The traditional DCF approach ignoring the managerial flexibility of the decision makers often underestimates the value of project value. This paper not only takes into account the uncertainty of investment and the irr...The traditional DCF approach ignoring the managerial flexibility of the decision makers often underestimates the value of project value. This paper not only takes into account the uncertainty of investment and the irreversibility of the sunk cost, but also takes the competitors＇ erode to the project value into it. Relax the EMH and the rationality of the investor＇s hypothesis, integrate the behavioral finance theory and the game option, and construct the valuing frame based on the behavioral finance and game option theory to make a scientific and effective project decision-making approach.展开更多
Financial decision-making is the central link of enterprise financial management. The prevalent theory of financial decision-making is ＂capital structure＂. This paper makes a new explanation of ＂capital structure＂...Financial decision-making is the central link of enterprise financial management. The prevalent theory of financial decision-making is ＂capital structure＂. This paper makes a new explanation of ＂capital structure＂, which is ＂financial contract structure＂ based on interacts among stakeholders. It developed the intension and extension of＂capital structure＂.展开更多
In the rapid development of China＇s urbanization under the background of the implementation of the rural minimum living security system faces the problem of guaranteeing fund raising low object finds difficulties, la...In the rapid development of China＇s urbanization under the background of the implementation of the rural minimum living security system faces the problem of guaranteeing fund raising low object finds difficulties, lack of subsistence fund management and operation supervision, guaranteeing that the system failed to effectively implement the＂ Should ensure as far as possible to protect＂ problem. Increase the central budget for rural residents to fund investment, improve the rural minimum living security object discrimination and exit system, strengthen the system of subsistence allowances operation supervision, accelerate the pace of the construction of legal system of subsistence, countermeasures of rural reform policy.展开更多
文摘The traditional DCF approach ignoring the managerial flexibility of the decision makers often underestimates the value of project value. This paper not only takes into account the uncertainty of investment and the irreversibility of the sunk cost, but also takes the competitors＇ erode to the project value into it. Relax the EMH and the rationality of the investor＇s hypothesis, integrate the behavioral finance theory and the game option, and construct the valuing frame based on the behavioral finance and game option theory to make a scientific and effective project decision-making approach.
文摘Financial decision-making is the central link of enterprise financial management. The prevalent theory of financial decision-making is ＂capital structure＂. This paper makes a new explanation of ＂capital structure＂, which is ＂financial contract structure＂ based on interacts among stakeholders. It developed the intension and extension of＂capital structure＂.
文摘In the rapid development of China＇s urbanization under the background of the implementation of the rural minimum living security system faces the problem of guaranteeing fund raising low object finds difficulties, lack of subsistence fund management and operation supervision, guaranteeing that the system failed to effectively implement the＂ Should ensure as far as possible to protect＂ problem. Increase the central budget for rural residents to fund investment, improve the rural minimum living security object discrimination and exit system, strengthen the system of subsistence allowances operation supervision, accelerate the pace of the construction of legal system of subsistence, countermeasures of rural reform policy.
