The Appraisal and Applies of the Growth Option Value in Enterprise Buyout

摘要

There is risk in the enterprise buyout, but simultaneously can bring the significant strategic benefit to the enterprise, but the present enterprise value appraisal methods cannot explain some phenomenon which the transaction price departs from the enterprise value, very well, because of neglecting the strategic value in enterprise buyout, this article introduces the theory of Growth Option and the Option fixed price model to appraising this kind of strategic benefit value.