实物期权

在此基础上，利用实物期权理论建立了RD投资项目决策中实物期权定价模型，并运用以上模型对一医药企业的RD投资项目决策进行了分析研究。

Furthermore , a pricing model for R & D item is build based on real option theory .

实物期权在高速公路BOT投资中的应用

The Application of Real Option Theory in the Highway BOT Investment

基于实物期权方法的FDI时机问题研究

Study on the Decision of FDI Timing Based on Real Options Approach

3G牌照实物期权参量的敏感性分析

The Parameters Sensitivity Analysis of 3G-license Real Option

基于模糊实物期权的基础设施BOT项目价值研究

Application Study of Fuzzy Real Option in BOT Infrastructure Project

第二章尝试创建了融合实物期权思想的FDI理论。

In the chapter 2 , we tried to establish a FDI theory combined with real options thinking .

基于市场的战略柔性是指公司产生配置和重新配置优越的顾客价值的实物期权（RealOption）的意图和能力。

Strategic flexibility based on market refers to the intention and ability which a company has when producing the real option to configure and reconfigure superior customer value .

利用实物期权理论与方法构建高技术企业协作RD网络的战略价值评估模型，得出高技术企业协作RD网络的柔性价值方程；

Utilizing real option theory and method , we construct strategic value assessment model of high-tech enterprise cooperative R & D networks , and get its flexible value equation .

利率市场化与信贷配给&一个基于IRR的实物期权模型

Interest Rate Liberalization and Credit Rationing ; A Real Option Model Based on IRR

由于RD项目属于高风险项目，因此本文对RD项目所具有的各种可能的风险因素进行了深入分析，鉴别了可能存在的实物期权。

As R D project belongs to the high risk project , all kinds of risk element that can exist in R D project are analyzed and the Real Options that can exist in R D project are identified .

在3G牌照何时发放、如何定价以及数量几多的广泛讨论过程中，有关于构成3G牌照实物期权参量的敏感性问题一直未引起注意。

Sensitivity of parameters that constitute 3G license does not attract much attention during the talks of when 3G license would be issued , how issued , and how much it would be issued .

它不但找回DCF方法所低估的价值，还运用自身的优越性，帮助企业生成各种不同的实物期权（决策灵活性），从而增加了创业企业在高风险情况下的价值。

It could get back the underestimated value of DCF and help enterprises create various real options ( decision flexibility ), consequently , adding the value during high risks .

一种基于实物期权的产能预订模型提供一种Stackelberg博弈机会，供应商决定最优的产能期权价格，而采购商优化产能柔性预订的数量。

So a real-option-based flexible capacity reservation model provide an opportunity for supplier select optimal capacity option pricing and buyer determine their optimal capacity reservation through Stackelberg game .

运用实物期权理论研究发电商短期内的运行资产价值，并引入了VaR风险价值的概念，对短期内发电商运行的价值进行了风险评估。

The real option theory was applied to study the generation assets value of the power suppliers over a short-term period and the VaR risk value was introduced for the risk evaluation of the short-term generation assets value .

最后本文应用实物期权方法对某企业SzS大型光伏并网电站项目进行实证分析。

Finally this paper applied this real option frame in evaluation of SZS large grid-connected PV power generation project .

本文假设竞争的并购企业之间、成功的并购者和目标企业之间关于并购成败的信息不完美，管理者自大，利用实物期权博弈论方法，研究生产函数为Cobb-Douglas函数情形企业并购的时机和条件。

Incorporating imperfect information about the success and failure among competing bidders , this paper presents a model of acquisitions with a Cobb-Douglas production function .

通过分析传统NPV方法和一般实物期权决策方法对技术开发投资估价的不足，引入了亚式期权方法，把实物期权和亚式期权结合起来，对技术开发投资决策进行了研究。

Traditional NPV methodology and general real option method have limitations in evaluating the investment of technological exploitation . In this paper , Asian option methodology is introduced and associated with real option .

参照一篮子期权的几何平均B-S期权定价模型，给出了基于实物期权的多项土地资源储备与开发的算术平均收益的夏普比率优化目标函数。

The objective Sharpe ratio function of land development arithmetic average value portfolio is deduced based on the geometric average B-S model of the basket options in the paper .

实物期权PF-NA识别估价模型及实证研究

The PF-NA Distinguishing and Valuing Model of Real Options and Demonstration Study

最后利用Copeland和Antikarov[1,2]提出的求解实物期权的步骤，对一个新兴技术企业价值进行评估。

At last , We make use of real options framework of Copeland & Antikarov ~ [ 1,2 ] to evaluate one new firm with development of emerging technology .

而高科技企业中专利权、序列投资项目等具有期权的特征，基于实物期权理论对高科技企业的IPO进行定价也就具备了可行性。

The patent and investment project of the array possess the characteristics of option , we can carry on valuation to them by the methods of real option , so it possess feasibility on pricing IPO in high-tech enterprise on the basis of real option theory .

最后，本文研究了关于二氧化碳排放权的清洁发展机制（CDM）项目的案例，分析项目中存在的实物期权并进行价值分析，进而为我国开展CDM项目提供相关建议。

Finally , the paper analyzes the case study of Clean Development Mechanism ( CDM ) projects by discussing the potential value of this projects and pricing these real options , and then gives some recommendations for China to develop CDM projects .

第三，运用实物期权评价法得出的林业投资项目价值包括两部分内容：一部分为传统静态被动的NPV现金流，另一部分为适应决策灵活性的期权价值。

Third , there are two parts in the value of a forestry project evaluated by real option analysis , one is net present value gained through traditional evaluation method , the other is option value which can accommodate dynamic of the decision .

因此，在对金融期权定价理论进行基本介绍的基础上，重点分析了二项式方法和Black-Scholes定价模型在实物期权中的应用。

Therefore , a brief introduction to financial option valuation theory is given first . On the basis of this , the chapter presents detailed analyses of the application of the Binomial Option Valuation Model and the Black-Scholes Valuation Model in real options .

本文利用实物期权理论分析了嵌套于投资项目中的各种期权形式，并以退出期权为例阐释了DCF模型的不足与项目投资决策模型的修正。

This paper first analyses the types of real options embraced in projects , and the disadvantages of discounted cash flow ( DCF ) and then , taking exit options as an example , explores the revision of the decision-making model of project investment by means of real options theories .

国际航运投资决策应用实物期权方法的分析

Applying Real Options Approach in Analysis of International Shipping Investment Decisions

实物期权评价方法及波动率全周期估算研究

Study on Economic Evaluation and Periodic Volatility Estimation in Real Options

实物期权定价理论与非共识项目评价研究

The Research of Physical Option Pricing Theory and Non-Consensus Project Evaluation

基于实物期权方法的铁路预留双线项目评估

Evaluation of Reserved Double Line Project based on Real Option Method

高新技术项目评价的实物期权法探讨

A Study of Real Option Method in Evaluation of High-tech Projects