I摘要随着经济的蓬勃发展，主要的风险资本就集中聚集在风险企业中。双方在交易时，风险企业要对其价值进行评估，交易的双方要认识到风险企业的未来价值，而价值评估就可以促进这个未来价值的增长。不仅如此，投资者更是可以依据这个评估价值来进行决策。所以，要进行科学的评估，这对风险企业价值评估显得尤为重要。但是，风险企业具有不确定性以及高风险性，正是因为这两个特点，所以传统的净现值法就不能准确的对其进行评估。本文首先对风险企业价值评估进行了简要阐述，并且对目前风险企业价值评估的特点及重要性进行了分析；接着本文采用了基于扩展 NPV 的风险企业价值评估方法；以佳和公司的价值评估作为具体案例，利用扩展 NPV 法对其企业价值进行了评估；最终通过对评估过程中出现的问题作出相应对策，对企业评估作出结论。希望本文的研究成果，能够为风险企业价值的评估研究提供一定的新思路。关键词：风险企业 扩展 NPV 实物期权 NPVIIIAbstractWith the booming economy, venture capital has become the main focus of venture capital. Risk in the process of trading, the value assessment of enterprises is not only the trade both parties to realize the enterprise future value increased risks driving factors, is a important basis for investors on the trading decisions, therefore, scientific evaluation methods of enterprise value assessment of the risk enterprises is particularly important. However, due to the uncertainty and high risk of venture enterprise operation, it is often impossible to evaluate the value accurately using the traditional net present value method. In this background, this article first to the risk assessment of enterprise value were briefly reviewed in this paper, the, and some commonly used methods for the risk assessment of enterprise value are analyzed; Then the article USES the risk enterprise value estimation method based on the extension NPV. Finally, with the evaluation of the value of the company as a specific case, the value of the en...
