A Study On Investment Decision-making Of The New Fixed-network Telecom Service Provider In China

This thesis regards the investment decision-making for the new fixed-network telecom service provider in China(such as the south branch of China Netcom Group Corporation and China TieTong Telecommunication Corporation) as the main studying object. We apply the investment decision-making theory and the competition strategy theory to analysis the situation and problems of the New fixed telecom service provider. Proposed that we should lead the enterprise in obtaining the competitive advantage through the effective investment decision. While making the investment decision,we should consider not only the financing factors but also the non-financing factors which due to competition factor, and analysis the investment by the investment recovery period,the investment scale and the investment in the new technology.Firstly, as the investment recovery period one of policy-making factors issue , we establish investment recovery period mathematical model, and take this as the basis in the establishment of dynamic investment recovery period decision-making model (including single plan dynamic investment recovery period decision-making model and multi-plan investment recovery period decision-making model), and giving the concrete decision criteria to help the new fixed-network telecom service provider choose the optimal investment projects based on investment recovery period,and fixing uncertainty influence factor( investment scale, business income and cost of operation) of investment recovery period for the new fixed-network telecom service provider by analytic hierarchy process(AHP).Secondly, as the investment scales issue ,establish the greatest NPV investment scale decision-making pattern with no fund restraint as well as the funds utilization investment scale decision-making pattern with fund restraint . And as the project which investment scales flexible for the new fixed-network telecom service provider ,the best scale of investment should be set between the two investment scales which make the NPV and the NPVR reach highest point respectively.Lastly ,we value the investment in new technology project for the new fixed-network telecom service provider(such as the south branch of China Netcom Group Corporation) by making use of the Real Option Approach and compare with the result which using original method ,...