实物期权法在稀土资源开发投资决策中的应用  

The Application of Real Option Method in Investment Decision of Rare Earth Resources

作　　者：徐利飞[1] 

机构地区：[1]内蒙古财经大学会计学院

出　　处：《财会通讯（中）》2016年第3期6-9,129,共4页Communication of Finance and Accounting

基　　金：内蒙古财经大学校级重点课题(项目编号:KYZ1102)阶段性研究成果

摘　　要：传统现金流量法长期以来在项目投资决策中广泛应用,但随着市场不确定因素的增加,其内在的假设在对稀土资源这类战略性资源开发时难以成立,而实物期权法具有较好的应用价值。本文以包钢稀土公司为例,提出实物期权法的应用框架和模型参数的获取方法,并对实物期权法的推广应用提出建议。The method of cash flow has been widely used in project investment decision.But the hypothesis of cash flow method is not correct in strategy resource development decision,such as rare earth,because uncertainty of market is accumulating.So the method of real option can be used valuably.The article prompts the using frame and ways of getting parameters of model through the example of Bao Gong Rare Earth Corporation.In the end,the article gives some suggestions on using real option method.

关 键 词：现金流量法 实物期权法 稀土资源 

分 类 号：F224[经济管理—国民经济] F426