Quantitative Study on the Pricing of Returning Right of New Products Based on the Real Options

摘要：

The development of new products,especial for a high- tech enterprise,is an important way to meet social demands. Unmarketable risk of new products is a major risk with which distributors and manufacturers have to face. In order to realize the thought of sharing the risk and benefit altogether by distributors and manufacturers,using the research technique of real option,this paper design a kind of returning right of new products and analyze quantitatively the unmarketable risk of new products borne by distributors and manufacturer separately by means of rational pricing of their returning right and try to calculate the possible range of the cost to reduce risk.

关键词： Risk-free hedge the returning right put option,pricing

作者: Deng Chao Liu Hongfang Belinda Bai

作者单位: School of Business,Central South University,410083,China Brighton Business School,University of Brighton,UK

会议类型: 国际会议

会议名称: The First International Conference on Management Innovation(ICMI 2007)(管理创新会议)

会议地点: 上海

会议语种:英文

页码: 746-750

在线出版日期: 2007-06-04（万方平台首次上网日期，不代表论文的发表时间）