现，房地产的过高定价必然会降低房地产公司的偿债能力，其财务危机将随着房价的增长而逐渐加剧。证明，高房价并不是房地产市场运作的最优策略。
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| 关 键 词： | 房地产定价 财务风险 风险度量 |
Research on House Pricing and Corporate Financial Risk Measurement |
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| WANG Sheng.Research on House Pricing and Corporate Financial Risk Measurement[J].Journal of South China Agricultural University:Social Science Edition,2008,7(3):49-56. |
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| Authors: | WANG Sheng |
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| Institution: | WANG Sheng ( College of Economics and Management, South China Agricultural University, Guangzhou 510642, China) |
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| Abstract: | This paper first gives out a formula of house pricing and a real estate company's debt,based on Black-Scholes option pricing model.According to the formula,over high house pricing would decrease the company's capacity to pay off its debt,and its financial risk would be serious when the house pricing increases.Hence,high house price strategy is not the optimal strategy for running real estate markets. |
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| Keywords: | House pricing financial risk risk measurement |
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