摘要
随着传媒企业的快速发展,相应的传媒企业的投资、融资和并购等经济行为不断出现,投资者和利益相关者越来越重视传媒企业的价值评估的准确性和科学性。本文基于期权视角探究传媒企业价值,通过构建传媒企业的财务能力评估指标体系,然后利用突变级数法计算出每个企业的财务能力权重;最后,结合B-S实物期权模型计算得出10家传媒企业的价值,并考虑财务能力权重对企业价值进行修正,得出修正后最终的传媒企业的评估价值,开拓了对传媒企业价值评估研究的新思路,为投资者进行投资或并购提供一定的依据和参考,并对传媒企业价值提升提供对策。
With the rapid development of media companies,the economic activities of investment,financing and mergers and acquisitions of corresponding media companies continue to emerge,and investors and stakeholders are paying more and more attention to the accuracy and scientificity of the value assessment of media companies.This paper explores the value of media enterprises based on the perspective of options.By constructing the financial capability evaluation index system of media enterprises,and then using the catastrophe progression method to calculate the financial ability weight of each enterprise;finally,combining with the real option model of BS,10 media companies are calculated.The value of the financial capacity is considered to correct the value of the enterprise,and the final evaluation value of the media company is revised.The new ideas for the evaluation of the value of the media enterprise are opened up,which provides a basis for investors to invest or acquire.Reference,and provide countermeasures for the value of media companies.
作者
孙志红
张娟
Sun Zhihong;Zhang Juan(Shihezi University School of Economics and Management,Corps Financial Development Research Center)
出处
《金融发展评论》
2020年第7期68-80,共13页
Financial Development Review
基金
国家社科基金《脱贫与稳增长导向下新疆民族地区特色小镇建设与金融资源配置研究》(17BJY049)的资助
