实物期权评价方法在风险投资决策中的应用

Real Option Evaluation Method in Venture Capital Strategy

风险投资具有高不确定性和多阶段性的特点,因此选择适合的风险投资评价方法尤为重要。通过分析比较发现,实物期权方法能呈现出项目的长期战略价值,帮助决策者在面对当前利润低但潜在价值巨大的风险项目时,做出正确的判断。同时,该方法建立了相邻投资阶段间的紧密联系,使后一阶段的投资决策尽可能建立在前一阶段的基础上,这使得基于实物期权方法的投资决策模型优于传统的投资决策模型,提高了对风险投资项目衡量的准确度。

Venture capital shows great uncertainty and is multi -staged; so adopting proper evaluation methods for venture capital is of vital importance. By means of analysis and comparison,real option method is proved to have long -term strategic value for a project and enables decision - makers to make right investment under a currently low - profit, yet high revenue circumstance. The method sets a close tie between the adjacent stages, which makes it possible for a later decision to be based on the previous stage. Compared with traditional investment evaluation models, this model has improved the accuracy of measuring venture capital.