作　　者： ;

机构地区： 暨南大学管理学院

出　　处： 《财会通讯（中）》 2015年第8期3-5,129,共3页

摘　　要： 在多元化战略投资中,企业资源和政府干预是两个重要的影响因素。本文基于期权博弈视角,将企业资源视为实物期权,同时考虑政府干预对博弈双方策略选择的影响。结果表明,在政府对博弈双方干预程度相同与不同两种情况下,当存在政府干预时,如果立即投资收益和延迟投资损失都足够大,博弈主体会同时放弃延迟投资而选择立即投资作为最优策略。 Enterprise resources and government intervention are two important factors in diversification investment.Based on Option Game theory,this paper takes enterprise resources as real options to discuss the effects of government intervention on strategy choice of game players.The result shows that if both the income from immediate investment and the losses from delayed investment are large enough when there is government intervention,despite of the degree of government intervention,game players will choose immediate investment but not delayed investment as the optimal strategy.

关 键 词： 多元化战略投资 企业资源 政府干预 期权博弈

领　　域： [政治法律—政治学] [政治法律—中外政治制度] [经济管理—企业管理] [经济管理—国民经济]