财经理论与实践2025，Vol.46Issue(4)：51-58,8.DOI:10.16339/j.cnki.hdxbcjb.2025.04.007
企业绿色转型项目投资决策问题研究
Research on Corporate Investment Decision-Making under Different Green Policies
摘要
Abstract
The proposal of China's carbon neutrality target has provided clear guidance for es-tablishing a national carbon trading market and promoting green and low-carbon transformation a-mong enterprises.This paper utilizes the real options approach to construct a valuation function for corporate emission reduction projects.We investigate the optimal investment timing for com-panies,their carbon emission levels,and enterprise value under two distinct green policies:car-bon trading markets and carbon taxes.Furthermore,we conduct a comparative analysis of the ad-vantages and disadvantages of these two policies.Our findings indicate that the effects generated by these policies vary significantly depending on a company's financial status and market condi-tions.关键词
碳交易/碳税/实物期权Key words
carbon trading market/carbon tax/real options分类
管理科学引用本文复制引用
宋丹丹,时瑜..企业绿色转型项目投资决策问题研究[J].财经理论与实践,2025,46(4):51-58,8.基金项目
国家自然科学基金项目(72373039) （72373039）
