实物期权理论在房地产投资决策中的应用

Application of Real Option Theory to the Real Estate Development Investment Decision

针对贴现现金流量法在房地产项目投资决策中的缺陷 ,引入实物期权理论 ,对房地产投资决策中的实物期权进行分类 ,提出了对应各类实物期权的房地产投资策略 ,并用实物期权的定价方法对传统的贴现现金流量法进行改进 。

Taking aim at the defects of DCF on the real estate investment decision, through drawing the real option theory into investment decision, the real option of real estate investment decision is classified and the relevant strategy for real estate investment is advanced. The traditional DCF to raise the scientific of the investment decisions by using the fixed price way of real option is also improved.