| 基于实物期权理论的IT基础设施投资评价研究 |
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| 引用本文： | 胡振华,张尔斯.基于实物期权理论的IT基础设施投资评价研究[J].成都师专学报,2006,25(3):51-54. |
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| 作者姓名： | 胡振华 张尔斯 |
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| 作者单位： | 中南大学商学院,湖南长沙410083 |
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| 摘 要： | IT基础设施投资是信息化建设的基础条件,如何对这一战略投资进行合理评价是企业决策者最关心的问题.本文在充分阐述实物期权评价IT基础设施投资的必要性以后,借助具体的应用案例,给出实物期权评价框架,比较运用NPV法、简单的增长期权方法、复合期权方法对其进行评价后得出结论：实物期权理论,尤其是其中的复合期权方法更能客观地评价IT基础设施投资的实际价值.
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| 关 键 词： | IT基础设施 实物期权 投资评价 复合期权 |
| 文章编号： | 1672-8505（2006）03-0051-04 |
| 收稿时间： | 2006-05-10 |
Research of Evaluating the IT Infrastructure Investment Based on the Theory of Real Options |
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| HU Zhen-hua,ZHANG Er-si.Research of Evaluating the IT Infrastructure Investment Based on the Theory of Real Options[J].Journal of Chengdu Teachers College,2006,25(3):51-54. |
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| Authors: | HU Zhen-hua ZHANG Er-si |
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| Abstract: | How to evaluate IT infrastructure investment, which is the foundation of information construction, is becoming a most caring question of enterprise policy-maker. After elaborating the necessity of using a real options approach, this paper carries on a real options frame with the aid of the concrete application case to evaluate the IT infrastructure investment through NPV, growth options and compound options separately. Results show that real options, especially compound options can ensure correct evaluation of IT infrastructure investment. |
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| Keywords: | IT Infrastructure Real Options Investment Evaluation Compound Options |
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