本文選題：文化創(chuàng)意 + 文化創(chuàng)意行業(yè)��； 參考：《中央民族大學(xué)》2012年碩士論文

【摘要】：文化創(chuàng)意行業(yè)近年來發(fā)展迅猛,目前已經(jīng)在世界各國經(jīng)濟(jì)發(fā)展中占據(jù)重要的位置。隨著行業(yè)市場的不斷增長,如今這個(gè)高投資回報(bào)的領(lǐng)域開始吸引資本市場目光。然而,文化創(chuàng)意行業(yè)由于本身產(chǎn)品在市場中價(jià)值的不確定性,使得行業(yè)投資風(fēng)險(xiǎn)偏高。傳統(tǒng)的價(jià)值評(píng)估方法雖然能夠評(píng)估現(xiàn)有的資產(chǎn)價(jià)值,但對(duì)文化創(chuàng)意產(chǎn)品這種未來價(jià)值增長不確定的投資卻很難進(jìn)行評(píng)估。實(shí)物期權(quán)價(jià)值評(píng)估方法恰恰解決了這個(gè)問題,實(shí)物期權(quán)價(jià)值評(píng)估方法能夠?qū)ν顿Y項(xiàng)目中具有不確定性的價(jià)值增長提供具體的量化模型,相對(duì)準(zhǔn)確地評(píng)估出未來的增長價(jià)值。目前運(yùn)用此方法在文化創(chuàng)意行業(yè)進(jìn)行投資分析的研究還比較少,本文以科學(xué)嚴(yán)謹(jǐn)?shù)难芯糠椒ㄟM(jìn)行深入分析論證,并通過實(shí)際企業(yè)案例體現(xiàn)出研究的意義。 第一章,首先介紹了國內(nèi)外文化創(chuàng)意行業(yè)的發(fā)展,并解釋了資本市場與文化創(chuàng)意行業(yè)結(jié)合的重要性。隨后給出了要研究的問題和本文的總體框架。 第二章,分別從文化創(chuàng)意、文化創(chuàng)意行業(yè)、實(shí)物期權(quán)、文化創(chuàng)業(yè)行業(yè)投資價(jià)值評(píng)估四個(gè)研究領(lǐng)域?qū)鴥?nèi)外的研究進(jìn)行了文獻(xiàn)綜述,評(píng)價(jià)了現(xiàn)有的研究成果。 第三章,深入分析了文化創(chuàng)意行業(yè)的特征,并通過文化創(chuàng)意產(chǎn)品本身的特征差異,價(jià)值、價(jià)值鏈增值,以及投入資本的循環(huán)等方面分析了文化創(chuàng)意行業(yè)的價(jià)值內(nèi)涵,本章是對(duì)后而進(jìn)行具體論證的重要依據(jù)。 第四章，，首先介紹了傳統(tǒng)評(píng)估方法,隨后對(duì)實(shí)物期權(quán)在不同運(yùn)用實(shí)踐階段表現(xiàn)出的不同種類進(jìn)行了定義和分析,并且與傳統(tǒng)的價(jià)值評(píng)估方法進(jìn)行了比較,分析出了實(shí)物期權(quán)在文化創(chuàng)意企業(yè)投資評(píng)價(jià)上的優(yōu)勢(shì)。 第五章,通過第三章的文化創(chuàng)意行業(yè)價(jià)值內(nèi)涵分析結(jié)果,運(yùn)用實(shí)物期權(quán)方法對(duì)文化創(chuàng)意產(chǎn)品構(gòu)建出B-S框架模型,確定模型中具體參數(shù)。 第六章,最后結(jié)合具體的企業(yè)案例來進(jìn)一步加強(qiáng)論證實(shí)物期權(quán)評(píng)估方法在文化創(chuàng)意行業(yè)上投資決策的有效性。 實(shí)物期權(quán)商業(yè)研究目前是比較熱門的研究方向,筆者通過本文的研究詮釋了文化創(chuàng)意行業(yè)的內(nèi)在價(jià)值,幫助投資人在市場中發(fā)現(xiàn)投資機(jī)會(huì)和規(guī)避投資風(fēng)險(xiǎn)。同時(shí)，本文系統(tǒng)的研究了文化創(chuàng)意企業(yè)價(jià)值內(nèi)涵的獨(dú)特之處,用定量的價(jià)值評(píng)估方法對(duì)定性的文化創(chuàng)意行業(yè)進(jìn)行了評(píng)估。希望能為今后的文化創(chuàng)意行業(yè)的資本市場發(fā)展做出貢獻(xiàn)。
[Abstract]:The cultural and creative industries have developed rapidly in recent years, and now occupy an important position in the economic development of all countries in the world. As the industry continues to grow, now this high return on investment in the field began to attract the attention of capital markets. However, because of the uncertainty of the value of its own products in the market, the industry investment risk is on the high side. Although traditional valuation methods can evaluate the value of existing assets, it is difficult to evaluate the investment of cultural and creative products whose future value growth is uncertain. The real option valuation method solves this problem precisely. The real option value evaluation method can provide a specific quantitative model for the uncertain value growth in the investment project and relatively accurately evaluate the future growth value. At present, there are few researches on investment analysis in cultural and creative industries by this method. This paper uses scientific and rigorous research methods to conduct in-depth analysis and demonstration, and shows the significance of the research through practical enterprise cases. The first chapter introduces the development of cultural and creative industries at home and abroad, and explains the importance of the combination of capital market and cultural and creative industries. Then the problems to be studied and the general framework of this paper are given. In the second chapter, the literature review of domestic and foreign research on cultural creativity, cultural creative industry, real option, investment value evaluation of cultural entrepreneurship industry is carried out, and the existing research results are evaluated. The third chapter analyzes the characteristics of the cultural and creative industries, and analyzes the value connotation of the cultural and creative industries through the differences of the characteristics of cultural and creative products, the value chain appreciation, and the circulation of investment capital. This chapter is an important basis for concrete argumentation. Chapter four introduces the traditional evaluation methods, then defines and analyzes the different kinds of real options in different application stages, and compares them with the traditional valuation methods. The advantages of real options in investment evaluation of cultural and creative enterprises are analyzed. The fifth chapter, through the third chapter of the cultural and creative industry value analysis results, the use of real options to cultural and creative products to build a B-S framework model, determine the specific parameters of the model. In the sixth chapter, combining with specific enterprise cases, we further strengthen the effectiveness of the real option evaluation method in the cultural and creative industries. The commercial research of real options is a hot research direction at present. The author interprets the intrinsic value of cultural and creative industry through the research of this paper, and helps investors to find investment opportunities and avoid investment risks in the market. At the same time, this paper systematically studies the unique value connotation of cultural and creative enterprises, and evaluates the qualitative cultural and creative industries with quantitative value evaluation method. I hope to contribute to the development of the capital market in the cultural and creative industries in the future.
【學(xué)位授予單位】：中央民族大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F832.48;G124;F224

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