基于实物期权法的风险投资项目估价方法——一个文献综述

本文理清了实物期权及其在风险投资项目估价中应用的发展脉络,并提出了实物期权在风险投资项目估价应用中需要发展的地方。

The Valuation of Venture Capital on Real Options:A literature Review

The paper attempts to offer a development line of the literatures in the field of real options,specifically of the literatures that deal with the areas of the valuation of venture capital,and put forward issues that future research should still focus on.The development of real option in the valuation of venture capital is the product of the combination of the standard Black & Scholes option pricing model and venture capital,which revised Black & Scholes option pricing model on the consideration of characteristics of venture capital from those aspects such as the time to matue,distributional assumption of underlying asset value,interest rate,strike price and volatility rate of asset value etc.