In order to effectively avoid the defects of a traditional discounted cash flow method, a trinomial tree pricing model of the real option is improved and used to forecast the investment price of mining. Taking Molybde...In order to effectively avoid the defects of a traditional discounted cash flow method, a trinomial tree pricing model of the real option is improved and used to forecast the investment price of mining. Taking Molybdenum ore as an example, a theoretical model for the hurdle price under the optimal investment timing is constructed. Based on the example data, the op- tion price model is simulated. By the model, mine investment price can be computed and forecast effectively. According to the characteristics of mine investment, cut-off grade, reserve estimation and mine life in different price also can be quantified. The result shows that it is reliable and practical to enhance the accuracy for mining investment decision.展开更多
Based on data from ChinaFLUX this study analyzed the daily value flow processes of carbon fixation, monthly value distribution, and daily accumulative processes in a year of two kinds of typical forest, two kinds of g...Based on data from ChinaFLUX this study analyzed the daily value flow processes of carbon fixation, monthly value distribution, and daily accumulative processes in a year of two kinds of typical forest, two kinds of grasses and a farmland. The results showed that the annual value of carbon fixation of these ecosystems was different, and flow processes and cumulative processes followed different trends over a year. The sequence of the five kinds of ecosystems based on the annual value of carbon fixation from largest to smallest was Yucheng warm temperate agriculture ecosystem （Yucheng）, Qianyanzhou subtropical artificial coniferous forest ecosystem （Qianyanzhou）, Changbai Mountain temperate mixed coniferous broad-leaved forest ecosystem （Changbaishan）, Haibei alpine meadow ecosystem （Haibei）and Dangxiong alpine meadow ecosystem （Dangxiong）. Variability in the daily and monthly carbon fixation at Qianyanzhou was the smallest, followed by Changbaishan, Yucheng, Dangxiong and Haibei. The cumulative processes of daily carbon fixation for the five kinds of ecosystems were well fitted to cubic curves.展开更多
文摘In order to effectively avoid the defects of a traditional discounted cash flow method, a trinomial tree pricing model of the real option is improved and used to forecast the investment price of mining. Taking Molybdenum ore as an example, a theoretical model for the hurdle price under the optimal investment timing is constructed. Based on the example data, the op- tion price model is simulated. By the model, mine investment price can be computed and forecast effectively. According to the characteristics of mine investment, cut-off grade, reserve estimation and mine life in different price also can be quantified. The result shows that it is reliable and practical to enhance the accuracy for mining investment decision.
基金National Natural Science Foundation of China (31070384)
文摘Based on data from ChinaFLUX this study analyzed the daily value flow processes of carbon fixation, monthly value distribution, and daily accumulative processes in a year of two kinds of typical forest, two kinds of grasses and a farmland. The results showed that the annual value of carbon fixation of these ecosystems was different, and flow processes and cumulative processes followed different trends over a year. The sequence of the five kinds of ecosystems based on the annual value of carbon fixation from largest to smallest was Yucheng warm temperate agriculture ecosystem （Yucheng）, Qianyanzhou subtropical artificial coniferous forest ecosystem （Qianyanzhou）, Changbai Mountain temperate mixed coniferous broad-leaved forest ecosystem （Changbaishan）, Haibei alpine meadow ecosystem （Haibei）and Dangxiong alpine meadow ecosystem （Dangxiong）. Variability in the daily and monthly carbon fixation at Qianyanzhou was the smallest, followed by Changbaishan, Yucheng, Dangxiong and Haibei. The cumulative processes of daily carbon fixation for the five kinds of ecosystems were well fitted to cubic curves.
