随机模糊折现现金流融资决策模型建立及求解  

Random-Fuzzy DCF Financial Decision Model and Solution

作　　者：路静敏[1] 唐万生[1] 

机构地区：[1]天津大学系统工程研究所,天津300072

出　　处：《哈尔滨工业大学学报（社会科学版）》2006年第5期108-112,共5页Journal of Harbin Institute of Technology(Social Sciences Edition)

基　　金：国家自然科学基金资助项目(70171004)

摘　　要：企业未来投资收益既具有随机性又表现出一定的模糊性,而将未来单位资本投资收益率定义为随机模糊变量,按照企业发展的特点将其分为低、中、高三个阶段,并在随机模糊环境下建立了融资决策模型,最后利用基于随机模糊模拟的SPSA算法对模型进行求解,结合算例对算法的有效性进行了解释。The firm＇s future yield contains not only stochastic character but also fuzzy character. In this paper, the future unit capital investment yield is characterized as a random - fuzzy variable, which according to the trait of corporate can be divided as follows： high yield, medium yield and low yield. The DCF financial decision model is developed in random -fuzzy circumstance. At last, the SPSA algorithm based on random - fuzzy simulation is given to solve the model, and one case is provided to illustrate the effectiveness of the proposed algorithm.

关 键 词：随机模糊 投资收益率 融资决策 SPSA算法 

分 类 号：F270.5[经济管理—企业管理]