Research On Evaluation Theory And Method Of S&T Investment Project

With all the technological process of economic integration have deepened, the contributes of science and technology for economic growth level continues to increase. S&T investment project evaluation as an important component of S&T management is promoting the cause of the sustained and healthy development of the National Science and Technology, the promotion of science and technology optimize the allocation of resources, improving the level of science and technology management and an important means of protection. For this reason the Chinese government has formulated a series of encouraging scientific and technological development, scientific and technological achievements into technology and the introduction of the policy, and encourage financial funds to enter this field. In this situation, how to give full play to science and technology investment project evaluation functions, and thus promote the science and technology project management quality and efficiency for the decision-making of enterprises to provide guidance, sum up experience, innovation, science and technology require investment projects on the theory and the evaluation methods to understand and Thinking .â… .The domestic and foreign S&T investment projects evaluation related reviewIn this paper, evaluation of investment in S&T projects at home and abroad related research results were reviewed to evaluate the project on course started on as the starting point. On the research of the S&T investment projects evaluation index system , the study of foreign investment mainly come from the risk evaluation index system of science and technology research and other investment projects index system of research and development underway and learn from the evaluation of the three major indicators of the banking system as the evaluation of this important indicators of support system, while domestic research in this area is mainly with China's actual conditions, the existing theoretical results abroad for additions and amendments to the country's scientific and technological investment projects assessment made valuable exploration, assessment of decision-making that general indicators. S&T investment projects on the Evaluation of research, this chapter on the study of the current domestic and international hot spots, that is real option evaluation methods and comprehensive integration of the status of research and development, domestic and international research and a comparative analysis, pointing out that China's current evaluation of investment projects in the field of science and technology and its shortcomings and to be perfected aspects.â…¡. The theoretical foundation of S&T investment project evaluationInvestment in science and technology research projects in-depth evaluation, we need to draw on extensive reference various theories, learn theory and methodology guidance. The theoretical basis for this paper include: System methods, and new welfare economics, the school system, public choice theory, the reasonable expectations School, multi - attribute utility theory and development economics.S&T investment projects assessment of the overall systems approach to the issue of this paper has provided an important ideological basis; Pareto theory that the new welfare economics assessment for the project has laid a solid theoretical foundation, its ideas, such as a measuring stick to certain norms of the community "welfare" and the level of change can be arranged for the socio-economic circumstances of different choices, and other items covered by the fundamental ideological assessment, the paper also provides a solid ideological basis for the theory; the core of the new system school of thinking that is the reality of the standardized behavior, tell us in the economic development of the technology assessment system also is based on norms, grasp the rules, and to make the economic judgment; public choice theory also enlightened that S&T investment projects evaluation itself is a collective decision-making, many experts participates and makes public decisions according the needs of economic and social development; School reasonable expectations of the view that the expected utility theory also tells our investment in technology assessment project is expected to fully reflect the future; multi - attribute utility theory is this comprehensive evaluation of the theoretical foundation, to benefit in this paper based on the theory of individual profitability and efficiency assessment, is uphold multi - attribute utility theory, from the economic, social, environmental, technical in the perspective of efficiency and running after a first division conducted systematic assessment method; Finally Development Economics pointed out that developing countries are unique, S&T investment projectss in development economics assessment is also an important content in relation to the special social and economic conditions in developing countries, their investment in S&T projects also faces special economic problems on evaluation.â…¢. Research on single-effective evaluation method of S&T investment projectsPapers in the fourth chapter which is the research on single-effective evaluation method of S&T investment projects have a more comprehensive study, it is also difficult point and innovation in this paper. Items on the economic benefits of investment in technology evaluation, and the author of the analysis of the economic benefits on the basis of defined investment in technology projects and the evaluation of the meaning of economic efficiency, investment in technology projects of economic benefits compared with traditional economic projects with some of the unique characteristics; Based on the research of CAPM model, combining the characteristics of investment in technology projects, the CAPM model has been adjusted to make them more cost-effective technological investment projects evaluation of the reality. Items on the social benefits of investment in technology evaluation, the paper analyzed the social and social benefits, investment in technology projects proposed social meaning, in theory of the Pareto analysis and project-related groups on the basis of using project cost-effective analysis of the social benefits of investment in S&T projects was evaluated . S&T investment projectss on the environmental effects evaluation, environmental analysis, environmental benefits and the formation of environmental issues and development, use of dynamic evaluation of the environmental benefits of the technology model which the environmental benefits of investment projects was evaluated, and in the process involves public participation and the effectiveness of the issues into EIA step were discussed. S&T investment projectss on the technical evaluation of effectiveness, this paper analyzed the technical efficiency and evaluation indicators, the introduction of a lens model, based on this further use of its fuzzy comprehensive evaluation method was evaluated. S&T investment projectss on the operational effectiveness evaluation, the paper analyzed the operation efficiency and evaluation of content, respectively flexible evaluation model using Monte Carlo simulation methods and their evaluation, and further on the two methods were compared.â…£. Research on comprehensive benefits evaluation method of S&T investment projectssComprehensive evaluation is the focus of research in the field and trends, on the basis of relevant research, the first application of systems analysis and documentation comprehensive law, the paper wants to establish a scientific, practical and completeness of the comprehensive evaluation index system, the efficiency of investment in technology projects evaluation index system should include operating efficiency indicators series, economic indicators series, social indicators series, environmental benefit index series, five series of technical efficiency indicators for the majority of the main indicators of the multi-level network. Indicators discussed the standardization of data and indicators weight determine methods, and use Delphi method and AHP is given in the index system weight indicators, established a S&T investment projects hierachy gray evaluation of the effectiveness evaluation model, described the steps to their specific application, pointing out that this method investment in technology item-effective, comprehensive evaluation of the use of simple, intuitive result, accurate and reliable.â…¤. Research on stage evaluation method of S&T investment projectsIn this paper, Research on stage evaluation method of S&T investment projects is one of the priorities and difficulties. This article will introduce real options theory into S&T investment projects areas, based on NPD model, appling binary tree option pricing model to evaluate the value of specific S&T investment projects, the binary tree options will be applied to S&T investment projects model of evaluation process for the project, and that binary tree model for the state of decomposition can be perfectly fit NPD model process. Hierachy gray evaluation will be carried out with the pros and cons of analysis, that reflects the thinking of the people the basic characteristics of the decision-making which is the qualitative analysis and quantitative analysis of the effective integration, and the NPD model based on the binary tree real options analysis method is a scientific, rational, proactive, efficiency project evaluation and decision-making methods, are considered to have stage of the project started with the characteristics of the process, taking into account the evaluation of the options targeting characteristics of organic combination of the two.â…¥. Research on empirical evaluation of S&T investment projectsIn this paper, an enterprise technology background examples of investment projects on the basis of the analysis were used hierachy gray evaluation and binary tree option pricing evaluation model in the empirical research. Hierachy gray evaluation will first introduce the S&T investment project evaluation process to maximize the use of all basic data and avoid information loss, and with commonly used fuzzy comprehensive evaluation, compared to the weighted average method, the use of this method is simple and intuitive, accurate and reliable. For the evaluation of a number of S&T projects, computer programming can be processed, thereby overcoming the tedious calculation. Binary tree option pricing model will be applied to this project evaluation, we can see that the evaluation of the project in terms of S&T investment, not only in order to effectively reflect the value of the project, but also make correct investment management guidance and advice. Binary Tree and further through the variable pricing model sensitivity analysis, can be more clearly understand their value for the degree of influence of the project, investment in science and technology in the project evaluation process management and control.