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R&D项目作为企业新产品或新技术研发的核心项目,不仅是企业保持市场竞争优势的关键,也是企业实现长期战略目标的基础。因此,对R&D投资项目做出正确的评估与决策对管理者而言至关重要。本文以国内外研究文献为依据,从早期的R&D项目估值方法进行追溯,重点综述实物期权估值理念的发展和演进,然后落脚于复合实物期权估值方法的应用以及最新的研究进展,最后对R&D项目的研究现状展开评述。
R & D project as a new product or new technology research and development of core projects, not only is the key to maintaining competitive advantage of the market, but also the basis for enterprises to achieve long-term strategic goals. Therefore, making the right assessment and decision-making of R & D investment projects is crucial to the manager. Based on the domestic and foreign research literature, this paper traces back to the early R & D project valuation methods, and focuses on the development and evolution of the real option valuation theory, and then settles on the application of the composite real option valuation method and the latest research progress, and finally Review the research status of R & D project.