Research and Application of E-Commerce Company Evaluation Using Real Option Method Based On B-S Model

摘要

This paper concentrates on the innovative application of the real option pricing model based on BlackScholes model in e-commerce company evaluation. Firstly, the paper briefly reviews the current situation of the research of real option pricing models and the e-commerce enterprise evaluation; secondly, the concept of real option and its three pricing models are introduced, with the one based on B-S model; thirdly, two cases are analyzed to illustrate the applicability of the evaluation model, including the case of an investment in acquisition of a medium-sized e-commerce company and the one of the company evaluation of Alibaba in 2009.