To improve China＇s residential environment evaluation system and enhance its guiding role, current research results are analyzed and summarized from three aspects including research scales, evaluation methods and app...To improve China＇s residential environment evaluation system and enhance its guiding role, current research results are analyzed and summarized from three aspects including research scales, evaluation methods and applied technology by means of comparison, induction and empirical application. The guiding role of the current macro-scale evaluation system of urban planning and construction is generally not obvious, whereas the guiding role of medium and micro-scale systems to the improvement of residential environments is improving. There are diversified methods for determining the threshold values and the weights of indices in China＇s evaluation system. For instance, the analytic hierarchy process（AHP） method is adopted to determine the weights of indices. The advantages and disadvantages of the method are analyzed on the basis of empirical calculation. In the course of comprehensive analyses, a nonlinear model can reflect interactions among indices more than a linear model; the evaluation model under the ARCGIS platform prevails since it combines space and attribute, and it has intuitive results. So far, the methodological system of China＇s residential environment evaluation has not been established; its subject coverage and research category should be expanded, and its guiding role should be enhanced.展开更多
Limitations exist in applying discounted cash flow and analogy sales methods to evaluate mining titles. In order to find a more appropriate way of evaluating mining titles, the Black-Scholes model is discussed in this...Limitations exist in applying discounted cash flow and analogy sales methods to evaluate mining titles. In order to find a more appropriate way of evaluating mining titles, the Black-Scholes model is discussed in this paper. The authors pay particular attention to the determination of the time to maturity of the option on the basis of characteristics of the mining industry, pointing out that a reasonable time to maturity of the option should be the remaining time after deducting the essential time, needed by exploitation of the mineral resources within the mining property, from the life of the mining title. Several conclusions, related to the exercise of mineral resource management, are drawn from a case study analysis; extending the life of a mining title within a certain range could increase the revenue to the seller of the mining title. Application of the Black-Scholes model to evaluate mining titles would encourage an expansion of the scale of production.展开更多
This article is based on traditionally intrinsic value assessment model. We employed the assumption on the differences in future increase rates of companies, taking into account of the expected Economic Value Added (E...This article is based on traditionally intrinsic value assessment model. We employed the assumption on the differences in future increase rates of companies, taking into account of the expected Economic Value Added (EVA) discount and the capital investment, to establish a high increase model, a two-stage EVA discount model and a three-stage EVA discount model for the intrinsic value assessment. Those models eliminate the great fluctuation of free cash flow in calculating the capital expenditure by setting aside the cash flow of the company’s investment in the year and considering only the capital cost. This method needs only to assess the EVA flow in different year in probing the intrinsic value of a company, thus give more consistent conclusion than conventional methods.展开更多
The rights and interests value of mineral resources includes the prospecting rights value and the mining rights value. The mining rights value is made up of the min-eral resources value and the compensation value base...The rights and interests value of mineral resources includes the prospecting rights value and the mining rights value. The mining rights value is made up of the min-eral resources value and the compensation value based on the inputs of capitals and labors in different exploration stage, the prospecting rights value should be equal to ex-ploration differential rent of resources. According to the stage characteristic of mineral resources exploration and development, the initial evaluating methods and models are used to evaluate the prospecting rights and mining rights value.展开更多
The traditional models of evaluating human resources are mainly based upon the discounted value of future payment, but these models fail to take the employment risk into account, and often neglect the uncertainty and ...The traditional models of evaluating human resources are mainly based upon the discounted value of future payment, but these models fail to take the employment risk into account, and often neglect the uncertainty and underes- timate the human resource value. This paper first introduces the option theory, and then presents human resources as the real commodity for the call option. Second, concerning the choices for the uncertainty decision, the decisions of delay- ing the employment of the human resources, expanding or deducing the scale of human resources, giving up or chang- ing human resources, etc., are made to deal with the future uncertainties appropriately. This will cause the investment to be more beneficial or to reduce the loss. Finally, the expand option theory of real options is used to evaluate the value of reinvestment in human resources, and the expand option theory could be provided as a reference for management im- plementation and decision-making in human resources.展开更多
基金The National Key Technology R&D Program during the 11th Five-Year Plan(No.2006BAJ11B04-2)the Soft Science Project of the Ministry of Construction of China(No.2008-R2-25)
文摘To improve China＇s residential environment evaluation system and enhance its guiding role, current research results are analyzed and summarized from three aspects including research scales, evaluation methods and applied technology by means of comparison, induction and empirical application. The guiding role of the current macro-scale evaluation system of urban planning and construction is generally not obvious, whereas the guiding role of medium and micro-scale systems to the improvement of residential environments is improving. There are diversified methods for determining the threshold values and the weights of indices in China＇s evaluation system. For instance, the analytic hierarchy process（AHP） method is adopted to determine the weights of indices. The advantages and disadvantages of the method are analyzed on the basis of empirical calculation. In the course of comprehensive analyses, a nonlinear model can reflect interactions among indices more than a linear model; the evaluation model under the ARCGIS platform prevails since it combines space and attribute, and it has intuitive results. So far, the methodological system of China＇s residential environment evaluation has not been established; its subject coverage and research category should be expanded, and its guiding role should be enhanced.
基金Project 50074031 supported by National Natural Science Foundation of China
文摘Limitations exist in applying discounted cash flow and analogy sales methods to evaluate mining titles. In order to find a more appropriate way of evaluating mining titles, the Black-Scholes model is discussed in this paper. The authors pay particular attention to the determination of the time to maturity of the option on the basis of characteristics of the mining industry, pointing out that a reasonable time to maturity of the option should be the remaining time after deducting the essential time, needed by exploitation of the mineral resources within the mining property, from the life of the mining title. Several conclusions, related to the exercise of mineral resource management, are drawn from a case study analysis; extending the life of a mining title within a certain range could increase the revenue to the seller of the mining title. Application of the Black-Scholes model to evaluate mining titles would encourage an expansion of the scale of production.
文摘This article is based on traditionally intrinsic value assessment model. We employed the assumption on the differences in future increase rates of companies, taking into account of the expected Economic Value Added (EVA) discount and the capital investment, to establish a high increase model, a two-stage EVA discount model and a three-stage EVA discount model for the intrinsic value assessment. Those models eliminate the great fluctuation of free cash flow in calculating the capital expenditure by setting aside the cash flow of the company’s investment in the year and considering only the capital cost. This method needs only to assess the EVA flow in different year in probing the intrinsic value of a company, thus give more consistent conclusion than conventional methods.
文摘The rights and interests value of mineral resources includes the prospecting rights value and the mining rights value. The mining rights value is made up of the min-eral resources value and the compensation value based on the inputs of capitals and labors in different exploration stage, the prospecting rights value should be equal to ex-ploration differential rent of resources. According to the stage characteristic of mineral resources exploration and development, the initial evaluating methods and models are used to evaluate the prospecting rights and mining rights value.
基金Projects BJY043 supported by National Social Science Foundation of China and NJ04013 supported by Inner Mongolia Education Bureau Higher EducationResearch
文摘The traditional models of evaluating human resources are mainly based upon the discounted value of future payment, but these models fail to take the employment risk into account, and often neglect the uncertainty and underes- timate the human resource value. This paper first introduces the option theory, and then presents human resources as the real commodity for the call option. Second, concerning the choices for the uncertainty decision, the decisions of delay- ing the employment of the human resources, expanding or deducing the scale of human resources, giving up or chang- ing human resources, etc., are made to deal with the future uncertainties appropriately. This will cause the investment to be more beneficial or to reduce the loss. Finally, the expand option theory of real options is used to evaluate the value of reinvestment in human resources, and the expand option theory could be provided as a reference for management im- plementation and decision-making in human resources.
