电动汽车企业技术合作创新模式投资决策

The study of investment decision under the technology collaborative innovation mode of electric vehicle enterprise

合作创新是当今企业技术创新的重要方式,企业在进行合作创新时,最关键的是需要做出合理的投资决策.利用实物期权理论,研究了合作创新下企业投资决策的三个阶段期权价值和产品价格之间的关系.分析结果表明：企业投资规则应当是根据项目价值和投资期权的大小决定引进与创新实施的条件以及最优投资规则,F_1~＊才是最佳的理论投资点,一旦F大于F_1~＊,企业可以在上一阶段成功时,立即进行下一阶段,而不需要等待.

The collaborative innovation is the most important way of technology innovation in the current enterprise.When the enterprise is engaged in collaborative innovation,the most important key is the reasonable investment decision.By use of the theory of real options,the relationship between the option value and the product price is studied during the investment decision of enterprise under collaborative innovation.The research analyses show that the investment rule of enterprise depends on the project value and investment option.F_1~＊ is the best theoretical investment point.If F is greater than the F_1~＊,the enterprise will complete the three phases of the project.