风险投资的风险转移期权定价模型研究

Research on Shifting Venture Option Price Model of Venture Capital Inve stment

本文首先对风险投资家和投资机构风险投资时经常采用的股权形式进行了研究,经过对比分析,得出了期权相对于股权在风险转移中的作用,在对企业价值研究的基础上,按照Black-Scholes期权定价的思想建立了风险投资的风险转移期权定价模型,并依据一家刚刚进入导入期的风险企业对所建立的风险转移期权定价模型作了实证研究。

The paper studies the stock right form that often adopted by investor s and investment institutions at the time of investing accompanied with risks an d by comparing the stock right the paper draws the functions of option right in risk shift.Basing itself on a research finding on the value of enterprises and a concept of Black-Scholes the paper sets up the model on price option for shift ing risks in venture investment and makes empirical analysis of a enterprise tha t has built the model price option for shifting risks in venture investment.