【摘要】 科技创业企业的价值是通过研究与开发、规模化生产、市场拓展、创业的经营管理、战略发展规划、资本市场上市等过程逐步动态体现的,为此,在对科技创业企业进行价值评估时,必须考虑风险投资对创业企业分阶段投资的行为特征,[1](1-27)本文以实物期权理论为基础,结合科技创业企业及风险投资行为过程的特质,构建了基于科技创业企业的风险投资项目价值评估模型,希望能够对科技创业项目的风险投资价值评估提供有益的参考。更多还原

【Abstract】 The value of technological company is step by step dynamically reflected by the progress of R&D,scale production,market development,operation and management of the venture,strategic development plan and the listing on capital market and so on.Therefore,when assessing the value of technological company,you should consider the behavior characteristic that venture investment affects on the stage investment of such company.This paper,based on theory of real option,combined with the characteristic of technological company and the progress of venture investment,creates the value-assessment model about the program of venture investment.At last,we hope that the paper can provide favorable references about the value assessment for the valuation of venture investment in technological projects.更多还原