摘要
经营灵活性反映了矿山企业管理者对经济环境变化时的反应能力 ,给矿山投资项目带来投资机会价值。基于期权定价理论和方法 ,对矿山投资项目的不确定因素和经营灵活性价值进行了分析 ,并建立了相应的投资决策模型。
Operating flexibility is termed as the ability of a mine to react to the changes in its economic environment, and forms the investment opportunity values of its mining projects. Traditional evaluation of investment under uncertainty overlooks this type of operating flexibility and undervalues the mining projects. Based on the real option pricing method, the uncertainties and values of operating flexibility in mining projects are analysed and an evaluating model is set up.
出处
《矿冶工程》
CAS
CSCD
北大核心
2002年第3期20-22,25,共4页
Mining and Metallurgical Engineering
基金
安徽省教委自然基金资助项目 (2 0 0 1kj2 0 7)
国家自然科学基金资助项目 (79960 0 0 5)
关键词
矿业工程
经营灵活性
实物期权
投资分析
mining project
operating flexibility
option pricing
investment analysis
