实物期权定价方法在矿业投资评价中的应用
The application of real option method for mining investment
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摘要: 传统的矿业投资评价方法净现值法,在应用中的缺陷日益显露。从广义的期权定义中引出实物期权的概念,通过比较分析,引出实物期权定价公式;用实物期权方法对传统决策方法进行修正;为正确做出矿业风险投资决策提供指导。Abstract: NPV method,the traditional assessment method for mining investment,has gradually revealed its shortcomings in practice.Derive the concept of real option from generalized definition of option,and then derive the real option pricing formula by means of comparative analysis.Revise traditional decision making method with real option method.Provide guidelines for venture capital decision making in mining industry.
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