摘要
对于不确定性较强的技术创新投资项目,运用实物期权方法中的B-S模型进行评估时考虑了项目未来不确定性所具有的价值,评估结果比传统净现值法更加准确。以A公司新产品的开发项目为例,运用B-S模型评估,该项目未来的价值大于初始的投资成本,企业可以进行投资。
For the technical innovation investment projects with stronger uncertainty, when the evaluation is carried out by using of B-S model in the real options method, the future uncertainty value of the project is considered, and the results are more accurate than traditional NPV method. In this paper, a new product development project in company A is taken as an example, by using B-S model, the future value of the project is greater than the initial cost of investment, therefore the investment decisions can be carried out.
出处
《辽宁科技大学学报》
CAS
2011年第4期417-420,共4页
Journal of University of Science and Technology Liaoning
关键词
企业技术创新
投资项目
项目评估
B-S模型
technical innovation
investment project
project evaluation
B-S model
