摘要
出于对林业发展的重视,对生态旅游项目的关注,黑龙江省委、省政府在"十二五"期间着力促进林业产业结构的合理调整,重点推进林业生态旅游项目。随着森林生态旅游项目成为一种颇受大众关注的旅游项目,其投资的风险性也开始逐渐受到越来越多的投资者的关注。将风险价值(Value at Risk,简称VaR)和条件风险价值(Conditional Value at Risk,简称CVaR)两种风险管理工具引入到长寿森林大世界森林生态旅游项目投资的风险管理中,建立单个投资项目的风险管理模型,并以CVaR为优化目标,通过求解随机规划问题得到使CVaR最小化的投资组合比例,以实现对同时投资多个项目的创业投资基金的风险控制。
Because of the high attentions of forestry development and ecotourism, the government of Heilongjiang Province will focus on the adjustments of forestry industrial structure and developing forestry ecotourism during the Twelfth Five-Year period. With the increasing popularity of forestry eeotourism, the investors will pay more attentions on the risk of forestry ecotourism investments. Two risk management methods, value at risk （VaR） and conditional value at risk （CVaR） were applied to manage the risk investment of ecotourism project. The research was conducted to build single investment project risk management model with CVaR as the control object for solving the stochastic programming problem and finding an investment proportion with CVaR minimization. Our aim was to achieve the risk control of multiple investment project venture capital funds, simultaneously.
出处
《东北林业大学学报》
CAS
CSCD
北大核心
2013年第6期164-167,共4页
Journal of Northeast Forestry University
关键词
CVAR
森林生态旅游项目
风险控制
风险分析
风险管理
Conditional value at risk （CVaR）
Forestry ecotourism project
Risk control
Risk analysis
Risk management
