摘要: |
根据生命周期理论分析了R&D项目在两阶段和多阶段模型中创造实物期权的过程及其复合期权的价值模型,并且进一步提出R&D项目的阶段性实物期权价值弹性,对于实物期权在项目投资评价中的应用将有一定的现实意义。 |
关键词: R&D项目 实物期权 多阶段 弹性 |
DOI: |
分类号:F224.5 |
基金项目: |
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R&D Project''''s Multi-phase Real Option Pricing-modeland Its Flexibility |
SHEN Yu-zhi ZHOU Xiao-fei
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Abstract: |
Based on the life cycle theory,it analyzes the creation and pricing-model of R&D project's real option in a multi-phase model. It puts forward the real option's flexibility which is instructive to R&D project's evaluation. |
Key words: R&D project,real option,multi-phase,flexibility |