It is a fundamental theorem of option theory that the sum of the option prices on individual firms is worth more than a single option on the value of all the firms.

选择理论的基本定理是单一公司的所有选择权价格的综合大于所有公司单一选择权价格的总合。

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So measuring value of material option by pricing theory option is a break-through method and can be more scientific and reasonable.

将期权定价理论应用于度量实物期权的价值，是对传统财务决策方法的突破，使企业财务决策行为更为科学化、理性化。

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The traditional cash flow analysis method hardly assess the value of high tech enterprise correctly, while the option pricing theory can compensate the traditional pricing method shortage.

价值评估机制是风险投资战略联盟的重要机制，传统现金流分析法难以准确评估高新技术企业的价值，但期权定价理论却可弥补传统定价方法的不足。

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