求翻译：曾力勇等（2005）针对企业投资房地产开发项目的三阶段决策建立了相应的实物期权模型，并给出了每一阶段的期权价值以及最佳投资闭值。是什么意思？

Force Yong (2005) had three-stage decision-making for enterprises to invest in real estate development project to establish a real options model, and gives each stage of the option value and the best investment threshold.

Have courage, power (2005) for investment real estate development project in the phase 3 building in decision-making models appropriate in-kind grant, and to give each of the stages of the option value, as well as the best-value investment.

Zeng Li brave and so on (2005) aimed at the enterprise to invest the property development project three stage decision-making to establish the corresponding real options model, and has given each stage option value as well as the best investment shuts the value.

Zeng Liyong (2005) three-stage decision for enterprises investing in real estate development projects created the real option model and gives a close option value at each stage, as well as the best investment value.

正在翻译，请等待...