A Modified Method of Mining Investment Assessment under Uncertainty

摘要：

The traditional assessment method for mining investment, has gradually shown its shortcomings in practice. This paper derives the concept of real option from generalized definition of option, and then derives the real option pricing formula by means of comparative analysis. Traditional decision making method is revised by real option method with Black-Scholes model, and guidelines are provided for venture capital decision making in mining industry. Finally, the paper comes to the conclusion that irreversibility, flexibility and uncertainty can be evaluated by the modified model in mining investment decision making.

作者: Xie Yaheng

作者单位: School of Resources and Environmental Engineering,Wuhan University of Technology,Wuhan,P.R.China,430070

会议类型: 国际会议

会议名称: The 7th International Conference on Innovation and Management(第七届创新与管理国际会议 ICIM 2010)

会议地点: 武汉

会议语种:英文

页码: 2067-2070

在线出版日期: 2010-12-04（万方平台首次上网日期，不代表论文的发表时间）