高新技术企业的实物期权识别与选择

在新经济条件下,判定和合理选择实物期权是企业在激烈的竞争中获得成功的关键。由于实物期权产生于资源能力、市场机会及战略的一致性,所以企业首先要通过对自身能力和资源的分析、对市场前景以及竞争对手的分析,来确认企业所拥有的实物期权,然后判定是独占性还是共享性实物期权,以及它的持续时间等因素。在选择实物期权时,管理者应从财务吸引力、战略吸引力等方面对实物期权进行评估和选择。

Identification and Selection of Real Options for High-tech Companies

In the new economy,how to identify and select real options is the key factor for companies to be successful in competing.Real options rely on the matching of resources,capabilities,strategy of the company and market opportunities.The internal resources and capabilities and also the market competition and opportunities should be studied firstly to determine if the real options of the company is privately owned or shared and the lasting duration should be estimated.While selecting the real options,managers should primarily identify and select real options in the perspectives of financial and strategic attraction of real option.