品牌延伸战略价值的实物期权评价新方法——基于语言算子扩展与成功率分析的模糊复合视角  

A New Real Option Evaluation Method for Brand Extension Strategy Value

作　　者：任培民[1] 赵树然[2] 张苗 Ren Peimin;Zhao Shuran;Zhang Miao(School of Economics,Qingdao University;School of Economics,Ocean University of China)

机构地区：[1]青岛大学经济学院 [2]中国海洋大学经济学院

出　　处：《数量经济技术经济研究》2018年第8期125-139,共15页Journal of Quantitative & Technological Economics

基　　金：教育部人文社会科学研究项目(12YJC630161);山东省自然科学基金(ZR2017MG005)的资助

摘　　要：研究目标:提出一种品牌延伸战略价值评估的实物期权新方法。研究方法:本文采用语言算子刻画未来收益现值,利用基于实物期权二叉树定价思想的正态模糊数扩展法来量化语言算子。在此基础上,提出成功率因子改进实物期权定价公式,构造出蕴含多种机会价值的模糊复合实物期权品牌延伸价值评价模型。研究发现:在实证研究中,选取了一个典型的企业品牌延展案例,通过建立蕴含多种机会价值的模糊复合实物期权品牌延伸价值评价模型,得到了品牌延伸战略价值评估值。进而将不同方法加以对比,分析本文方法合理性。研究创新:将模糊数与复合实物期权相结合、基于期权定价公式的语言算子扩展、运用成功率修正实物期权定价公式。研究价值:模型符合品牌延伸价值评价的现实数据特点,同时将战略设计与战略评价相结合,能够有效地捕捉延伸战略的机会价值。Research Objectives:To propose a new method of real options for brand extension of strategic value assessment.Research Methods:This study uses the language operator to describe the present value of future returns,and uses the normal fuzzy number extension principle to quantify the language operator based on the real option binary tree pricing idea.On this basis,this paper proposes a success rate factor to improve the pricing formula of real options,and then builds a fuzzy compound real option brand extension value evaluation model which contains multiple opportunity value.Research Findings:In the empirical research,we select a typical enterprise brand extension case.By establishing fuzzy compound real option brand extension value evaluation model which contains multiple opportunity value,we obtain the value of the brand extension evaluation.Then we compare different methods to analyze the rationality of this method.Research Innovations:Combining Fuzzy Numbers with Compound Real Options.Language Operator Extension Based on Option Pricing Formulas.The Success Rate is used to correct the Real Option Pricing Formula.Research Value:The model meets the real data characteristic of the brand extension value evaluation,and combines the strategic design with the strategic evaluation to effectively capture the opportunity value of the extension strategy.

关 键 词：品牌延伸战略 语言算子 模糊复合实物期权 价值评价 成功率分析 

分 类 号：F224[经济管理—国民经济] F272