基于投资时间的决策分析研究

Investment Decision-making Analysis Based on Waiting Option Value

传统的净现值法在进行项目投资决策时没有考虑到项目的开工时间建设问题,有很大的局限性。因此提出时间等待价值的概念,采用计算净现值数学期望的方法,建立了计算时间等待价值的数学模型,解决了项目投资中因投资时间选择而产生的时间等待价值问题。

The timing implementation is seldom considered in the traditional investment model and this contains a lot of shortcomings. This paper gives the concept of waiting option value, by which to compute the expectation of NPV. It also sets up the mathematical model of waiting option value and solves the concurrent problems in project investment decision.