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基于实物期权思想的转包生产决策

The Decision-making of Outsourcing based on Real Options
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摘要 分析了传统转包决策方法的局限性,借鉴实物期权理论,提出了延迟期权、扩展期权、放弃期权、收缩期权和转换期权在生产中的实际意义。应用Black-Scholes期权定价模型和二叉树期权定价模型研究了基于实物期权的生产/转包决策方法,通过2种模型结果的比较,为面向未来价值的自行生产或转包生产的决策提供了理论依据。 This paper analyzes the limitations of traditional methods of outsourcing decision-making, researches practical significance of Wait to Invest Options, Growth Options, Abandonment Options, Shrink Options and Conversion Options in the course of production based on theory of real options, and studies decision-making methods of self-production/outsourcing by applying Black-Scholes options pricing models and Erchashu options pricing models. Through comparison of the two model results, the paper provides theoretical basis for a future-oriented value to make decision outsourcing production or self-production.
出处 《工业工程》 2007年第5期58-61,共4页 Industrial Engineering Journal
关键词 实物期权 转包生产 BLACK-SCHOLES期权定价模型 二叉树期权定价模型 real options outsourcing production Black-Scholes options pricing models Erchashu options pricing models
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