Value Assessment Of Internally Generated Goodwill Of Yu Tong Bus Based On Real Options Method

With the development of economic globalization and knowledge economy,intangible assets are becoming more and more important in the enterprise.Goodwill as an intangible assets,is the representative of the reputation of enterprises, which can reflect the competitive advantage of enterprises and can play a key role in the market competition.However, enterprises pay more attention to tangible assets, the attention of goodwill is not high and the concept of goodwill is weak.In the assessment community,the intangible and particularity of goodwill makes it difficult to accurately measure its value compared to tangible assets.Despite the existence of many enterprise,but no matter in theory or in practice,Internally generated goodwill evaluation does not have a unified understanding and recognized method.Therefore,in the evaluation of intangible assets, the evaluation of Internally generated goodwill has become an urgent problem to be solved.Firstly, this paper reviews the related theoretical basis of Internally generated goodwill, and analyzes the cutting difference method and the excess earnings method in the traditional evaluation method of goodwill;Secondly, introducing real option,this paper expounds the feasibility of the real option method in the evaluation of the value of Internallygenerated goodwill, and analyzes the application of the B-S pricing model based on real options in the evaluation of Internally generated goodwill;At the end of the paper,this paper using B-S model in the real options to calculate Internally generated Goodwill of Yu Tong Bus, selecting January 1, 2015 as the basis date of evaluation, mainly to meet the assessment purpose of management and capital expansion of Yu tong Bus, the value is about 8.128 million.By applying the real option method to assess the value of the Internally generated goodwill of Yu Tong bus. on the one hand, it can provide reference for the value of Yu Tong goodwill, helping to improve the enterprise management level and the consciousness of goodwill protection. On the other hand, it can enrich and deepen the theory of asset appraisal, to provide a new reference method for goodwill evaluation.