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題名:企業投資之實質選擇權評價
作者:吳明政 引用關係
校院名稱:國立政治大學
系所名稱:財務管理學系
指導教授:顏錫銘
學位類別:博士
出版日期:2002
主題關鍵詞:資本預算管理彈性
原始連結:連回原系統網址new window
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  • 點閱點閱:35
建立適當的資本投資決策,對於企業未來的發展具有深遠的影響。如何能擬定出適合的資本預算計畫,以增加公司的成長機會與競爭能力,便是當前重要的課題。本論文以三個階段探討企業投資歷程中所具有的實質選擇權評價:包括對於計畫案擬定之初期,進行投資機會價值評估的實質成長選擇權。以及針對投資計畫開始進行時,管理者所擁有的各種管理彈性,如遞延、擴張、縮減與暫停投資的決策彈性,進行多重實質選擇權的價值評估。最後,針對未能順利成功的計畫案,管理者擁有將其永遠放棄,以收回投資成本殘值的實質放棄選擇權價值進行評估。
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