摘要
随着科技型企业的发展,特别是随着我国创业板开市运行,科技型企业估值研究引起了许多学者的广泛关注。首先对企业估值理论进行了归纳总结,然后分别介绍了国内外学者对科技型企业估值的研究现状,最后提出,随着私人股权投资的迅速发展以及多层次资本市场的逐步完善,从财务投资者资本收益角度研究科技型企业投资价值评估具有一定的理论和实际意义。
As technical enterprises develop, especially with the opening of China Growth Enterprise Market （ GEM）, the valuation study has raised many scholars＇ concern. This paper firstly summarizes the enterprise valuation theories, and then introduces the status quo of the domestic and foreign scholars＇ research on the valuation of technical enterprises. Fi- nally, it discusses that with the rapid growth of private equity and gradual improvement of multi - level capital market, it＇ s important to evaluate technical enterprises＇ investment value from the perspective of financial investors＇ capital gains.
出处
《科技管理研究》
CSSCI
北大核心
2012年第7期113-117,共5页
Science and Technology Management Research
基金
北京市教委社科项目"私募股权投资文化创意产业估值研究"(SM201110772002)
关键词
科技型企业
企业估值
实物期权
财务投资
technical enterprises
enterprise valuation
real options
financial investment
