国内风险投资交易定价研究

A Study of Fixing-Price for Transaction of Domestic Risk Invest

风险投资交易定价是风险投资过程中的一个重要环节，为风险投资交易合理定价可以促进风险投资事业的发展，对投资方和被投资方都有重要意义。本文从传统定价方法中选择适合的方法作为原型，并结合中国企业的实践和概率决策方法，提出了三阶段股权自由现金流贴现模型配合概率加权模型，同时对模型中的各影响参数进行分析，令模型对使用者更具参考作用。

It is an important step for the fixing-price for transaction of risk invest in the process of investment, and to make the transaction of risk invest and appropriate fixing price might promote the development for the investment, and having significance for the both sides. Selecting a proper method as the original model from the traditional one and combining the practice of China's enterprises with a probabilistic model, this article has put forward a free cash discount model in three stages of stock fitted with probabitistic weighting model, analyzing various parameters in the model.