The Valuation Of Culture Creativity Industry Based On Real Option Illustrated By The Case Of Alpha Animation Corporation

with the valuation of culture creativity enterprises, financing difficulties, property transactions and other issues appearing, it makes the stakeholders begin to appreciate the accuracy and scientific of valuation of culture creativity enterprises. Compared with the traditional industry, culture creativity industry is full of high uncertainties and risks, and traditional valuation methods are not well suited. We find that the real option method has unique advantages in dealing with uncertainty and high risk, In order to be able to assess the value of culture creativity enterprises accurately, we combine the real option method with the traditional valuation method.Firstly, this thesis reviewed and summarized the enterprise’s value assessment theories from home and abroad especially the real option theory. Secondly, this thesis introduced the characteristics of film enterprises and analyzed the limitations of traditional enterprise value assessment methods. Then it introduced the real option method, and demonstrated the evaluation advantage of the real options method. Specifically, this part analyzed the real options identification process of Culture Creativity Industry and built the film enterprise valuation model based on the real option. Finally, we used the valuation model combined DCF model and real option theory to value the Alpha Animation Corporation. At last, we find the result is close to the stock price, thus proves the real option method is applicable to assess the value of the film enterprises.