摘要
针对传统估价方法在企业并购价值评估中的不足,利用实物期权方法进行了改进.首先,分析了不考虑并购情形下企业价值评估的实物期权方法.其次,以放弃期权为例,研究了并购中的企业估价方法.最后,提出了运用实物期权理论进行企业并购价值评估的整体思路.
Aiming at the shortcomings of the traditional corporate valuation methods used in mergers and acquisitions (M&As), some improvements are made in this paper. Firstly, the corporate valuation using real option theory without M&As is analyzed. Secondly, making abandoning option as an example, the corporate valuations in M&As are studied. Lastly, an integrated framework of corporate valuations in M&As based on real option theory is put forward.
出处
《系统工程学报》
CSCD
2004年第4期403-407,共5页
Journal of Systems Engineering
基金
国家自然科学基金资助项目(79970039).
