| 实物期权方法在新技术投资中的应用 |
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| 引用本文： | 段善雨,彭大衡,刘红.实物期权方法在新技术投资中的应用[J].湖南工程学院学报(社会科学版),2005,15(2):14-15. |
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| 作者姓名： | 段善雨 彭大衡 刘红 |
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| 作者单位： | 湖南大学,统计系,湖南,长沙,410079;湖南大学,统计系,湖南,长沙,410079;湖南大学,统计系,湖南,长沙,410079 |
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| 摘 要： | 新技术投资是在技术进步的基础上以最终提供新的产品为手段,实现资本收益最大化的投资活动。它的风险收益具有很大的不确定性。传统的投资决策分析方法(NPV法)往往会低估项目价值,存在很大的缺陷与不足。引入实物期权理论,建立新技术投资的期权评价模型,将使新技术投资项目评价更加符合客观实际。
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| 关 键 词： | 新技术投资 实物期权 净现值法 |
| 文章编号： | 1671-1181(2005)02-0014-02 |
| 修稿时间： | 2004年11月20 |
The Application of Real Option Method in New Technology Investment |
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| DUAN Shan-yu,PENG Da-heng,LIU Hong.The Application of Real Option Method in New Technology Investment[J].Journal of Hunan Institute of Engineering(Social Science Edition),2005,15(2):14-15. |
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| Authors: | DUAN Shan-yu PENG Da-heng LIU Hong |
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| Abstract: | New technology investment is an investment movement on which technology development is based,so as, which to realize the maximization of capital return by means of supply new product in the end. Its risk and return have great uncertainty. Traditional investment decision analysis method (net present value method) often underestimates the evaluation of investment project, which is great deficiency and shortage. Therefore, we use the real option theory to construct an option evaluation model of the new technology investment, which makes the e-valuation of the new technology investment project more objective. |
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| Keywords: | New techndogy investment real option net present value (NPV) |
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