From the point of view of the basic option model, enterprise investment decision making under uncertainty is studied based on the martingale method. The study shows that investment options and yields are increasing fu...From the point of view of the basic option model, enterprise investment decision making under uncertainty is studied based on the martingale method. The study shows that investment options and yields are increasing functions of time, and when the option equals the yield, the investment opportunity cost is the least, which is the appropriate time for the enterprise investment. Under the condition that the investment yield is an increasing function of time, the investment opportunity cost is also an increasing function of time after the time when the investment option equals the investment yield. So the investors should invest as soon as possible, otherwise they should stop investment forever in this project. It is impossible to acquire more investment yields by indefinitely delaying the investment. Meanwhile, the study also shows that the martingale method, used widely in financial investment theory, is a powerful tool for enterprise investment decision making.展开更多
So far, most theories of economics and management are under the same premisethat the natural resources are never exhausted and regenerated repeatedly. The magic of technologybrought by industrial revolution endowed hu...So far, most theories of economics and management are under the same premisethat the natural resources are never exhausted and regenerated repeatedly. The magic of technologybrought by industrial revolution endowed human with power that they can do anything they want. Italso turns natural resources into industrial energy and enhances the development of human societyand civilization. Human uses direct comparison of input and output and the satisfaction degree ofdemands to measure the production activities, the economic benefit and management performance,regardless of the change of ecology that serves as the natural resources. However, since theecological environment has been changing worse recently and natural disaster happened frequentlyhuman's dream of conquering the nature has been broken. The nature implements reprisal against humanagain and again, and human is faced with the development limit because of the environmentalrestriction.展开更多
Based on the principal-agent theory, this paper analyzes the current situation and the developing trends of Chinese private enterprises. It points out the obstacles confronted by Chinese private enterprise in setting ...Based on the principal-agent theory, this paper analyzes the current situation and the developing trends of Chinese private enterprises. It points out the obstacles confronted by Chinese private enterprise in setting up the principal-agent mechanism and proposes the corresponding solutions to these problems.展开更多
文摘From the point of view of the basic option model, enterprise investment decision making under uncertainty is studied based on the martingale method. The study shows that investment options and yields are increasing functions of time, and when the option equals the yield, the investment opportunity cost is the least, which is the appropriate time for the enterprise investment. Under the condition that the investment yield is an increasing function of time, the investment opportunity cost is also an increasing function of time after the time when the investment option equals the investment yield. So the investors should invest as soon as possible, otherwise they should stop investment forever in this project. It is impossible to acquire more investment yields by indefinitely delaying the investment. Meanwhile, the study also shows that the martingale method, used widely in financial investment theory, is a powerful tool for enterprise investment decision making.
文摘So far, most theories of economics and management are under the same premisethat the natural resources are never exhausted and regenerated repeatedly. The magic of technologybrought by industrial revolution endowed human with power that they can do anything they want. Italso turns natural resources into industrial energy and enhances the development of human societyand civilization. Human uses direct comparison of input and output and the satisfaction degree ofdemands to measure the production activities, the economic benefit and management performance,regardless of the change of ecology that serves as the natural resources. However, since theecological environment has been changing worse recently and natural disaster happened frequentlyhuman's dream of conquering the nature has been broken. The nature implements reprisal against humanagain and again, and human is faced with the development limit because of the environmentalrestriction.
文摘Based on the principal-agent theory, this paper analyzes the current situation and the developing trends of Chinese private enterprises. It points out the obstacles confronted by Chinese private enterprise in setting up the principal-agent mechanism and proposes the corresponding solutions to these problems.
