CAJ | 학술논문

风险投资项目面临着很大的不确定性，包括市场性的和非市场性的，在以往的文献中大多都针对市场性的不确定性进行研究，文章研究了非市场性的不确定性对风险项目投资时机的影响。文章首先通过构造突发事件对风险项目影响的模型，并进行了推理，最后用数值分析的方法对其进行了模拟，结果表明：在同等情况下，突发事件对风险项目收入流影响越大，其投资的时机也就越晚；突发性事件发生的频率越大，其要求的投资时机也是越晚。
풍험투자항목면림착흔대적불학정성，포괄시장성적화비시장성적，재이왕적문헌중대다도침대시장성적불학정성진행연구，문장연구료비시장성적불학정성대풍험항목투자시궤적영향。문장수선통과구조돌발사건대풍험항목영향적모형，병진행료추리，최후용수치분석적방법대기진행료모의，결과표명：재동등정황하，돌발사건대풍험항목수입류영향월대，기투자적시궤야취월만；돌발성사건발생적빈솔월대，기요구적투자시궤야시월만。
Venture capital projects are faced with great uncertainties, including market and non - market in nature, in the past most of the literature are studied about the uncertainty of market, this paper studied the uncertainty of non - market how to impact the investment timing of the Venture capital projects. In this paper, the model of the unexpected events impacting the Venture capital projects is presented, and a reasoning, the final numerical analysis of their simulation results show that： in the same circumstances, the unexpected events on the impact of the income stream of the project the greater, the timing of investment will be the later, the greater of the incident frequency, the timing of its investment is also required the later