Analysis on Chinese Overseas Mineral Investment Based on Binomial-Tree Option Pricing Model

被引：0

作者：

Luo, Fei ^{[1
]}

机构：

[1] China Univ Geosci, Sch Humanities & Econ Management, Beijing, Peoples R China

来源：

PROCEEDINGS OF THE 2012 INTERNATIONAL CONFERENCE ON MANAGEMENT INNOVATION AND PUBLIC POLICY (ICMIPP 2012), VOLS 1-6 | 2012年

关键词：

overseas mineral investment; binomial-tree; real option; uncertainty;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Overseas mineral investment has high degree of risk; evaluation on the investment value of overseas mineral projects becomes a new research content. Real Option Pricing Method based on binomial-tree overcomes the rigidity of traditional NPV method, and well suits multi-stage and high-risk projects. This paper uses Binomial-tree Option Pricing Model to study overseas mineral developing rights whose sources of uncertainty is fluctuation of mineral prices and exchange rate as assumed, simulating it as American call option, finally makes investment decisions with option values of every stage through option pricing model.

引用

页码：1471 / 1475

页数：5