科研管理

科研管理 ›› 2008, Vol. 29 ›› Issue (4): 71-75 .

• 论文 • 上一篇    下一篇

基于实物期权的集成电路布图设计投资决策分析

郭岚1，张祥建2，徐晋3   

  1. 1.上海社会科学院，上海200020；
    2.上海财经大学 财经研究所，上海200433；
    3.上海交通大学 经济与管理学院，上海200030
  • 收稿日期:2007-05-08 修回日期:1900-01-01 出版日期:2008-11-20 发布日期:2008-11-20

he investment decision of integrated circuit layout design based on the real option approach

Guo Lan1， Zhang Xiangjian2， Xu Jin3   

  1. 1. Shanghai Academy of Social Science， Shanghai 200020，China;
    2. Institute of Finance and Economics， Shanghai University of Finance and Economics，Shanghai 200433，China;
    3. School of Economics and Management，Shanghai Jiaotong University，Shanghai 200030，China）
  • Received:2007-05-08 Revised:1900-01-01 Online:2008-11-20 Published:2008-11-20

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摘要： 以集成电路布图设计为核心的微电子技术产业是当今世界高新技术的高密度交叉点，并逐步发展成为各科技产业之间的引导性科技领域。本文针对集成电路布图设计价值的不确定性和产业化之后利润的不确定性，基于实物期权方法构造了集成电路布图设计产业化过程中的投资决策模型，分析了集成电路布图设计的实物期权价值和最优投资决策的选择问题。本文的研究有助于促进我国集成电路布图设计和微电子技术产业的发展和升级。  

关键词: 集成电路, 布图设计, 实物期权, 投资决策

Abstract: Nowadays, the micro-electronics technology industry based on the integrated circuit layout design is a across point of high technology in the world， and gradually becomes the leading region of many high technology industries. Considering the uncertainty of integrated circuit layout design value and profit after industrialization， the model of investment decision based on the real option is put forward， and the investment decision and its influence are analyzed. It can promote the development and upgrade of integrated circuit layout design and micro-electronics technology industry.

Key words: integrated circuit, layout design, real option, investment decision

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