| R & D project''''s investment evaluation based on real option and its value at risk |
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| 引用本文： | 沈玉志,周效飞. R & D project''''s investment evaluation based on real option and its value at risk[J]. 煤炭学报(英文版), 2003, 0(2) |
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| 作者姓名： | 沈玉志 周效飞 |
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| 作者单位： | College of Business Administration，College of Business Administration Liaoning Technical University，Fuxin 123000，Liaoning Technical University，Fuxin 123000 |
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| 摘 要： | Recently ,therealoptionmethodsintheprojectevaluationtheoriesanditsapplicationhavereceivedmoreatten tion[1] ,butmanydiscussionsjustappliedautomaticallythefinancialOption pricingmodel (suchasBinominalOption pricingModel,Black ScholesModel) .Formostprojects,theirindeterminacieshavedifferentcharacteristics,andtheircharacteristicsofincomeandriskisdifferenttoo ,sowecan’tapplythefinancialtheoriesautomatically .Additionally ,theactualrealoptionmethodsfocusontheproject’sreturnandsaylittleoftheriska…
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R & D project''''s investment evaluation based on real option and its value at risk |
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| SHEN Yu zhi,ZHOU Xiao fei. R & D project''''s investment evaluation based on real option and its value at risk[J]. Journal of Coal Science & Engineering(China), 2003, 0(2) |
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| Authors: | SHEN Yu zhi ZHOU Xiao fei |
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| Abstract: | The authors looked upon it as real options and applied the VaR(Value at Risk) method to the evaluation of its risk value based on the analysis of R & D project investment characteristics,and advanced the evaluation model of the project's return and risk according to financial theories.This paper expounded the two dimension evaluation model of project,and divided it into five decision making regions. |
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| Keywords: | R & D project real option VaR two dimension evaluation |
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