Research On The Value Evaluation Of Chip Enterprises In The Perspective Of Fuzzy Real Option

In the context of a new round of scientific and technological revolution and industrial transformation,chip is the cornerstone of the new generation of information industry such as Internet of things,big data and cloud computing,as well as the basic and leading industry of modern economic and social development,and its strategic position is increasingly prominent.In the 13 th Five-Year Plan and “Made in China 2025”,the development of chip industry is also given prominent position.Therefore,chip companies are attracting more and more attention from investors,and their performance in the capital market is extremely active.Therefore,accurate evaluation of their value is more and more important to investors.This paper summarizes the research achievements of predecessors,by analyzing characteristics of enterprise characteristic and the limitations of traditional evaluation methods,finds real option features of chip companies and applicability of real option theory to evaluate chip enterprises.Aiming at the defects of real option model in application,this paper analyzes the improvement significance of fuzzy mathematics theory to the real option model,and puts forward adding fuzzy mathematics theory to real option model.Taking Hangzhou Silan Microelectronics Co.,Ltd as an example,this paper applies real option model and fuzzy real option model to evaluate the value of the enterprise,and makes a comparative analysis of these results and the market value of the base date to conclude that the value of fuzzy real option method is more accurate.Introduction of real option theory can better estimate the uncertainty added value of chip enterprises,and the amendment of real option method by introducing fuzzy mathematics theory can improve the scientificity and accuracy of the valuation,which has important reference significance for the development of chip enterprise's valuation system.