科技型中小企业无形资产评估中的期权定价模型

Option pricing model for value evaluation of intangible assets in small and medium-sized S&T enterprises

科技型中小企业科技含量高、无形资产大,其价值中心就是高度不确定的无形资产。文章回顾了期权定价理论在企业不确定性资产评估中的研究成果,根据科技型中小企业的特点对期权定价模型进行了修正;以合肥市高新区内的一家科技型中小企业为例,说明了具体的评估计算过程;对科技型中小企业无形资产价值的评估提出了展望。

This paper deals with using the option pricing model to evaluate intangible assets in small and medium-sized S＆T enterprises. The achievements in applying the option pricing theory to uncertain assets evaluation are reviewed, and then the option pricing model is revised in consideration of the characteristics of the small and medium-sized S＆T enterprises. The calculation process is shown by using an instance in Hefei Hi-tech Industrial Development Zone. Some suggestions about the evaluation of such enterprises＂ intangible assets are put forward.