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本文将自相关期权定价模型引入到知识产权估值中,给出了七个参数的确定方法,并利用D-W统计量来计算历史影响系数。利用实例分析了知识产权的收益具有一阶自相关性,其历史影响系数体现了企业内部管理效应,并与收益法、B-S期权定价模型进行比较,结果表明自相关期权定价模型能够充分体现知识产权的三种价值,有效避免价值低估,是合理的评估途径。
In this paper, the self-related option pricing model is introduced into the valuation of intellectual property, and seven methods for determining the parameters are given. The D-W statistic is used to calculate the historical influence coefficient. The case analysis shows that the return of intellectual property has first-order autocorrelation. The historical influence coefficient reflects the internal management effect of the enterprise, and compared with the income method and the BS option pricing model. The results show that the auto-related option pricing model can fully reflect the intellectual property The three kinds of value, to effectively avoid the value of underestimated, is a reasonable way to assess.