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《Journal of Applied Statistics and Management》 2019-05
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The Study of a Dynamic Real Option Pricing Method on the Patent Value

ZHOU Yan-li;LI Qing;GE Xiang-yu;School of Finance,Zhongnan University of Economics and Law;School of Statistics and Mathematics.Zhongnan University of Economics and Law;  
In this paper,while considering the investment cost,investment time and uncertainty of cash flow,a dynamic real option pricing model of patent value is established.Considering the possibility that the investment may fail in the middle of the investment,the patent option is specifically added to the abandonment option,and the Monte Carlo simulation method is used to establish the numerical option pricing model of the patent option with the abandonment option,and then the numerical option pricing model is used for the patent investment empirical analysis of a type of IT enterprise.The empirical results show that the patent pricing evaluation based on the traditional real option pricing model without considering the success of the investment may have the risk of underestimating the value of the patent option compared with the pricing of the patent option with the abandonment option.
【Fund】: 教育部人文社会科学研究一般项目青年基金(17YJC630236);; 中南财经政法大学中央高校基本科研业务费专项资金(2722019JCG024)
【CateGory Index】: O211.6;F204
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Chinese Journal Full-text Database 1 Hits
1 GE Xiang-yu;ZHAO Yi;ZHOU Yan-li;LI Qing;Center for Studies of Intellectual Property Righs,Zhongnan University of Economics and Law;School of Statistics and Mathematics,Zhongnan University of Economics and Law;Emst Young Global Limited;School of Finance,Zhongnan University of Economics and Law;;Values of Patents in the Development of High Technology Firms:Modelling and Simulation with Real Option Pricing driven by the Jump-Diffusion Process[J];系统管理学报;2015-03
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