期权估价法

针对上面存在问题提出了相关的对策建议，包括五个部分：通过现金流折现法与期权估价法思想的有机结合，并适当引入市场竞争来解决MBO的定价问题；

Aimed at the problems above , some countermeasures are put forward , which covers five parts as follows : combining Discounted Cash Flow with Option Pricing will solve the pricing problem of MBO ;

本文首先阐述了贴现现金流（DCF）估价法、经济增加值（EVA）估价法、实物期权估价法三种价值评估理论的详细内容，并分析了其优缺点及其适用范围。

Firstly , discounted cash flow valuation method , economic value added valuation method and real option valuation method will be expatiated , and the advantage and disadvantage of which will be analyzed .

国际上通行的企业估价方法主要有三种：现金流量贴现法、相对比较乘数法和期权估价法。

Now , the world popular methods of evaluating firms are cash flow discount , comparative multipliers , and option evaluation .

综合评估法是一种，将贴现现金流估价法、经济增加值估价法和实物期权估价法三者结合在一起的评估方法。扩张期风险企业实物期权估价方法研究

Integrated valuation method is a combination valuation method of DCF valuation method , EVA valuation method and real option valuation method . Evaluation of ventures during profitable expansion period : a real option approach

在期权估价法和现金流折现法的比较基础上，引出实物期权方法及其在企业并购中价值评估的应用框架，并据此对初创高科技企业并购案例进行分析。

At the option valuation method and discounted cash flow method on the basis of comparison , extraction methods and real options in corporate mergers and acquisitions in the application of value assessment framework , and accordingly high-tech mergers and acquisitions of start-up cases for analysis .