Research on the Valuation Mechanism of China's High-tech Start-up Enterprises in the Stage of High-Quality Development——the Compound Option Method

Abstract

China's economic development has shifted from a period of high-speed growth to a period of high-quality development.The proportion of new high-tech start-up enterprises in the new economic growth stage has been increasing, which has become an important power to achieve high-quality development of society. Different from previous traditional studies, this paper combines the characteristics of high-tech start-ups, introduces the concept of compound real option pricing, and explores a new way of evaluating the value of high-tech start-ups, so as to scientifically and reasonably measure the true value of high-tech start-ups in different stages, which is helpful for venture investors to correctly evaluate the equity value of high-tech start-ups in different periods and improve the accuracy of investment decisions. And through case analysis, it further verifies the effectiveness of compound real options in the multi-stage value evaluation of enterprises.