InP-based photonic circuits Comparison of monolithic integration techniques Optimization of passive【DOC精选】.docVIP

下载本文档

0
0
约 5页
2017-02-16 发布于江苏
举报
版权申诉

InP-based photonic circuits Comparison of monolithic integration techniques Optimization of passive【DOC精选】.doc

1、本文档共5页，可阅读全部内容。
2、原创力文档（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。
5、该文档为VIP文档，如果想要下载，成为VIP会员后，下载免费。
6、成为VIP后，下载本文档将扣除1次下载权益。下载后，不支持退款、换文档。如有疑问请联系我们。
7、成为VIP后，您将拥有八大权益，权益包括：VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
8、VIP文档为合作方或网友上传，每下载1次，网站将根据用户上传文档的质量评分、类型等，对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档

?Close preview??|?? Related articles??|??Related reference work articles???? AbstractAbstract | Figures/TablesFigures/Tables | ReferencesReferences Abstract This paper applies real options theory to overseas oil investment by adding an investment–environment factor to oil-resource valuation. A real options model is developed to illustrate how an investor country (or oil company) can evaluate and compare the critical value of oil-resource investment in different countries under oil-price, exchange-rate, and investment–environment uncertainties. The aim is to establish a broad model that can be used by every oil investor country to value overseas oil resources. The model developed here can match three key elements: 1) deal with overseas investment (the effects of investment environment and exchange rates); 2) deal with oil investment (oil price, production decline rate and development cost etc.); 3) the comparability of the results from different countries (different countries oil-investment situation can be compared by using the option value index (OVI)). Chinas overseas oil investment is taken as an example to explain the model by calculating each oil-investee countrys critical value per unit of oil reserves and examining the effect of different factors on the critical value. The results show that the model developed here can provide useful advice for Chinas overseas oil investment program. The research would probably also be helpful to other investor countries looking to invest in overseas oil resources. Article Outline 1. Introduction 2. Literature review 2.1. Real options 2.2. Investment environment 3. Model 3.1. Valuation of overseas oil reserves 3.2. Oil-investment option model 3.3. Evaluation of the investment–environment multiplier 3.4. Critical value of oil-reserve investment 4. Evaluation of Chinas overseas oil-investment activity 4.1. Data preparation 4.1.1. Country selection 4.1.2. Tax, exchange, and interest rates 4.1.3. Oil-production costs 4.1.4.