水利项目投资中实物期权决策  

Investment Decision-making in Water Conservancy Projects Based on Real Options

作　　者：方大春[1] 

机构地区：[1]安徽工业大学经济学院,安徽马鞍山243002

出　　处：《技术经济》2007年第6期33-36,共4页Journal of Technology Economics

摘　　要：传统方法净现值法(NPV)因自身局限性与水利项目特点,在水利项目投资决策的科学性与准确性受到质疑。本文通过两个实例说明,把实物期权方法引进水利项目决策中,能有效克服传统方法局限性,提高决策的科学性。最后对实物期权新思维在水利项目决策中的价值进行了总结。Due to traditional evaluation methods some limitations and water conservancy investment characteristics, the exactness and legitimacy of decision-making method is doubted through applying present value method to invest Water Conservancy Projects. The real options method can overcome their traits and enhance exactness and legitimacy of decision-making, it is illuminated through two examples in the paper. In the end ,some effect based on real options are summarized.

关 键 词：投资 实物期权 决策 

分 类 号：F407.91[经济管理—产业经济] F224