摘要
创业企业价值评估对于投资决策具有十分重要的意义。但是,目前常用的折现现金流量法无法完整地评估创业企业价值。因此,本文引入实物期权概念对创业企业价值进行分析,并运用Black-Scholes公式对其价值进行评估。
It is very important to evaluate the value of venture capital in making investment decisions. But the value of venture capital can not be achieved perfectly by using DCF (discounted-cash-flow) method adopted frequently. Therefore, this paper analyses the value of venture capital by introducing the concept of real option, then evaluates its option value by the formula of Black- Scholes.
出处
《西安电子科技大学学报（社会科学版）》
2003年第4期71-74,78,共5页
Journal of Xidian University：Social Science Edition
基金
2003年西安理工大学科技创新项目(107-210302)
