实物期权定价模型在我国应用的障碍分析

实物期权评估方法是20世纪应环境变化的要求发展起来的新的项目评估方法之一。我国的项目评估研究和实践领域也高度关注该方法,以应对今天复杂多变的经济环境。但是,我国目前经济环境特征决定了国外模式在我国不能完全适应,我们在和世界接轨的时候,也必须做出改进。本文结合我国经济环境详细分析了实物期权两种定价模式中各个定价参数在获得过程中所面对的部分障碍,为今后期权评估方法在我国的应用提出部分建议。

Analysis to Obstacles in Application of Real Option Pricing Model in our Country

R eal option valuation approach is one of the new methods that d ev el-oped in conformity with the request o f changing in environment in the 20t h century.Valuation research and pra ctice field in project pay highly attentio n to this new method,in order to reply the complicated and changeable economi c environment today.However,the economic environmental characteristi c has de- termined that the foreign model can' t totally suit in our country at prese nt, we must improve when integrating to the world.This text has explained some o b -stacles under the circumstances in o ur country faced by every parameter i n t wo kinds of pricing models of the real op tion method,and put forward some sug -gestions for the real option method i n the future.