The application of real option in real state enterprise investment decision-making

被引：0

作者：

Zhang Shuo ^{[1
]}

Chang Ying ^{[1
]}

机构：

[1] Harbin Inst Technol, Sch Management, Harbin 150001, Peoples R China

来源：

Proceedings of 2006 International Conference on Construction & Real Estate Management, Vols 1 and 2: COLLABORATION AND DEVELOPMENT IN CONSTRUCTION AND REAL ESTATE | 2006年

关键词：

real option; net present value; submerged cost; bullish option; black-scholes model;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper analyzes the characteristics of the real estate business investment decision-making and the limitation of the traditional method which is used in the process of the real estate business investment decision-making, and then, presents that there are many factors in the traditional method that do not suit the real estate investment environment which contains many uncertain factors. Subsequently, the second part introduces the idea of real option, and then explains the model and application of the Black-Scholes real option evaluation model. This kind of method breaks through the limitation of the traditional method, and makes investment decision-making more scientific and rational compared with the old means. It is quite important for the real estate investment management.

引用

页码：1213 / 1216

页数：4

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