基于实物期权法的碳资产评估研究

发布时间：2018-01-01 08:20

本文关键词：基于实物期权法的碳资产评估研究　出处：《合肥工业大学》2017年硕士论文　论文类型：学位论文

更多相关文章： 碳资产 价值评估 实物期权 B-S模型

【摘要】：全球日益严重的气候变化问题导致发展低碳经济成为人类的必然选择,在“碳约束”条件下产生的碳资产受到各国和相关组织的高度重视。随着我国政府节能减排工作力度的加大,与碳资产相关的交易活动在逐步丰富,与碳资产评估和管理相关的需求也在快速增长。目前碳资产评估行业正处于起步阶段,在理论、方法和实践等环节都与传统资产评估存在较大差别。因此,对碳资产评估的相关理论和方法进行研究有着重要的理论意义和实践意义。本研究首先从各个角度系统地梳理了碳资产的概念,从资产评估的角度明确了碳资产的定义,然后分析了碳资产的特征并依据不同的标准进行了详尽地分类,研究了国际碳排放权交易市场和我国碳排放权交易市场的发展状况。其次,进行了资产评估三大传统方法和实物期权法的适用性分析,从实物期权原理、特征、应用和常用模型介绍了实物期权法并探讨了碳资产的实物期权属性。再次,分析基于配额的碳资产价值并构建了相应的模型,分析基于项目的碳资产价值并运用实物期权法中的B-S模型结合具体市场案例对其进行价值评估。通过估算发现,实物期权法能更加全面地评估基于项目的碳资产价值,不仅包含当前确定性价值还包含未来不确定性价值。最后,从理论研究、制度、监管、人才、信息及碳资产管理六个方面提出碳资产评估的发展建议。
[Abstract]:The increasingly serious global climate change problem has led to the development of low-carbon economy has become the inevitable choice of human beings. Carbon assets generated under the "carbon constraint" conditions are highly valued by countries and relevant organizations. With the increase of energy conservation and emission reduction efforts of our government, trading activities related to carbon assets are gradually enriched. The demand related to the assessment and management of carbon assets is also growing rapidly. At present, the industry of carbon asset assessment is in its infancy, and there are great differences between the theory, method and practice and traditional asset assessment. It is of great theoretical and practical significance to study the relevant theories and methods of carbon asset assessment. Firstly, the concept of carbon asset is systematically combed from various angles. The definition of carbon assets is defined from the perspective of asset evaluation, and then the characteristics of carbon assets are analyzed and classified in detail according to different criteria. The development of international carbon emissions trading market and China carbon emissions trading market is studied. Secondly, the applicability analysis of three traditional methods and real options method is carried out, from the principle and characteristics of real options. This paper introduces the real options method and discusses the real option properties of carbon assets by using and common models. Thirdly, the paper analyzes the value of carbon assets based on quotas and constructs the corresponding model. This paper analyzes the value of carbon assets based on project and evaluates it by using B-S model of real options method combined with specific market cases. Real options method can more comprehensively evaluate the value of carbon assets based on projects, including not only the current deterministic value but also the future uncertain value. Finally, from the theoretical research, system, regulation, talent. Six aspects of information and carbon asset management are proposed to develop the assessment of carbon assets.
【学位授予单位】：合肥工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.68;X196;F832.5

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