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Study On The Fuzzy Real Option Method Of Asset Valuation Of Internet Ernterprises

Posted on:2019-12-19Degree:MasterType:Thesis
Country:ChinaCandidate:H Q LuFull Text:PDF
GTID:2429330545464021Subject:Asset Assessment
Abstract/Summary:PDF Full Text Request
Nowdays,human beings began to enter the information age.Internet companies have sprung up,with listing,merging,financing and other economic activities appearing constantly.People began to focus on the objectivity,impartiality and rationality of evaluation results.The Internet enterprise belongs to the high-tech enterprise,compared with the traditional enterprise,there are many special methods of assessments.If the traditional methods are applied directly to value Internet enterprises,there are differences between the evaluation results because of not applicable.Therefore,it is necessary to start from the characteristics of the Internet enterprise itself,to understand its value source,and to explore a more applicable evaluation method.Based on the background above,this paper attempts to further explore and study the existing theories and methods of assessment to put forward Suggestions on how to evaluate ideas and methods.The research shows that the real option method has a good advantage in the calculation of uncertainty.As a result,this paper introduces real options to the evaluation of Internet enterprise value,combined with the fuzzy mathematics theory to optimize the process of real option.This paper first reviews relevant theories,including real option theory and fuzzy mathematics theory.Real options are derived from financial options.The underlying assets are physical assets and have similar properties as financial options.The theory of fuzzy mathematics is a new theory of modern applied mathematics.It is different from the traditional theory of binary sets.It is different from the traditional theory of binary sets.It mainly studies the law of the quantity of uncertainty.Secondly,the paper analyzes the evaluation of Internet enterprises,including the value source,the particularity and the limitations of traditional evaluation methods.Internet companies have the characteristics of high risk and high investment.They have great uncertainty and cannot use traditional valuation methods to accurately assess the value of such enterprises.After that,the fuzzy mathematics theory was added to the construction of the real option model.The real option method fully considers the value brought by the flexibility of the strategic management of the Internet company and uncertainty of the future operation.The fuzzy mathematics theory corrects the relevant prediction data of the real option method.Finally,taking the listed Internet enterprises as an example,the value of the enterprise is calculated by two different models,and the two results are compared and analyzed,and the conclusion is drawn.
Keywords/Search Tags:Internet companies, Fuzzy mathematics theory, Real option theory, B-S model
PDF Full Text Request
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