战略性投资

论文将组合实物期权评估方法应用于以ABC公司战略性投资为背景的案例中，验证了组合实物期权评估方法在不确定条件下投资决策中所具有的实用性。

On the basis of first and second part , the third part discussed the method 's application in the strategic investment case , validating the evaluating method of compound real-options is practicably in the investment decision under uncertainty .

著名的企业管理学教授沃伦·贝尼斯（warrenbeiennis）说过员工培训是企业风险最小，收益最大的战略性投资，人力资源已经成为生产要素中最活跃、最重要的因素。

The famous enterprise management professor warren bei ennis said " employee training is enterprise minimal risk , the biggest strategic investment returns ", Human resource has become the most active factors of production , is the most important factor .

但是，Kik也聘请了咨询机构来探索更多的战略性投资，据报道，其中包括将自身出售的可能性。

But it had hired advisers to explore more strategic investments , including , it was reported , a possible sale .

ISI引文索引是世界最著名的检索工具，得到世界用户的广泛关注，许多著名大学、机构乃至许多国家都把它作为一种战略性投资。

ISI quoted passage index is the most famous search tool of the world , get the extensive concern , a lot of famous universities and organization , and even a lot of countries regard it as one kink strategy investment .

在战略性投资方面的利益纷争的风向亦有所改变。

There are also renewed signs of interest in strategic deals .

增长期权理论在企业战略性投资价值评估中的应用

Application of Growth Option Theory in Business Strategic Investment Appraisal

战略性投资决策评价技术的探新

The Development of Evaluation Technique for Strategic Investment Decision

战略性投资决策的制定是当前公司高层管理者面临的最重要的挑战之一。

Strategic investment decision is one of the most important challenges that corporate management faces .

科技投入作为战略性投资，与国家和地区的强盛有着直接的支持关联。

As a strategic investment , S & T Input determine directly the prosperity of countries and regions .

二是为利润的长期增长进行战略性投资，继续推行向上游倾斜的政策。三是进行资产优化组合，剥离成本高、缺乏发展潜力的非战略核心资产，提高资本回报率。

By making strategic investments and continuing to rely on the up-stream sector for long-term increase in profits ;

船舶环保化对于造船企业和航运企业都是一项具有长远经济、社会效益的战略性投资。

Shipping environmental protection is a strategic investment for the ship-building and ship-enterprises with long-term economic and social benefit .

我们必须在哪里进行必须的战略性投资，从而不仅加强我们的安全，而且维护全球稳定？

And where must we make strategic investments that are required to enhance not only our security but global stability ?

本文分析了现实期权在战略性投资分析中使用的可能。在介绍现实期权的布莱克&休尔斯公式和它的六个因素时，说明了不确定性对计算的影响。

This paper analyses the possibility of using Black & Scholes formula to calculate real option in strategic investment and its six factors .

大型投资者还提出，他们正在做的是长期的战略性投资，而不是更容易受到汇率波动影响的短期投资。

Big investors also argue they are making long-term , strategic investments rather than short-term ones that might be more affected by currency swings .

战略性投资评价的传统方法，如回收期、会计收益率、投资报酬率、剩余收益和折现现金流等，在很多方面受到批评。

Traditional evaluation technique for strategic investment , using payback , rate of return , residual income and discounted cashflow was criticized in many ways .

主权财富基金或亚洲银行集团对德利佳华的任何战略性投资，都将标志着与过去六个月向西方银行的注资告别。

Any strategic investment in Dresdner Kleinwort by a sovereign wealth fund or Asian banking group would mark a departure from the capital injections into Western banks over the last six months .

国家宽带网是政府的一项重大的战略性投资，因此，我们有责任竭尽全力保护网络及其运载信息的完整性。

As such , and as a strategic and significant government investment , we have a responsibility to do our utmost to protect its integrity and that of the information carried on it .

创新工作需要创新精神支撑，需要创新的文化、创新的制度和创新的组织，需要激发创新者，需要战略性投资。

Innovation of self-dependence originates from the inherence consciousness in the enterprises ; Innovation needs supports from enterprising spirit , innovative culture , innovative system and innovative organizations , encouraged innovators and strategy investment .

首先，它从战略价值的角度对实物投资进行评价。它将单个投资项目与企业的总体发展战略、企业的整体价值联系起来，强调了战略性投资的价值。

At first the essay evaluate the real investment from the strategy value and connect the single investment project , the integral developing strategy and the integral value emphasizing on the value of strategy investment .

在定性分析双组合实物期权相互之间影响的基础上，提出双实物期权可加性测定模型，从而建立了组合实物期权在战略性投资价值评估中的应用框架；

On the base of qualitative analysis in the interaction between double compound real-option , the paper advanced double real-option additivity estimating model , then established the application frame of compound real-option in strategic investment evaluation ;

最后，本文探讨了公司战略性投资的非独立性、非线性及分形特征，并运用不依赖独立、正态分布假定上的分数期权定价模型对战略性投资的未来不确定性进行科学评估。

Finally , this paper explores the non-independence , the non-linearity , and the fractal of a strategic investment of a firm , and applies the fractional Brownian motion formula for option pricing to evaluate the uncertainties of a strategic investment scientifically .

在拉动内需，推动区域和产业经济结构调整，以及开启战略性投资的现实行动面前，信贷融资的运用空间已经非常有限，在产业融资方面的短板也愈发突出。

In stimulating domestic demand , promoting regional and industrial economy structure adjustment , and opening the real action of the strategic investment , the use of credit financing has very limited space , the short board also increasingly prominent in industry financing .

目前的企业价值评估方法忽略或无法计算出企业战略性投资可能带来的企业价值增长，从而会低估那些拥有重要战略性投资的企业价值，错过一些具有潜在成长机会的战略性投资项目。

Currently , the approaches on business appraisal ignore or could not work out the growth of enterprises value for its strategic investment , underestimate the value of the enterprises that has important strategic investment , and miss some strategic items with potential growth ability .

在此基础上，针对当代公司治理的国际性课题&中小投资者利益保护问题，提出了完善公司治理的战略性投资主体机制，并进行了实证分析。

Furthermore , in view of the protection of interests of the small and medium investors , which is still being an international issue , the mechanism of strategic investment entity for improving the corporate governance has been put forward and discussed with various examples .

第三章对跨国公司在华投资动因及方式进行了阐述，重点介绍了战略性直接投资客观原因以及跨国公司在华投资目前所采用的几种方式，尤其在BOT投资和TOT投资方面；

Chapter three explains the reasons and ways of MNCs ' investing in China , with an emphasis on the reasons of objective strategy investment and ways of MNCs ' investing in China , especially in BOT investment and TOT investment .

西格尔的研究和教学注重战略性长期投资。

Siegel has dedicated his research and teaching to strategic long-term investing .

各种不确定性因素使得企业的战略性项目投资面临的风险提高了。

All kinds of uncertain factors make the risk , which strategic investment project facing , higher .

作为一种高度风险型的战略性对外投资，应用得好，既可以优化资源配置又能够加速资本集中，使企业日趋大型化、多元化和国际化。

As a highly-risky strategic foreign investments , it can optimize resources , accelerate the capital centralization , in addition to and make enterprises get bigger , more diversified and internationalized .

若不是因为对豪华百货商店及西方其它类似资产的非战略性的投资，迪拜目前的境况会好得多。

Had it not been for the less strategic investments in luxury department stores and other similar assets in the west , then Dubai would have been in a much better shape today .

这家瑞典公司已经决定在欧洲停止非战略性活动的投资。

The Swedish company has decided to disinvest from non-strategic activities in europe .