| Summary: | 碩士 === 國立臺灣大學 === 財務金融學研究所 === 106 === In response to the implementation of IFRS 9, stocks of unpublished companies must be priced at fair value. Because these financial products are not publicly traded, they might be difficult to evaluate their fair value. In response to the recent boom in industrial biopharmaceuticals, this article provides a relatively simple method to evaluate fair value in a market method. However, the traditional market approach has no objective criteria in determining the applicable multiplier. The author uses the same industry and the main products of operation as a screening condition to find out the comparable companies, and a regression model is then built from these comparable companies. After the estimated market price is calculated, the discount factor is finally considered, and its fair value is obtained.
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