| 基于实物期权的创业投资资本资产定价模型 |
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| 引用本文： | 闫梅. 基于实物期权的创业投资资本资产定价模型[J]. 经济问题, 2009, 0(9) |
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| 作者姓名： | 闫梅 |
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| 作者单位： | 河南科技大学经济与管理学院,河南,洛阳,471003 |
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| 摘 要： | 创业投资的特质与实物期权方法有实质的契合性,表现在创业投资的风险水平同实物期权的波动率之间。创业投资的分期投资与实物期权的期权价值之间有着密切的关联性。这种内在契合性是运用实物期权方法研究创业投资定价研究的基础。基于Black-Scholes偏微分方程的实物期权模型构造的多期创业投资的实物期权定价模型,更具现实解释力。
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| 关 键 词： | 创业投资 资本资产定价 实物期权 |
Based on Real Options Venture Capital Capital Asset Pricing Model |
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| YAN Mei. Based on Real Options Venture Capital Capital Asset Pricing Model[J]. On Economic Problems, 2009, 0(9) |
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| Authors: | YAN Mei |
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| Affiliation: | School of Economics & Management;Henan University of Science&Technology;Luoyang 471003;China |
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| Abstract: | The characteristics of venture capital correspond with real options method in real terms,in form of close relevance between the risk level of venture capital and volatility of real options,and between Phased investment of Venture Capital and the option value of real options.This inherent fit is the basis to Research on pricing Venture Capital with real option method.This article constructed a Real Option Pricing Model of multi-stage venture capital Based on the real option model of Black-Scholes partial dif... |
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| Keywords: | venture capital capital asset pricing real options decisionmaking model volatility |
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