Research On Valuation Of Bjtepia'equity Based On Real Options

Under the guidance of the new era,China's financial reform has entered a new chapter of development.The real economy and technological innovation have become the new focus of future financial system reform.The New OTC Market,as the base of China's multi-level capital market,not only broadens the coverage of services for small,medium and micro enterprises,optimizes the financing structure,but also injects fresh blood into high-tech enterprises,effectively becoming a booster for the development of the real economy.However,the New OTC Market is still in the early stages of growth.Due to the unevenness of listed companies,many high-quality companies with uncertain development and not outstanding profits have been buried.Therefore,the reasonable evaluation of the value of the New OTC Market enterprise is related to the good development of the entire market.This article is to make some research on the effective value evaluation of the New OTC Market enterprise.This paper takes the equity value of the New OTC Market enterprise Bjtepia as the research object.Firstly,it discusses the research background and significance of choosing to study the equity value of the New OTC Market enterprise.It reviews the research results of domestic and foreign scholars on corporate valuation and introduces related concepts.Secondly,the evaluation of the equity value of the New OTC Market enterprise Bjtepia was discussed from many aspects.This paper introduces the real option method to evaluate the value of the New OTC Market enterprise.By identifying and analyzing the real option characteristics of the new three-board enterprise,the the B-S Option Pricing Model is finally selected for evaluation.Taking Bjtepia as an example,according to the valuation model of the real option method,identify the various options included in the enterprise and calculate the values of the five basic parameters,and bring them into the B-S Option Pricing Model calculation formula to get the option price,that is,the stock intrinsic value.The research results show that the simple calculation and accurate valuation results of the B-S pricing model bring useful reference to the valuation of corporate equity.At the end of this paper,the conclusions of the study are summarized.At the same time,the shortcomings of this paper are pointed out and the future prospects are made.