投资项目评价方法的比较分析  

To Compare and to Analyse on Evaluating Methods of Investment Projct

作　　者：曹晓东[1] 邱菀华[1] 

机构地区：[1]北京航空航天大学经济管理学院,北京100083

出　　处：《价值工程》2008年第8期15-18,共4页Value Engineering

基　　金：教育部人文社会科学"节约型社区建设与和谐发展的指标体系及评价方法研究"项目(07JA630004)。

摘　　要：回顾了投资项目评价方法的发展,分析了现有评价方法之间的关系。然后,从投资项目的收益流、投资价值、投资成本、投资时机、影响因素以及应用范围等方面,对已有投资项目评价方法进行了比较分析。最后,通过将期权博弈方法与其它评价方法进行两两比较,讨论了期权博弈方法的优越性,指出期权博弈方法是目前战略投资环境中评价项目价值最可靠、最合理的方法。This paper reviews the development of the evaluation methods of investment and analyzes the relationship among the existing evaluation methods. Then it carries out a detailed comparative analysis of the evaluation methods in terms of the flow of the investment, investment value, the cost and opportunities of the investment, influencing factors and the scope of application. At last, it compares the option games with other evaluation methods and discusses the superiority of the option games. It points out that option games is the most reliable and reasonable approach to evaluating the investment value under the strategic investment environment currently.

关 键 词：战略投资 现金流贴现法 敏感性分析 实物期权 期权博弈 

分 类 号：F830.59[经济管理—金融学] N03[自然科学总论—科学技术哲学]