Value Evaluation Of New Chemical Material Enterprises Based On Fuzzy Real Option Theory

In recent years,China's chemical new material industry has developed steadily,but compared with developed countries,China's chemical new material enterprises are facing problems such as small scale,low technology and industry dispersion.According to the data,the majority of small and medium-sized chemical new material enterprises in China account for about 80%.After continuous integration and reorganization,the western chemical new material companies have formed a global industrial chain and distribution chain.Therefore,the merger and reorganization of domestic chemical new material enterprises is imperative.With the proposal of "made in China 2025",China will change from a manufacturing power to a manufacturing power,The field of new chemical materials will be the object of national policy support and noteworthy investment target.So it is very important to evaluate the chemical new material enterprises effectively.This paper analyzes the advantages and disadvantages of traditional enterprise value evaluation methods.Starting from the new chemical material industry and enterprises,the paper systematically analyzes the types,industry characteristics,industry development status,enterprise characteristics and the factors affecting the enterprise value.Through these analyses,the paper discusses the value structure of the chemical new material enterprises,and concludes that the enterprise value consists of the value created by the explicit assets and the value created by the implicit assets.Based on the value structure of the chemical new material enterprises which are different from the traditional enterprises,the applicability of the real option method to evaluate the value of the chemical new material enterprises is discussed step by step.In the model,fuzzy mathematics is used to modify the parameters of real option method to reduce the impact of subjective factors on value evaluation.Taking Huahua chemical as an example,this paper studies the evaluation model.Through research and analysis,it puts forward that the material option method is more reasonable to evaluate the value of new chemical material enterprises,and the introduction of fuzzy mathematics makes the evaluation result more reasonable.