Evaluating Venture Capital Investments with Continuous Real Option Approach In Taiwan and China Research / 應用實質選擇權方法評估與分析海峽兩岸創業投資案之價值

碩士 / 實踐大學 / 企業管理研究所 / 93 / Due to the high growth rate of economy, China has been the most prospectus venture capital areas in the whole world. This research tries to probe into the background of the industry about two sides across Taiwan Strait and relate between invested performance and rate of returns by the invested companies in Taiwan and China, and analyzes the financial characteristics of invested companies in Taiwan and China. This paper makes use of the methodology of Schwartz and Moon (2000) about the continuous real approach to evaluate potential value and influential financial factors on their potential remuneration. As the result shows, the rewards of the invested corporates in Taiwan is affected by “ Growth Ability”, ” Added value of product”, and “Sales Ability”; then the ones in China is affected with ”Grow Up Ability” , and “Ability of Returns of Investment” significantly. We found a negative average in the invested companies of China in the E/P and potential remuneration test. It means the profit-making state or not high or low prices in China, investors accept the will strongly. The examination in the potential remuneration is found, the average in China is higher than Taiwan. It has proved the more potentiality in Cina in the future.

Identiferoai:union.ndltd.org:TW/093SCC00121042
Date January 2005
CreatorsKuang-Li Chen, 陳冠利
Contributors, 黃博怡, 葉立仁
Source SetsNational Digital Library of Theses and Dissertations in Taiwan
Languagezh-TW
Detected LanguageEnglish
Type學位論文 ; thesis
Format89

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