CAJ | 학술논문

在军转民成为当今世界发展潮流的今天,军转民土地开发与民用土地开发具有面临市场不确定性的共同特征,故将期权决策模型引入到军转民土地开发中有利于军转民土地项目开发的科学决策.在回顾相关文献的基础上,建立了基于实物期权的基本模型,并对模型进行了求解以计算出执行期权的临界价格.最后,结合某军转民项目的开发实例,对建立的模型进行了应用分析,证实了模型的实用性.
재군전민성위당금세계발전조류적금천,군전민토지개발여민용토지개발구유면림시장불학정성적공동특정,고장기권결책모형인입도군전민토지개발중유리우군전민토지항목개발적과학결책.재회고상관문헌적기출상,건립료기우실물기권적기본모형,병대모형진행료구해이계산출집행기권적림계개격.최후,결합모군전민항목적개발실례,대건립적모형진행료응용분석,증실료모형적실용성.
Military to civilian conversion becomes a global trend now. As market developments of land project in civilian and military to civilian conversion have the same characteristic of uncertainty, real option decision model can be introduced into scientific decision of the market developments. Based on relevant literature, a basic model composed of real option was framed, and the critical price of exercise real option was calculated with the model. Practicability of the model was verified by applied analysis method based on a developing example of a certain project for military to civilian conversion.