A RESEARCH ON VALUE EVALUATION OF GARBAGE INCINERATION POWER GENERATION PROJECT BASED ON B-S MODEL

Ye Jinling, Ye Houyuan

Abstract


With the development of the economy and the accelerated process of urbanization, the amount of waste, such as domestic waste and industrial waste, is increasing rapidly, and the municipal solid waste is becoming a huge problem that hinders the development of the city. However, in the academia, there is no systematic evaluation method for the garbage incineration power generation project. So if we just simply apply the traditional evaluation method to the project, we would ignore the strategic value and ecological value of the project investment. Therefore, it is an urgent problem to find a new method of project valuation. In this paper, the B-S model of the option pricing model is selected, and on this basis, the market and policy factors that affect the model results are proposed. It is considered that the waste incineration power has the value of evaluation and the possibility of evaluating the results.

Keywords


Garbage incineration power generation project; Real option; B-S model; Project evaluation

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DOI: https://doi.org/10.23925/2179-3565.2019v10i3p96-101

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