实物期权在创业投资决策中的应用

The Application of Real Option in Venture Capital Investment Decision

传统的投资决策方法由于其蕴含的不确定性和可逆转性的假设使其不适合于运用在高风险、高收益并存的创业投资活动中。从实物期权理论的基本原理出发,通过具体实例来对比说明实物期权理论运用于创业投资的优势。

Traditional method of investment decision is not suitable to be applied into the activities of venture capital investment with the characteristics of high risk and high profit because of their applied uncertainty and irreversibility. From the point of basic principle of real option theory, this paper displays the advantages of the application of real option theory into venture capital investment by concrete cases.