实物期权在技术开发投资中应用的进一步研究

Further Research on the Application of the Real Option to the Technological Exploitation Investment

通过分析传统NPV方法和一般实物期权决策方法对技术开发投资估价的不足,引入了亚式期权方法,把实物期权和亚式期权结合起来,对技术开发投资决策进行了研究.最后给出一个实例,对三种方法进行了实证研究.

Traditional NPV methodology and general real option method have limitations in evaluating the investment of technological exploitation. In this paper, Asian option methodology is introduced and associated with real option. In addition, an example is offered for the case study of the three methods.