摘要
在分析R&D投资决策时,把R&D投资机会理解为当前投资机会的美式买入期权.从R&D投资特性和已有研究出发,以延迟期权为基础,运用最优停止理论及随机分析方法,分析了R&D投资的机会价值,得到了最优投资决策的临界值,从而增加了R&D投资决策的科学性.
When analyzing R&D investment decision, R&D investment chance can been taken as American option of current investment opportunity. From R&D investment characteristic, based on delay option, R&D investment opportunity value is analyzed and the optional trigger point of R&D investment decision by using optional stopping theory and stochastically analysis method is obtained. The result revises the traditional investment criterions, which improves the science of the decision- making of R&D project investment.
出处
《南昌工程学院学报》
CAS
2005年第2期6-10,共5页
Journal of Nanchang Institute of Technology
