Application of Real Option Method for Pricing Venture Investment Project

摘要：

DCF (discount cash flow method) is often used by a company when doing the venture assessment, in which NPV (net present value) is the most frequently concerned. However, as to the evaluation of the growth-opportunity and the intangible assets, the traditional DCF has its inherent limitations. In this paper, a multi-staged compound real option mode1 is estab1ished to price ventures based on discussing real option characteristics of venture capital investing. And game theory is introduced to expanding rea1 option pricing model.

关键词： real option venture investment compound option

作者: JianHua Wu

作者单位: College of Economics, Wuhan University of Technology, Wuhan , 430070, China

会议类型: 国际会议

会议名称: The Ninth Wuhan International Conference on E-Business(第九届武汉电子商务国际会议)

会议地点: 武汉

会议语种:英文

页码: 1231-1243

在线出版日期: 2010-05-29（万方平台首次上网日期，不代表论文的发表时间）