本文選題：房地產(chǎn)開發(fā) + 投資決策��； 參考：《東北大學》2013年碩士論文

【摘要】：最近幾年我國房地產(chǎn)行業(yè)持續(xù)快速發(fā)展,已經(jīng)成為我國的支柱產(chǎn)業(yè)。隨著房地產(chǎn)市場機制的不斷深化和完善,競爭越來越激烈,決策者更加重視對投資決策方法的分析與研究。如何利用科學有效的評價方法對房地產(chǎn)項目進行投資決策,是決策者急切要解決的問題。實物期權(quán)是一種來自于金融衍生工具的新理論方法,基于實物期權(quán)方法的投資決策方法把項目的靜態(tài)NPV加上期權(quán)價值,以此彌補傳統(tǒng)方法的不足。 本文運用演繹法進行研究,采用理論分析與實證分析相結(jié)合、模型分析與邏輯分析相結(jié)合的分析方式,用定性分析和定量分析相結(jié)合的方法,構(gòu)建模型來進行實踐。在對我國房地產(chǎn)行業(yè)、房地市場進行回顧和分析的基礎上,通過對房地產(chǎn)投資決策領域的研究文獻的剖析和對實際應用方法的了解,對現(xiàn)行的房地產(chǎn)投資決策的主要方法進行分析和評價。分析傳統(tǒng)投資決策理論和方法的局限性,并介紹了實物期權(quán)基本理論,對影響房地產(chǎn)投資決策的因素進行了分析,發(fā)現(xiàn)房地產(chǎn)投資決策中的期權(quán)因素,用基于實物期權(quán)的定價模型對房地產(chǎn)投資決策進行數(shù)理分析,得到了實物期權(quán)方法的合理性與科學性。通過文獻、理論和應用研究相結(jié)合的方式,采用定性和定量分析結(jié)合的方法,對實物期權(quán)在房地產(chǎn)項目中的應用做出了系統(tǒng)的表述,并對房地產(chǎn)投資決策中的實物期權(quán)特性進行分析,構(gòu)建相應的分析框架,并對實物期權(quán)模型進行實證研究。 最后,對本文的主要研究工作進行了總結(jié),結(jié)合我國的實際情況,從政策、企業(yè)、消費者的角度提出了優(yōu)化房地產(chǎn)投資決策的相關建議和對策,并對實物期權(quán)方法在房地產(chǎn)投資決策中的未來發(fā)展趨勢進行了展望。
[Abstract]:In recent years, China's real estate industry continues to develop rapidly, has become a pillar industry in China. With the deepening and perfection of the real estate market mechanism, the competition is becoming more and more intense, and the decision makers pay more attention to the analysis and research of the investment decision methods. How to use scientific and effective evaluation methods to make investment decisions on real estate projects is an urgent problem to be solved by decision makers. Real option is a new theoretical method from financial derivatives. The investment decision method based on real option method adds the static NPV of the project to the option value to make up for the deficiency of the traditional method. In this paper, the deductive method is used to study, the combination of theoretical analysis and empirical analysis, the combination of model analysis and logical analysis, the combination of qualitative analysis and quantitative analysis, the construction of a model to carry out practice. On the basis of reviewing and analyzing the real estate industry and the real estate market in our country, through the analysis of the research literature in the field of real estate investment decision-making and the understanding of the practical application methods, The main methods of real estate investment decision are analyzed and evaluated. This paper analyzes the limitations of the traditional investment decision theory and methods, introduces the basic theory of real options, analyzes the factors that affect the real estate investment decision, and finds out the option factors in the real estate investment decision. The real option pricing model is used to analyze the real estate investment decision, and the rationality and scientific nature of the real option method are obtained. Through the combination of literature, theory and application, the application of real option in real estate project is systematically described by the method of qualitative and quantitative analysis. The real option characteristics in the real estate investment decision are analyzed, the corresponding analysis framework is constructed, and the real option model is empirically studied. Finally, this paper summarizes the main research work, combined with the actual situation of our country, from the perspective of policies, enterprises, consumers, put forward the relevant suggestions and countermeasures to optimize the real estate investment decision. The future development trend of real option method in real estate investment decision is prospected.
【學位授予單位】：東北大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F299.23

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本文編號：1840449