摘要
从实物期权的观点分析了高技术企业的内在价值评估问题,针对其企业自身的特点,探讨了传统估值方法对于高技术企业的不适用性,并对其中存在实物期权进行了定性分析,同时运用Black鄄sholes定价模型为高技术企业的内在价值评估提供了合理的实物期权评估方法,最后得到了相应的结论。
This paper presents the analysis on the evaluation of the inner value in high-tech enterprise in term of real-option theory. Based on the enterprise attributes, the inapplicability of traditional evaluation method is discussed and the qualitative analysis on real-option is carried out. At the same time, the Black-sholes pricing model is used to offer one rational method for the inner value evaluation in high-tech enterprise. Finally one corresponding conclusion is drawn.
出处
《科技进步与对策》
CSSCI
北大核心
2004年第10期48-50,共3页
Science & Technology Progress and Policy
关键词
实物期权
价值评估
高技术企业
real-option
value evaluation
high-tech enterprise
