摘要
将生物制药推向市场是一个相当复杂的系统工程,不仅需要经历相当长的时间和投入巨大的资本,还需要面对其中蕴藏着的大量技术风险和市场风险。在这一过程中传统的投资决策方法已力不从心。运用实物期权方法,建立基于二叉树的实物期权模型,可对我国生物制药企业有一定的帮助,并能促进我国企业的高新技术创新,使其在国际上的竞争力有所提高。
It is a complicated system engineering to expand biological pharmacy to the market,which needs a long period of time and huge investment;it also meets huge technical and market risk so the traditional investment decision can not meet the current need.However,through building the mode of real options by binary tree,we can help high-tech innovation of Chinese biopharmaceutical en-terprise and improve its international competitiveness.
出处
《商业经济》
2010年第22期87-88,共2页
Business & Economy
关键词
生物制药企业
研发
投资决策
实物期权
二叉树模型
biopharmaceutical enterprise
research and development
investment decision
real options
binary tree mode
