Japan Society for the Promotion of Science:Grants-in-Aid for Scientific Research
Date (from‐to) : 2012/04 -2015/03
Author : OGURA Yasuhiro; DONG Jinghui
In this research, first of all, we try to elucidate the reality of the investment behavior of Japanese corporate venture capital firms through a questionnaire survey. Based on the analysis results of the questionnaire survey, we discuss the spirit of an entrepreneur which is required to be the management of a venture firm nowadays on the point of view of practical business administration. Furthermore, we examine the problematic issues in the case of using the real options method as an evaluation method to evaluate a venture firm when a venture capital firm plans to invest in the venture firm, and propose a method to solve the issues. Finally, we propose a real options model for determining the optimal timing of a merger and acquisition as a method of realizing the revenue from the investment in a venture firm.