Higher Education In China The Kind Of Personal Investment Value Of Options

The high education individual investment is the front research area of education economics, simultaneously, it also is a human capital individual investment, therefore, it is the combination of education economic theory,human capital theory,accountant theory and so on. The high education economic takes the human capital theory as the foundation, so a person inevitably has cost, income and risk to the high education investment. Generally it has qualitative and quantitative two methods to its research, in our country mainly uses qualitative method, and the existing quantitative investigation method generally carries on the high education investment capitalization, to accountant the high education investment value. Today, the growing demand for high education is stronger and stronger. As an investment in human capital, the uncertainty and risk are increased. These uncertainties not only in the traditional valuation methods are difficult to calculate, but also significantly lower the value, it is necessary to find a more suitable method to measure. Real Options in uncertain conditions, similar to financial options, has the right to choose. Real Options is an important tool to charge uncertainty and risk. It is about the real assets contract. Owner of the Options can choose whether or not to delay further investment in these assets, minimizing the risk of assets depreciation and maximizing the opportunities of the revaluation, therefore to maintain the stability income of the real assets. High education can enhance the value of the individual, but it will take time and need continue investment. In the process of full the value, it faces the uncertainty of changing the value. This is the same as the Real Options. So, this paper breaks the limitations of traditional theories, using the Options method to research.Based on an analysis of the connotation and the value of the high education individual investment, summarized and compared the main theories and methods of appraising the value of high education investment, this article points out these methods existences limitations; Then further studying high education individual investment management, it has the obvious multi-stage according to high education individual investment management, can be viewed as a multi-stage investment, only the preceding issue of investment goal to be achieved, then the next issue, just like, only to graduate the high school, then to the college get the bachelor, then the master, and then the doctor; Analyzed the link between the Options and the high education individual investment management, and well-defined the basic concept and characteristics of the high education individual investment options, finally, it founds the high education individual investment options and discusses it based on present situation of our country. To expand the study of this method, the main difficulty is lack of a strong theoretical and the necessary Empirical Analysis. For the former, this article mainly uses the mature Human Capital theory, Real Options theory to solve. And the latter, this paper mainly discusses the rationality and effectiveness of the theoretical model.