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近年来实物期权理论由于其动态性的特征越来越多地应用于资本预算及价值评估。常见的实物期权有扩张期权、时机选择期权和放弃期权,其中放弃期权计算较为复杂。本文拟将excel应用到放弃期权的计算分析中,以减少评价工作量。放弃期权是一项看跌期权,其标的资产价值是项目的继续经营价值,而执行价格是项目的清算价值。一个项目,只要继续经营
In recent years, real option theory has been increasingly used in capital budgeting and value assessment due to its dynamic characteristics. Common real options include options for expansion, options for options and abandonment of options, of which the abandonment of options is more complicated. This article will be applied to excel to give up the calculation of the option to reduce the evaluation workload. Abandonment option is a put option whose underlying asset value is the going concern value of the project and the strike price is the liquidation value of the project. A project, as long as continue to operate