私募股权投资的估值问题研究进展  

Research advances on the valuation issue of private equity investment

作　　者：朱其明[1] 费为银[1] 费晨[2] 

机构地区：[1]安徽工程大学数理学院,芜湖241000 [2]东华大学旭日工商管理学院,上海200051

出　　处：《南京信息工程大学学报（自然科学版）》2017年第3期332-340,共9页Journal of Nanjing University of Information Science & Technology（Natural Science Edition）

基　　金：国家自然科学基金(71171003;71571001)

摘　　要：阐述了私募股权投资的估值问题.首先简要介绍了投资组合问题的发展历史与研究成果.接着较为详细地论述了私募股权投资的估值问题的研究现状,包括有限合伙人的投资组合选择,以及对投资企业的价值评估体系和评估方法的研究,并给出了所要研究的模型,即含有未支撑风险的私募股权投资模型.最后给出所要研究模型在通胀环境、Knight不确定环境下以及跳扩散环境下的拓展框架.In this paper, we explain the valuation issue of private equity investment. First, we briefly introduce the development history and research results of the portfolio problem.Then we discuss the research situation of the valuation issue of private equity investment in detail, including the portfolio selection of limited partners, as well as the research on the value evaluation system and evaluation methods of investment enterprises. And we give the model to be studied, namely the private equity model with unspanned risk.Finally, we give the expansion of the framework of the model under inflation, Knightian uncertainty and jump diffusion environment.

关 键 词：投资组合 私募股权投资 随机分析 通货膨胀 Knight不确定 跳风险 

分 类 号：O211.63[理学—概率论与数理统计] F830.9[理学—数学]