摘要
分析了传统投资项目估价方法的局限和实物期权估价法的优势,探讨了布莱克—斯科尔斯模型在投资估价中的应用及其不足,并在将该模型的五个参数转换为代表净现值和风险两个参数的基础上,提出构建二维坐标下无差异曲线的思路,以改进投资项目实物期权估价模型。
This paper point out the shortages of traditional methods and the superiority of the real option method in Black Scholes Model. The paper introduces the application of evaluation model and points out the shortages of it. The authors propose the option value pricing method which is based on the equivalent curve,and the transform from five parameters to two parameters as an improvement means.
出处
《山西财经大学学报》
CSSCI
2007年第2期109-112,共4页
Journal of Shanxi University of Finance and Economics
