If we take a holding period of 30 years , the rental savings over these 30 years and the terminal market value of the office at the end of the holding period will be the future cash flows generated by the current investment 年内合共节省的租金开支，连同该物业于持有期末的最终市值，便是当前投入资金所产生的未来现金流量。能使这些未来现金流量计算出相等于当前投入资金的折现率，便是投入资金的内部回报率。
Application of the algorithm for different observed head data sets indicate that the model can be successfully applied for aquifer systems where data available may be sparse and with errors . calculated groundwater heads by identification results in fourteen parameter areas are fit for observed heads in field , and flowing filed is similar . the study demonstrates the effectiveness of the ga global optimization model for parameter identification , which is an important step towards real system simulation and effective planning and management of groundwater resources 通过算例研究，表明上述算法可行，且rbf神经网络方法和退火遗传算法对地下水系统参数的识别效果都较好，而退火遗传算法较之标准的遗传算法具有更好的收敛性将算法应用到北京市密怀顺地区，在收集、分析研究区资料基础上，建立了北京市密怀顺平原区地下水模拟模型，并用遗传算法进行了地下水系统参数识别，在十四个分区情况下，计算水位与实际水位拟合的较好，各应力期末的计算与实测等水位线基本一致，表明该识别值较为合理。
The results show that : ( l ) adoption of the intermittent mean price instead of the point price at the end of the option will help to reduce the chances of profit - making manipulated by managers and to curb the manager ' s motive to control the stock price ; ( 2 ) generally speaking , stock price of mean price option is more incentive to the managers than that of the black - scholes ; ( 3 ) when the stock market slumps at the end of the option , mean price option will ensure a moderate insurance for the managers ; ( 4 ) when stock price slumps alone with the overall situation of the stock market in the intermittent option , mean price option . however , will be inefficient as an incentive . chapter four addresses the questions concerning the manager ' s manipulation of the stock price , and the increase of the option risks because of long - term slump of the stock market 第三部分包括第三至五章，第三章针对时点价格容易被控制和时点价格的波动性太大，增加了经理期权的风险等问题，研究采用期权期内的平均价格替代期权期末的时点价格计算经理股票期权收益，构建了几何型平均价格期权定价公式，并与black ? scholes期权定价公式进行了定量对比分析，结果表明： ( 1 )采用期权期内平均价格替代期权期末时点价格有利于降低经理通过操纵股价的牟利机会，遏制经理操纵股价的动机； ( 2 )一般条件下，平均价格期权股票价格对经理的激励作用优于标准期权； ( 3 )当临近期权期末股价下跌时，平均价格期权能为经理提供适度保险； ( 4 )当期权期内，股票受大市持续走弱影响而下跌时，平均价格期权失去了激励作用。
The relative change rate of a specific land use type of a region can be represented as : ua and ub represent the areas of a specific land use type of a region at the beginning and end of the study respectively ; ca and cb represent the areas of a specific land use type of the area studied at the beginning and end of the study 区域某一特定土地利用类型相对变化率可表示为： 、分别为区域某一特定土地利用类型研究期初及研究期末的面积； 、代表整个研究区某一特定土地利用类型研究期初及研究期末的面积。
