Evaluation Of Enterprise Valuation In The Valuation Adjustment Mechanism Based On Option-Game

In recent years, with the deepening of reform and opening up and the gradual development of market economy, a large amount of foreign investment gradually flows into the domestic capital market. Valuation adjustment mechanism as a tool to control the investment risk is widely used in the venture capital activities. Valuation adjustment mechanism is of great significance to improve our capital market and solve the enterprise financing difficulties. The valuation adjustment mechanism can be used successful or not, the key is the option value of company to assess scientific and reasonable. Therefore, business valuation method is a hot issue in the field of valuation adjustment mechanism in recent years.This paper is divided into six parts to study the main influencing factors. In the first part, we introduce the research background and significance, as well as the main research content of this paper through reviewing the study literature. The second chapter as the theoretical basis of this study mainly outlines the theory of valuation adjustment mechanism, methods of enterprise valuation and game theory. It hopes to provide a theoretical basis for the following research. The third chapter analyzes the metering methods of discrete and continuous business option value in the valuation adjustment mechanism.At the same time, this chapter constructed and analyzed the bargaining game between investors and financiers turns to bid.The bargaining game is about the enterprise valuation under incomplete information as well as complete information, The fourth chapter simulates an application case, which puts option game pricing method of this research into practice and verifies the feasibility of practical applications of option pricing methodology of this study. The fifth chapter discusses some measures we should take to make the option game theory to be better used. The sixth chapter summarizes the whole paper, points out the shortcomings of the study, as well as prospects the future research.Correctly cognizing and assessing the valuation of the company is not only the basis and premise of economic activities and management behavior, but also the core problem in the industry investment and financial investment. This paper based on the research results at home and abroad and the current situation of Chinese enterprises in applying valuation adjustment mechanism, systematically cards the valuation theory. It aims to can provide scientific and rational references and recommend for the financing companies and the actual operator when they try to use valuation adjustment mechanism, as well as promote the application and development of the valuation adjustment mechanism in our country.