论实物期权法在采矿权出让评估中的必要性  

Discussion on Necessity of Real Option Method in Evaluation of Mining Right Transfer

作　　者：柳淑珍[1] 刘普尧 赵顺国[2] 

机构地区：[1]内蒙古科技大学 [2]中铁二十局集团

出　　处：《现代矿业》2009年第4期19-21,共3页Modern Mining

摘　　要：简述了矿业权评估的准确与否直接影响矿业权市场的公平交易和国家的利益,然而矿业投资领域的矿产品价格波动大、不确定性高,传统的折现现金流法(DCF法),由于种种原因导致所得出的价格与实际价值之间存在显著差异,容易造成国有资产流失。探讨了实物期权法在矿业权出让评估中的应用,表明其能够更合理地评估矿业权的价值,从而减少国有资产的流失。Mining right evaluation plays an important role in exchange of mining right market and protection of the state interest. However, there are obvious differences between price and actual value due to many causes such as large fluctuation of mineral product prices in mining investment field, high uncertainty and the conventional discounted cash flow method, and these easily cause loss of the stateowned assets. The application of the real option method in evaluation of mining right transfer is discussed. The real option method can rationally evaluate value of the mining right, so that loss of the stateowned assets can be reduced.

关 键 词：采矿权出让评估 国有资产流失 实物期权法 

分 类 号：F407.1[经济管理—产业经济]