企业价值评估技术方法研究.docVIP

本科毕业论文 企业价值评估技术方法研究 作 者 赵海燕 内 容 摘 要 企业价值评估并不是一个新课题，对于这个问题的研究也比较深入，并且已经取得了阶段性的重大成果。但是，企业价值评估方法种类繁多，每种方法都有各自的优点和缺点，这种情况会使价值评估人员在工作实践中无所适从。 本文对几种企业价值评估方法加以比较,分析研究企业价值评估理论以及企业价值评估技术方法的应用和问题，认为在三种企业价值评估方法中现金流量贴现法是最为合适的方法。 本文共包括以下三个部分： 第一部分，分析企业价值评估的社会需求及双重目标。 第二部分，分析企业价值评估技术方法在应用中的问题。其中详细分析了成本法和市场法在评估中的缺陷与不足。 第三部分，详细讲解现金流量贴现法，分别从以下六个方面来分析1.现金流量贴现法的技术基础，2.现金流量分析，3.折现率的确定，4.现金流量的变动特征分析，5.现金流量贴现法的一般模式，6.现金流量贴现法的优缺点。 通过上述比较，笔者认为最为合理的企业价值评估方法是现金流量贴现法。 本文创新之处在于提出了“企业价值评估的社会需求及双重目标”这一概念。 关键词：企业价值评估 现金流量贴现法 现金流量 Abstract Business valuation is not a new topical. The research of this problem is quite thorough, and has already obtained the gradual significant achievement. But the type of business valuation method is numerous; each method has respective merit and shortcomings. This kind of situation can cause the person who value the company is at a loss how to proceed in the working practice. This article performs the comparison to the three methods. Divide three parts to study business valuation theory as well as the application of business valuation technology method. The writer recommends discounted cash flow method is the most appropriate method of the three. This thesis can be divided into three parts: Firstly, it analyses the social demand and double goals of business valuation. Secondly, it analyses the problem which in the application of business valuation technology method. Thirdly, it explains in detail discounted cash flow method. It divides six parts to study discounted cash flow method. 1. The technique foundation of discounted cash flow method, 2.It analysis cash flow, 3. The general mode of the discounted cash flow method, 4. The fluctuation characteristic analysis of cash flow, 5. It defines the rate of converting into cash, 6. The merit and shortcomings of discounted cash flow method. Generally speaking, the author thinks the most reasonable method is discounted cash flow method. Key words: business valuation; discounted cash flow method; cash fl