| New and high-tech enterprises have been developing rapidly in recent years. The pricing and valuation of such enterprises have become core issues in the field of capital operationThis paper systematically surveys the basic literature in enterprise valuation, and examines the characteristics of new and high-tech enterprise valuation. Since traditional methods of enterprise valuation have been significantly challenged, this study focuses on the use of real option pricing model in assessing enterprise values, and attempts to apply the Schwartz & Moon real option pricing model to measure the value of enterprises under uncertainty. Monte Carlo simulation method is used in this research to simulate future cash flows of the case company in this study.The case of NETAC TECHNOLOGY CO., LTD. listed in China Growth Enterprise Market is investigated in this paper to assess its enterprise value and analyze key drivers of value improvement. |
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