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企业技术进步投资的动态控制策略分析

A Study of Dynamic Control Strategy of the Firm's Technology Progress Investment
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摘要 当今技术发展日新月异,企业欲投资的技术在不断地更新换代.有的技术有效寿命长,有的技术很快就会过时,必须及时升级更新.因此,企业在技术投资选择方面存在着很大的不确定性,如何把握未来技术进步的水平是企业战略决策者必须重点关注的问题.但由于企业新技术投资是在技术进步的基础上以最终提供新的产品为手段,实现资本收益最大化的投资活动.传统的投资决策分析方法(NPV)往往会低估项目价值,存在很大的缺陷与不足.引入实物期权理论,建立新技术投资的期权评价模型,将使新技术投资项目评价更加符合客观实际. With the fast changing environments, the technologies which firm wants to invest are emerging quickly. Some technologies have long valid life, but the others may out date soon, they must updated in time. Therefore, there is much uncertainty in the investment on technology progress. A firm＇s strategic decision - maker must pay attention to the issue of how to master the level of future technology progressing. A dynamic analysis model is presented in this paper, and the questions about investment strategy on technology progress are also discussed.
作者 刘文华 刘敏
机构地区 荆楚理工学院经济与管理学院 云南师范大学经济学院
出处 《云南师范大学学报（自然科学版）》 2010年第2期29-32,共4页 Journal of Yunnan Normal University:Natural Sciences Edition
基金 国家自然科学基金项目(70872030)
关键词 技术进步 投资 实物期权 technology progress investment real options
分类号 F276 [经济管理—企业管理]
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参考文献12

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二级参考文献20

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共引文献74

云南师范大学学报（自然科学版）
2010年 第2期

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