Analysis of Capital Markets and Envestmentusing engineering approach

本研究由两部分组成。一是资本市场的均衡与非均衡。混沌理论分析表明，资本市场参数对资本市场从非均衡向均衡转变的过程具有重要影响。另一项研究得到了非齐次资本市场存在非负均衡价格向量的充要条件。对买卖关系的研究表明，任何投标人的期望效用随着合谋规模的增加而增加。第二部分研究与企业的投资决策有关。第一项研究是关于在国外采用实物期权方法选择生产点的可能性。结果表明，这是可能的，并且滞后对生产点切换决策有相当大的影响。另一项研究采用启发式方法对R&D项目投资决策中的研发项目管理所面临的问题进行了研究。我断言，初始目标已经充分实现。

This research is constitute of two part. First is equilibrium and disequilibrium of capital market. An analysis with chaos theory make clear that capital market parameters give considerable effects on process of moving from disequilibrium to equilibrium. Another research derives a necessary and sufficient condition for the existence of a non-negative equilibrium price vector in a non-homogeneous capital market. A research for a bid-ask relation make clear any bidder's expected utility increases with an increase in size of collusion.Second part of this research is related with firm's investment decisions. First research is about an possibility of adoption of a real option approach to selection of production points in foreign countries. The result shows it is possible and hysteresis gives considerable effects on decisions of switching production points. Another research deals with a scheduling of research and development projects management always faces in decision of investment to R&D projects using a heuristic approach.I assert initial objectives are achieved sufficiently.