技术资产的估价应首推超额收益法清华大学经济管理学院陈涛涛随着我国市场经济的迅速发展，技术作为一项重要的生产要素，越来越受到人们的重视，把技术作为资产直接进行投资、参股的情况也越来越多了。这种情况下，能否对技术资产的价值进行合理的估价，就成为投资人最为... Valuation of technological assets should be the first to push out excess returns. Chen Taotao, School of Economics and Management, Tsinghua University With the rapid development of China’s market economy, technology, as an important production factor, has received more and more attention from people and invested technology as an asset. There have also been more and more equity participations. Under this circumstance, whether or not a reasonable valuation of the value of technology assets can become the most investor...