STATE PRICE BINOMIAL MODEL AND APPLICATION IN VALUE ANALYSIS OF STAGED FINANCING

摘要

Staged financing is a basic operational form of venture capital. It is of an important means for the venture capitalist and even the development of venture capital industry in China to make scientific decisions. First of all, value structure of staged financing is researched by analyzing option characteristic of staged financing; next, state price binomial model in project value evaluation is introduced by referring to literature; at last, the application explanation is introduced by analyzing a investment project of venture capital firm.