摘要本文围绕上市企业该如何应用期权定价法进行价值评估进行论述。在我国当前面临的经济变革的现实情况下，以企业未来的发展空间和成长潜力为基点，在现有的价值评估系统上，综合考量期权定价法的优势特点，更科学地进行价值评估，充分保障企业与投资人权益的最大化，并进一步促进上市企业的发展。3007

本文从理论结合实际入手，首先参考了现有的理论研究成果，综合分析介绍了期权定价的内容、意义、发展历程，以及在实际应用过程序中在某些特别领域展现出来的潜力，并将其与其他不同类型的价值评估方法进行了对比，显示了期限定价法的特长。然后从实际出发，选择目前在上市企业上市的XX公司为研究对象进行价值评估分析，由于其在科研开发项目中投入了大量的资金，如果采用传统的贴现现金流法或相对法对XX公司进行价值评估，显然无法正确获得真正有效的评估结果，其科研开发项目对企业未来发展的战略意义被遗忘，导致企业的潜在价值被忽略，无法体现企业在上市企业上市的真正意义。 

毕业论文关键词:期权；期权定价理论；价值评估

毕业论文中文摘要

毕 业 论 文 外 文 摘 要

Title   The theory of option pricing in the valuation of the company application。

Abstract Purpose of this paper is to discuss how the use of option pricing method to our GEM listed companies, for example, considers our specific financial market conditions and a number of constraints, resolve uncertainty enterprise valuation issues。 Explore suitable value of GEM listed companies and the appropriate investment decisions of new ideas and new methods, it is for long-term stable development of China's GEM has important theoretical and practical significance。

Firstly, some of the basic methods for pricing options for a simple introduction and generalization, pointed out the advantages and areas of application of the option pricing method, especially in the case of having flexibility。 Secondly, the current valuation method to do a basic introduction, and a detailed comparison and analysis。 For option pricing method, it is just an advantage for some special cases。 Again, coupled with the actual situation of the GEM。 Finally, the GEM of a company, for example, that XX company, conducted a detailed empirical analysis, the following conclusions: For a number of start-ups, particularly its R & D projects, with great uncertainty, If DCF valuation method or other method (such as the relative valuation method) to be assessed, often not feasible, even if feasible, using only this one, often overlooked the value inherent in the project options, resulting in its value seriously underestimated。

Keywords: Option; option pricing theory; Valuation

目  次

1。绪论 1

1。1研究背景 1

1。2研究目的及意义 2

1。3国内外研究现状 2

1。4基本思路及方法 3

2。相关理论基础 4

2。1期权基本理论简介 4

2。1。1。期权的概念及分类 4

2。1。2不确定性与期权的产生 5

2。2期权定价模型 6

2。2。1期权定价模型的思想 6

2。2。2期权定价模型的介绍 6

3。企业价值评估方法比较与选择