实物期权在企业并购价值评估中的应用

企业并购是一项重要的资本运营方式,是企业实现迅速增长的重要途径。企业并购价值评估对于企业并购决策具有十分重要的意义,但是,目前常用的并购价值评价方法无法完整地评估并购价值,因此,引入实物期权概念对企业并购价值进行分析,进而提出完整的并购价值评价方法。

The Application of Real Options in Evaluatin of M&A

M&A is an important method of capital management as well as a way to make enterprises grow rapidly. The evaluation of M&A is critical in the decision-making of M&A. However, the M&A evaluation method in use can not fully evaluate the real value of M&A. Therefore, this paper introduces real options into the evaluation of M&A and work out complete method for M&A evaluation.