Show simple item record

dc.contributor.author王志强
dc.contributor.author梁明锻
dc.contributor.author陈培昆
dc.date.accessioned2017-11-14T01:09:11Z
dc.date.available2017-11-14T01:09:11Z
dc.date.issued2005-01-10
dc.identifier.citation中国资产评估,2005,(01):16-18,34,6
dc.identifier.issn1007-0265
dc.identifier.otherZCPG200501005
dc.identifier.urihttps://dspace.xmu.edu.cn/handle/2288/140076
dc.description.abstract本文认为现金流折现法是一种 相对静态的价值评估方法,只有同时考虑资产 的收益现值及其内嵌的实物期权价值才能比较 准确评估未来不确定性特征比较明显的资产价 值。本文探讨了实物期权方法在自然资源、房地 产、研发项目及无形资产、柔性制造设备等资产 的价值评估中的运用,最后应用二叉树模型对 矿山开采权的评估案例进行了分析。 现金流折现法(以下简称DCF法)是一种传 统的价值评估方法,该方法认为资产或公司的 价值等于其预期现金流按照一定折现率贴现后 的现值。从理论上讲,如果能准确预测资产或公 司未来现金流,并对其相应的风险有个合理评 估,那么采用该方法就能较准确评估资产或公 司的内在价值。从20世纪60年代开始,DCF法 在欧美国家逐渐得到认同并被广泛使用。
dc.description.abstractThe authors believe DCF method is a relatively static valuation approach. If only both the NPV of the assets'benefits and its real options value are considered at one time, the value of the assets that will be obviously uncertain in the future could be appraised precisely. This article discusses the application of Real Options theory in the valuations of the natural resources, real estate, R&D projects, intangible assets and flexible manufacturing systems and etc. In the end, the Binomial Interest Rate Model is used to analyze the mining right valuation cases.
dc.language.isozh_CN
dc.title实物期权理论及其在资产评估中的应用
dc.title.alternativeReal Options Theory and its Application in Valuation
dc.typeArticle


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record