The Real Option Analysis of Investing in Technology Innovations - Case Study for the Intelligent Tumor Thermotherapeutic System

摘要

The fierce competition of the current markets requires that businesses assign a higher weight to the technology innovation. As a major component of business technological innovation, R&D has become the key means for all businesses to gain competitive advantages, and thus how to value R&D investment becomes an important issue in the management of technological innovation. This paper offers a real case of technological innovation program, the quadranomial pricing method of real options is used to quantitatively analyze and decide on the R&D program. It is desired that the analysis in this paper have practical and consultant value to the practice of project investment decisions in technological innovations.