投资决策的期权方法  

Optional Method for Investment Decision Making

作　　者：刘成刚[1] 陈小林[2] 

机构地区：[1]山东建筑工程学院商学院,山东济南250014 [2]中国科技大学人文学院,安徽合肥230026

出　　处：《商业研究》2006年第3期70-72,共3页Commercial Research

摘　　要：根据投资的不可逆性和延期投资的可能性,认为投资机会是有价值的,这个价值是投资的机会成本。如果考虑投资机会的价值,投资者作出投资决策的原则是:只有当净现值大于投资机会的价值时,才可以进行投资。贴现率、投资成本、产品价格在未来上升的概率和下降的幅度对投资决策有影响。According to the irreversibility of investment and the probability of deferred investment, this paper holds that investment opportunity has its value, and the value is opportunity cost of investment. By taking account into the value of investmerit opportunity, investors usually follow such a principle of making investment decision that Net Present Value exceeds the value of investment opportunity. In addition, some other factors may also affect investment decision making including discounted rate, investment cost, probability rate of product price upswing and the range of product price declining in future.

关 键 词：不可逆投资 投资机会价值 投资期权 净现值 

分 类 号：F12[经济管理—世界经济]