项目价值评估方法探究

介绍项目价值评估现金流量折现法及其内在局限性;分析项目投资的实物期权特性,将项目投资看成蕴含着经济价值的实物期权,引出项目价值评估实物期权法,利用二叉树期权定价模型优化项目投资决策。     

B-S—二叉树期权定价模型在有色金属股票期权定价中的应用

随着我国期货市场的不断繁荣,为了规避由于股票价格波动过大导致的风险,研究中以章源钨业为例,运用改进后的B-S—二叉树期权定价模型对有色金属股票期权定价问题进行分析,研究结果表明:通过评估可以得到期权初始合理价格、各个阶段上的节点价值以及期权处理方式.因此B-S—二叉树期权定价模型可用于评估股票价值,加强管理人员对股票期权执行风险的控制,确定是否应该继续持有还是提前执行约定的执行价格.      

风险投资灵活性价值探索

本文从西方经济学生产要素理论出发,深入挖掘了风险投资项目灵活性价值的源泉,并引入二叉树期权定价模型进一步给出了一种风险投资项目灵活性价值的定量评估方法,最后通过案例应用,有效解决了风险投资项目灵活性价值评估问题.     

论GIS视角下建设项目地质灾害危险性评估

经济社会的快速发展使人们不得不面对地质灾害日益严重的问题,而建设项目是人们必须要面对的重要内容之一。虽然国家已经针对建设项目明确提出了地质灾害危险性评估的要求,但大部分项目的地质灾害危险性评估已经处于定性评估,只有合理利用GIS技术,才能更好地进行项目的危险性评估。本文以分析建设项目用地地质灾害危险性评估为基础,基于GIS对某建设项目的地质危险性评估模型进行了详细的介绍,阐述通过GIS技术就能够实现可视化的评估结果显示的内容。实践证明,通过GIS技术的应用就可以提供最科学的评估,促进建设项目稳定运行下去。     

矿业权评估的实物期权方法

矿业权评估结果的准确与否将直接影响矿业权市场的交易和国家的利益 ,矿业投资领域的矿产品价格波动大 ,不确定性高。传统的折现现金流法(DCF法)有预期现金流不准、折现率选取困难的缺点 ,容易造成对项目的误评 ;又由于它不能反映管理的灵活性而容易低估项目的价值。矿业权评估的实物期权方法优于传统的DCF法 ,它能克服DCF法的弱点 ,更合理地评估矿业权的价值     

复合期权在房地产项目多阶段投资评价中的应用研究

大型房地产项目在运作过程中具有极大的不确定性,这种不确定性是有价值的.本文在实物期权思想的指引下,阐述了Geske复合期权定价模型,并分析了大型房地产项目分阶段、滚动开发模式中的复合实物期权特性.在模型应用和案例描绘的基础上,文章为多阶段房地产投资项目价值评估提供了一种新视角、新方法.     

生态系统服务价值评估的研究综述

生态系统服务是人类可持续发展的物质基础和自然资本.对生态系统服务价值的评估有利于人们认识自然生态系统对人类福利的重要性,是生态学、地理学等自然科学利用经济学方法进一步影响社会决策的尝试.但由于生态系统的复杂性和经济系统对生态系统服务反映的模糊性,目前尚难准确评估生态系统服务价值.多尺度综合研究与动态参与式评估、物产价值与非物质性服务价值的分离研究、对边际价值的调查与模拟研究、与生态补偿等相关领域的结合研究、非物质性服务价值的市场化研究等是生态系统服务价值评估研究的深化方向.     

基于层次分析法的建设项目投资决策

影响建设项目投资决策的因素众多,如何对这些因素进行协调统一的分析利用是项目决策的重点也是难点.本文在论述建设项目决策各种影响因素的同时,结合金川公司一期镍电解厂房大型屋面板开裂处理方案选择案例,采用层次分析法建立了建设项目投资决策评价体系并进行了分析,结果表明,该方法有助于解决复杂多因素影响下的建设项目投资决策问题.     

基于循环经济的钢铁工业项目投资决策研究

钢铁工业发展循环经济的问题一直备受业界关注,文章根据钢铁工业循环经济项目本身的高科技、高风险、不确定性及市场竞争的影响,采用期权博弈理论进行研究,并区别以往,选取了实物期权中经典的B-S模型和动态博弈中的Stackelberg模型相结合的全新形式来分析和解决问题,得出了在考虑市场竞争影响后的循环经济项目的实物期权价值及相应的决策战略。     

中国海外矿业投资决策过程基本框架和方法

 矿业投资直接决定着矿业公司未来的资源配置状况,直接改变着矿业公司的生产经营内容、结构和能力。为了提高矿业投资决策的科学性,对其过程基本框架的研究显得十分必要。笔者从一个海外矿业投资实例出发,通过分析和总结,建立了包括投资环境的评价、项目价值评估等关键步骤的矿业投资决策过程基本框架,并且对应用的环境评价和实物期权方法进行了研究,矿业企业可以利用此框架作为工具辅助决策。     

Altered sphingomyelinase and ceramide expression in the setting of ischemic and nephrotoxic acute renal failure

In order to make rational decisions for further implementation of picture archiving and communication systems (PACS) in Viennese community hospitals, an assessment of the Sozialmedizinisches Zentrum Ost (SMZO) project was launched by the Viennese community hospital financing body. The aim of the technology assessment was to look at the experiences of day-to-day practice, organizational aspects of, and obstacles to developing the full potential of the PACS installation. The study analyzes the conditions for employment of digital radiology, gathers the experiences of national and international projects, and presents a view on critical points, from which options for further implementation can be derived. In the center of interest stood work organization, handling and user attitudes, perceptions of radiologists and clinicians, realism of expectations regarding economic efficiency, technical aspects, and influence of quality of medical care.     

How to Evaluate and Invest in Emerging A/E/C Technologies under Uncertainty

Many emerging architectural/engineering/construction (A/E/C) technology investments are of strategic importance and may create future growth opportunities. Therefore, from the strategic perspective, management needs a better method that can quantify the strategic value of technology investment and suggest optimal investment strategies when the future is uncertain. This paper presents a quantitative valuation method based on modern option pricing theory for evaluating major investments in emerging A/E/C technologies. This framework considers specifically the technology investment risk and embedded managerial options. It further aligns the investment evaluation process with the financial market. The analysis may help A/E/C firms more accurately evaluate investments in emerging technologies, such as information technology and automation, and make strategic investment decisions under uncertainty.     

Future Environmental Regulation Issues to Promote Energy Efficiency

It is accepted that fossil fuel is the major source of energy in use today. The technology to use this fuel is well-developed and relatively safe. However, there are two fundamental problems facing the industry that is so dependent on this type of fuel. One, it is a limited resource with only decades of life left. Second is the pollution resulting from its use, primarily the CO2 greenhouse gas generated, and acid rain from NOx and SO2. Until suitable substitutes are found, developed, and implemented, the next best option is to reduce the consumption of the fuel through higher efficiency. Recent research projects with regard to environmental issues send a clear signal to both governments and the energy manufacturing industry that they need to act quickly in order to sustain the environmental conditions. Cogeneration is a technology which can achieve this, but it is important that financial and taxation systems are designed and implemented in a way that recognizes a broader scope for accountability of the needs of industry. Due to increase in the world economy there is a need for further technological progress and environmental legislation. This paper describes a potential fiscal model which could be used to encourage the responsible use of modern clean cogeneration plants to reduce the environmental impact and to allow some political influence over fuel use.     

遥感技术在地质灾害监测和治理中的应用

近些年来,我国经济与科技水平不断提高,各行业领域均在不断进行深化改革,创新出多种高新科技技术,以满足时代发展的需求。我国幅员辽阔,地质类型复杂多变,我国生态环境又遭到了严重破坏,因此,近些年各种自然灾害频发,我国逐渐意识到了事态的严重性,便投放了大量资致力于地质监测上,遥感技术便是地质监测技术中的一种,将遥感技术科学的应用于地质监测中,可以高效的监测出泥石流、地质、山崩及火山爆发等多种自然灾害,此时,国家便可针对监测结果,及早的作出预判,进而作出各种预防灾害的措施,并告知人民群众提早进行转移,以保障自身生命财产安全,本文便是阐述了遥感技术的原理及发展现状,并分析出了此技术在灾害监测中的应用价值,研究出了遥感技术在地质灾害监测中的具体应用,最后指明了遥感技术在地质灾害监测即灾害调查中的发展趋势,以供人们作为参考,加强遥感技术在地质灾害检测过程中的推广力度,最终使得此技术造福于人民。     

Practical Multifactor Approach to Evaluating Risk of Investment in Engineering Projects

Risk analysis is crucial in enabling management to make informed decisions regarding the economic viability of engineering projects. In most building construction projects, sophisticated risk assessment methods are not used because the detailed input information they require is unavailable to the average project owner or manager. As a result, risk assessment is often limited to simple sensitivity analyses. This paper presents a practical yet thorough method in which the economic risk inherent in a construction project can be calculated with input information of varying levels of detail. The proposed “multifactor” method includes consideration of interdependence between a project’s risk factors. The principles of the method are explained, its application to a large construction project is illustrated, and the findings are discussed.     

新余市新材料领域科技发展现状及其中长期发展目标

简要介绍了材料工业在新余市国民经济中的地位及其近年来产业结构的调整和技术进步,并指出新材料产业异军突起,势头诱人.并对新余市中长期新材料产业发展思路、前景、目标和重点发展领域提出了建设性意见和看法,具有较强的前瞻性和预见性,对新余市材料工业的发展具有现实意义和参考价值.     

Psychology’s role in mathematics and science education.

Improving mathematics and science education in the United States has been a matter of national concern for over half a century. Psychology has a vital role to play in this enterprise. In this article, the authors review the kinds of contributions that psychology can make in four areas: (a) early understanding of mathematics, (b) understanding of science, (c) social and motivational aspects of involvement in mathematics and science, and (d) assessment of learning in mathematics and science. They also examine challenges to psychology’s playing a central and constructive role and make recommendations for overcoming those challenges. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Cost-Estimating Tools for Low-Impact Development Best Management Practices: Challenges, Limitations, and Implications

Tools were developed for estimating costs of vegetative roofs, rainwater catchment systems, and bioretention facilities. These tools provide a detailed framework to facilitate cost estimation for capital costs, operation and maintenance costs, and life-cycle net present value. The tools can provide users with planning-level cost estimates and serve as a format for cost-reporting for past, current, and future projects. Very little cost data was available in the public forum, and prolific inconsistencies of supporting details were found in the available cost data. To address this, design assumptions were established for each facility type and professionally prepared cost estimates based on these design assumptions were used. Electives in design, such as plant selection and media depth, also greatly affected costs. To make the user aware of these effects, the model separates each option into line items that can be elected or excluded as appropriate. To facilitate collecting future cost data, best management practice (BMP) designers and builders should use these tools to record actual costs and report them to a clearinghouse such as the BMP Database.     

韶钢发展循环经济实践与思考

介绍韶钢发展循环经济的主要做法,提出发展循环经济是企业实现全面、协调、可持续发展的必然选择.以提高资源综合利用率为重点,以企业生产过程零排放为目标,通过广泛采用先进适用技术,依靠科技进步和研发创新,大力推进韶钢循环经济重点项目的建设,把韶钢建设成具有较高资源生产率、较低污染排放率的清洁生产企业及环境友好型的绿色工厂.     

高新技术产业化项目评价风险分析

根据高新技术产业化特点，针对高新技术产业化项目的风险，对其产业化项目评价进行风险分析，以便使高新技术产业化项目评价更为可靠。