摘要
实物期权方法将项目投资中的管理柔性视作期权(选择权)进行分析,比传统的净现值法更适合用来分析不确定环境下的项目投资决策问题。论文分析了传统净现值法的缺陷及实物期权法对其的改进,以及项目投资中实物期权的类型,构建了基于实物期权的项目投资决策模型,并对实物期权方法在项目投资决策中的应用进行了评价。
Real Option Approach considers soft management as options in the project investment and is more applicable to the analysis of decision-making problems of the project investment under the uncertain conditions as compared with the traditional net present value method. The article firstly discloses the defaults of the traditional net present value method and reveals the improvements in the real option approach, and then enumerates the types of the real option approaches and proposes the construction of the project investment decision-making models based on real option, and in the end, evaluates the application of the real option approach in the decision-making process of project investment.
出处
《长沙理工大学学报（社会科学版）》
2009年第2期23-27,共5页
Journal of Changsha University of Science and Technology：Social Science
基金
国家社科基金"社会审计系统柔性机理与应用策略研究"(编号:08BJY026)资助项目
关键词
净现值法
实物期权方法
项目投资决策
管理柔性
net present value method
real option approach
decision-making in project investment
soft management
