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经济全球化的不断发展推动了企业经营业务和经营手段的变化,企业面临的未来不确定性因素越来越多以及企业管理柔性变得日益凸显。因此,价值评估方法对于现代企业进行并购、出售、经营发挥了至关重要的作用。现有的大多数估值方法都不能估计出因企业不确定性变化带来的隐含价值。而实物期权方法可以估算出这部分隐含价值,这部分价值是企业价值的重要组成部分。
The continuous development of economic globalization has promoted the changes of business operations and management methods, the uncertainties facing the business in the future and the flexibility of business management have become increasingly prominent. Therefore, the method of value assessment plays a crucial role in the M & A, sale and operation of modern enterprises. Most of the existing valuation methods can not estimate the hidden value caused by the uncertainty of the enterprise. The real option method can estimate this part of the implied value, this part of the value of corporate value is an important part.