E3S Web Conf.
Volume 213, 20202nd International Conference on Applied Chemistry and Industrial Catalysis (ACIC 2020)
|Number of page(s)
|Environmental Chemical Research and Energy-saving Technology Application
|01 December 2020
Research on Quantitative Evaluation Model of Investment Value of Power Grid Enterprises’ New Business Based on Real Options
School of Economics and Management, North China Electric Power University. Beijing, China
2 Economic and Technical Research Institute of State Grid Hebei Electric Power Co., Ltd. Hebei, China
3 State Grid Economic Technological Research Institute Co., Ltd. Beijing, China
4 Institute of Industrial Economics, Chinese Academy of Social Sciences. Beijing, China
* Corresponding author: email@example.com
With the continuous advancement of the power system reform, especially after the introduction of equipment capital to participate in the competition, the business development of power grid companies is facing increasingly severe internal and external tests. While continuing to do a good job in regulated businesses centered on transmission and distribution business, vigorously develop new businesses and strive to achieve high-quality development in a complex market environment. Through the evaluation of the intrinsic value of new businesses of power grid companies, investors can clarify the true value of new businesses, better identify and avoid potential risks, and encourage investors to invest rationally. This article first expounds the types of new businesses of power grid companies, introduces the basic overview of real option theory, and constructs a value evaluation model of discounted cash flow model plus real option theory pricing model, and through case analysis, the feasibility of empirical option theory in the evaluation of new business of power grid investment value is verified.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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