网络经济价值评估

发布时间：2018-03-26 03:34

本文选题：价值评估　切入点：网络经济　出处：《浙江大学》2001年硕士论文

【摘要】： 在网络经济的特有规律，诸如梅特卡夫定理、边际效用递增和边际成本递减原理、正反馈原理等的作用下，网络公司表现出了全新的经营模式和成长模式，，并产生了特有的价值形成和实现方式。在这种情况下，网络经济下价值评估的理念和方法必须做相应发展：作为评估价值重要决定因素的现在和短期的经营业绩应被公司的高成长性和高未来收益所代替，风险与不确定性也应作为一个重要因素考虑并作恰当处理。近几年大量的网络经济价值评估方法的探索都在这两方面作出了或多或少的贡献，特别是对于贴现现金流法的修正使这种原不能适用于不确定性情况下价值评估的方法重焕活力。在总结了现存网络经济价值评估方法的优缺点后，本文提出了运用期权定价理论(主要是Black-Scholes模型)评估网络经济价值的方法，并在分析和实例的基础上论证了此方法的有效性和实用性。
[Abstract]:Under the special laws of network economy, such as Metcalfe theorem, the principle of increasing marginal utility and decreasing marginal cost, and the principle of positive feedback, network companies have shown a new business model and growth model. And produce unique ways of value formation and realization. In this case, Under the network economy, the concept and method of value evaluation must be developed accordingly: the present and short-term operating performance, which is an important determinant of valuation value, should be replaced by the company's high growth and high future income. Risk and uncertainty should also be considered as an important factor and dealt with appropriately. In recent years, a large number of network economic valuation methods have made more or less contribution to these two aspects. Especially, the modification of discounted cash flow method makes this method which can not be applied to value evaluation under uncertainty be revitalized. After summarizing the advantages and disadvantages of the existing valuation methods of network economy, This paper puts forward a method to evaluate the economic value of network by using option pricing theory (mainly Black-Scholes model), and proves the validity and practicability of this method on the basis of analysis and examples.
【学位授予单位】：浙江大学
【学位级别】：硕士
【学位授予年份】：2001
【分类号】：F062.5

【引证文献】