基于实物期权的企业信息化多项目投资决策研究

Research on the enterprises informationization multi-project invest decision-making based on the real option

企业投资信息化项目不同于一般的项目,信息化项目具有高度的不确定性、收益的无形性和延迟性等特点,传统的投资决策评价方法面对不确定性很高的信息化项目无法作出科学的判断,无法赋予投资者更多的灵活性。由于企业信息化项目投资及其产生的效益的不确定性具有许多实物期权的特点,因此,将运用实物期权方法来解决企业信息化多项目投资决策风险控制问题。

Business investment project information to the unusual project information to the project,a high degree of uncertainty,the delay immateriality and sexual characteristics and traditional investment decisions is very high appraisal method on the face of uncertainty in the informatization project can＇t make a scientific judgment,unable to give investors more flexibility. For enterprise it projects to invest and produce benefits in kind of uncertainty has many options,therefore,will apply the option to enterprises in more investment decisions of the project information to the risk control.