A real option approach for valuating a venture capital project

被引：0

作者：

Dong, YH

Ren, GY

Xia, J

机构：

来源：

PROCEEDINGS OF 2002 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING, VOLS I AND II | 2002年

关键词：

venture capital; valuation; real option; flexible value;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

First, the option nature of a venture capital projects is analyzed, and a venture capital project is regarded as the compound option produced by a series of European options. Then, an approach, i.e. a real option model and its algorithm, are presented for assessing the value of venture capital project. The presented approach overcomes the defect of which the flexible value of a project is not considered in the traditional NPV method. Finally, a numerical example is given to illustrate the use of the proposed method.

引用

页码：1648 / 1652

页数：5