实物期权应用于不动产商务租赁定价的研究  

A Study on the Applications of Real Options in the Real Estate Commercial Lease

作　　者：瞿卫东[1] 

机构地区：[1]上海财经大学金融学院,上海200433

出　　处：《财经研究》2004年第11期34-41,共8页Journal of Finance and Economics

摘　　要：不动产商务租赁是一种常见而又富有特色的财产租赁类型。当金融期权的应用扩展到实物领域,并形成了颇具特色的实物期权后,作为一种全新的决策思维和决策技术,实物期权也开始在不动产商务租赁定价中得到应用。文章以不动产商务租赁作为期权的基础资产,揭示期权思维在商务楼租赁定价中的应用特点,分析商务楼租赁定价的实物期权模型,最后以简例说明在商务楼租赁中实物期权定价方法的应用及其意义。The real estate leasing for commercial use is a usual kind of property lease with characteristics. When the options applied in the finance are extended to the real field and forms into characteristic real options, their application begins in the commercial leasing as a new decision-making method and technique as well. The paper, taking the commercial leasing of real estate as the underlying of option, reveals the application features of the option thinking in the leasing of commercial buildings and analyses the option pricing models in the commercial leases.And finally it illustrates the applications and significances of these models.

关 键 词：实物期权 商务租赁定价 决策技术 

分 类 号：F830.59[经济管理—金融学]