基于期权的采矿权估价随机利率方法  

Evaluation method of mining rights based on option

作　　者：张金锁[1] 邹绍辉[1] 李铁治[1] 

机构地区：[1]西安科技学院管理学院,陕西西安710054

出　　处：《西安科技学院学报》2003年第2期220-223,共4页

基　　金：陕西省自然科学基金资助项目(G9902);陕西省教育基金项目(00JK199)

摘　　要：由于假定利率不变和不考虑资源开采者在运营管理上的灵活性,收益现值法在评估采矿权时容易低估其价值。为此,作者建立了基于期权的采矿权估价随机利率方法,并通过实例对该方法进行了验证。计算结果表明,基于期权的采矿权估价随机利率方法较收益现值法能提高采矿权的价值。In practice the application of evaluation method of income present value, rates is supposed to be constant and management flexibility is not considered, this causes the value of mining rights is underestimated. A method of evaluating mining rights based stochastic interest rates is set up. And it is used to appraise the coal mining rights in Shaanxi province. According to the results, the method can raise the value of coal mining rights.

关 键 词：采矿权 期权 随机利率 

分 类 号：F407.1[经济管理—产业经济]