摘要
风险项目投资常常采用分阶段投资的形式 ,它为项目创造了一个追加投资的机会 ,本文引入期权理论、利用B—S期权定价模型来评估这个机会的价值 ,从而有效克服了传统净现值法的局限 ,增加了风险项目投资决策的合理性和科学性。
Multi stage investment is usually adopted in venture project investment,which creates an opportunity to add investment for the project.The article quotes option theory and uses B S option pricing model to evaluate the opportunity, which overcomes the limit of tradional NPV method and promotes the reasonableness and scientiness of the decision making of venture project investment.
出处
《华东经济管理》
2001年第4期123-124,共2页
East China Economic Management
