Dissertation > Excellent graduate degree dissertation topics show

The Application Study of Real Option in the Venture Investment Decision

Author: TangPing
Tutor: WangXiangRong
School: Shandong University of Science and Technology
Course: Probability Theory and Mathematical Statistics
Keywords: real option venture capital compound option 3G license
CLC: F830.59
Type: Master's thesis
Year: 2008
Downloads: 83
Quote: 0
Read: Download Dissertation

Abstract


The venture capital plays the role which could not be substituted in the high tech enterprise’s development as a kind of special system of financing and investment. However, in the concrete practice process, the high risk, high uncertainty and the low success ratio in the high and new technology developing process enables many venture capital organizations to be extremely careful in the investment decision-making. Therefore, how to appraise scientifically the venture project value, evade or reduce the investment risk and enhance the investment success ratio has already become the problem to be solved. The conventional appraisal method is only suitable with the conventional project appraisal, but is not suitable extremely with the enormous uncertainty and unstable profit project appraisal. Introducing the real option method into the venture capital project decision-making provides the new thoughts for the venture capital management and the scientific policy-making and it has certain innovation significance. First of all, the paper analyzes the characteristic of venture investment project, then compares the conditional investment decision method with the real option analysis, obtains its linear explicit solution of compound option evaluation model according to the multistage trait of venture investment project and analyzes the case at last.There are six parts in the paper. Part 1 introduces the study background, significance and content of the paper, shows the basic frame. Part 2 analyses the connotation, characteristic, type and the classical pricing model of real option. Part 3 generalizes the concept and characteristic of venture investment, reviews the traditional investment evaluation method, points its limitation and the necessity to establish the new evaluation method. Part 4 analyses the real option characteristic of venture investment and obtains its similar linear explicit solution of compound option evaluation model to the B-S and Geske model. Part 5 takes 3G project as an example and analyzes venture investment decision in real option method, and compares the conclusion with NPV model. The last part is the conclusion of the whole paper.

Related Dissertations

  1. Research on Risk Management of Venture Capital Enterprise in the Transition Economic Environment,F830.59
  2. Research on Real Options Models and Applications in China,F832.5
  3. A Study on the Relationship between Venture Capital and IPO Earning Management of Listed Companies on Shenzhen Small and Medium-size Enerprise Stock Board,F276.3
  4. On the venture capital limited partnership system on the impact of,D922.291.91
  5. Venture Capital analysis of the role of China 's economic growth,F124;F224
  6. CD Risk Investment Information Platform Design and Implementation,TP311.52
  7. Research on Management Mechanism of Ventrue Capital Guidance Fund in China,F832.48
  8. Analysis for Fraud Regulation and Logistics Investment of EM2C Business with Real Option Approach,F252;F713.36
  9. To guide the Fund to Venture Entrepreneur under investment management team Selection and Evaluation of research,F224
  10. The development of high-tech industry in Guangxi Financial Support,F832.4
  11. Venture capital for innovative business performance Empirical Study,F272;F224
  12. Venture capital asset pricing theory is applied in the direction of the limitations of research and innovation,F224
  13. Tan Area Studies sulfur dioxide emissions trading,X321
  14. Venture Investment System,D922.29;F832.48
  15. Legal regulation of foreign venture capital,F832.6
  16. Research on Venture Capital Withdrawal Mechanism in China,F832.48
  17. Angel -type risk diversification strategy to invest in companies developing implementation strategies,F272
  18. The Study on the Evaluation of Trademark of Company Based on Real Option,F830.9;F224
  19. System Design of Government Venture Capital Fund of Funds,F224
  20. China's securities companies to invest directly Research Business Development,F832.39
  21. Loop-based enterprise risk investment research,F205;F224

CLC: > Economic > Fiscal, monetary > Finance, banking > Finance, banking theory > Investment
© 2012 www.DissertationTopic.Net  Mobile