碩士 / 淡江大學 / 財務金融學系碩士班 / 93 / On the grounds of an investor, the main evaluation on the investment lies in the estimate of risks and profits. In fact, approaches are quite diverse .Traditionally, there are NPV, IRR, payback period method, Accounting Rate Return Method and ect. These projects are brief and simple conceptually, but in practice they are non- flexible .With a view to tackling the drawbacks of conventional finance project. Real option, which is far more flexible, started to be adapted in major investments in the late 1970s. Meanwhile, it works in many other aspects. In China mainland, all land is nationalized and can''t be claimed by an individual. Instead, land can be on loan for various purposes. As soon as a lease runs out, nobody is allowed to claim his right. Hotel industry is special, but it is similar to construction industry in some respects. Both are supposed to pay most cost in the initial stage. On the other hand, the former can''t bring in until it opens. What impact on the initial value does NPV exert? What will happen if real option should be practiced? These questions above are worth further exploration.
| Identifer | oai:union.ndltd.org:TW/093TKU05214056 |
| Date | January 2005 |
| Creators | Tian-Chien Chen, 陳天健 |
| Contributors | Jong-Rong Chiou, 邱忠榮 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 45 |
Page generated in 0.0013 seconds