| 创业投资定价模型的推导 |
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| 引用本文： | 张宗成,戚道安.创业投资定价模型的推导[J].华中科技大学学报(自然科学版),2002,30(7):83-85,88. |
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| 作者姓名： | 张宗成 戚道安 |
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| 作者单位： | 华中科技大学经济学院 |
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| 基金项目： | 国家自然科学基金资助项目 (70 172 0 4 6 ) |
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| 摘 要： | 运用期权的原理对创业投资的特点进行分析，指出可将创业投资视为一种多阶段实物期权，因而可以用多阶段实物买权来衡量创业投资的价值。根据对创投投资事业阶段所做的一般分类，建立起多阶段复合式期权模型，此模型可用于创业投资公司投资计划的评估。
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| 关 键 词： | 定价模型 创业投资 实物期权 复合式期权 创投公司 公司价值 股票价格 |
| 文章编号： | 1671-4512(2002)07-0083-03 |
The derivation of valuation model for venture capital |
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| Zhang Zongcheng Qi Daoan Prof., College of Economics,Huazhong Univ. of Sci. & Tech.,Wuhan ,China..The derivation of valuation model for venture capital[J].JOURNAL OF HUAZHONG UNIVERSITY OF SCIENCE AND TECHNOLOGY.NATURE SCIENCE,2002,30(7):83-85,88. |
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| Authors: | Zhang Zongcheng Qi Daoan Prof College of Economics Huazhong Univ of Sci & Tech Wuhan China |
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| Institution: | Zhang Zongcheng Qi Daoan Prof., College of Economics,Huazhong Univ. of Sci. & Tech.,Wuhan 430074,China. |
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| Abstract: | The multi stage real call options model was used for the valuation of the venture capital investments. The characteristics of venture capital was analysed. The compoud option model was given. It was shown that venture capital investment was real option. Based on multi stage real call options model, venture capital investment was valuated. |
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| Keywords: | venture capital real option compound option |
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