| 基于扩张期权的目标企业价值特征分析及评估方法 |
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| 引用本文： | 马超群,任德平. 基于扩张期权的目标企业价值特征分析及评估方法[J]. 系统工程, 2004, 22(3): 20-24 |
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| 作者姓名： | 马超群 任德平 |
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| 作者单位： | 湖南大学,工商管理学院,湖南,长沙,410082 |
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| 摘 要： | 由于对并购目标企业价值评估的传统方法存在一些固有的不足，本文引入实物期权的评估方法。在分析目标企业的期权性特征和定价特点后，建立一个基于扩张期权的目标企业价值评估模型，并且从实例分析上说明该评估模型的一些优点。
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| 关 键 词： | 目标企业 企业并购 扩张期权 期权性特征 价值评估模型 价值特征 |
| 文章编号： | 1001-4098(2004)03-0020-05 |
The Option Characters of Acquired Corporation and the Valuation Approach Based on Option to Expand |
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| MA Chao qun,REN De ping. The Option Characters of Acquired Corporation and the Valuation Approach Based on Option to Expand[J]. Systems Engineering, 2004, 22(3): 20-24 |
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| Authors: | MA Chao qun REN De ping |
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| Abstract: | Real option methods is presented in this paper, because of some inherent drawbacks of traditional methods in valuation. After analyzing the option characters and pricing speciality of acquired corporations, the paper provides a valuation model of acquired corporation based on option to expand, and demonstrates the superior of the new valuation model. |
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| Keywords: | Option to Expand Acquired Corporation Option Character Option Pricing |
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