基于期權定價理論的礦業工程評估模型
Mining Project Evaluation Model Based on Options Pricing Theory
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摘要: 折現現金流法是工程評估最常用的方法,但其低估了礦業開發價值.運用管理選擇權,遵循標準的期權定價過程,建立了礦業開發價值和礦業工程評估模型,為投資決策提供了新的思路和量化工具.Abstract: Discounted cash flow (DCF) techniques are widely used for valuing project investment. But this convention DCF has a pitfall that underestimates the value of the mine. Using mining management flexibility and following options pricing processes, new approach and quantitative tools to the value of a mine and the project evaluation are developed.