Comparing conditions betweem exiting competition with not exiting competition, we come to conclusion that we can overrate the enterprise valuation if not considering the prelatic competition.
通过无竞争条件和竞争条件
种情况
对比分析,可以看出,
果并购企业没有考虑成长期权
预期竞争损失,就很可能高估了并购
实物期权价值。