本文關(guān)鍵詞：收益法評估企業(yè)價值影響因素的敏感性分析　出處：《長安大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 收益法 企業(yè)價值 企業(yè)價值評估 影響因素 敏感性分析

【摘要】：隨著現(xiàn)代企業(yè)制度的建立與發(fā)展，企業(yè)間資產(chǎn)的流動愈加頻繁，企業(yè)兼并、股權(quán)收購、資產(chǎn)抵押等經(jīng)濟(jì)活動的出現(xiàn)均需要以企業(yè)價值評估的結(jié)果作為價值依據(jù)，企業(yè)價值評估值的合理性也顯得尤為重要。為提高企業(yè)價值評估的準(zhǔn)確性，評估人員需對企業(yè)價值的影響因素進(jìn)行全面分析，以在評估實(shí)踐中采取相應(yīng)措施降低這些因素帶來的風(fēng)險。本文主要以收益法為主線分析企業(yè)價值的影響因素，并運(yùn)用敏感性分析計(jì)算出各個影響因素的具體影響程度，找出敏感性因素。本文的研究成果對評估人員充分認(rèn)識影響企業(yè)價值評估結(jié)果的敏感性因素，并根據(jù)敏感性因素的變化預(yù)測企業(yè)價值的變化趨勢，，提高評估結(jié)果的準(zhǔn)確性有積極意義。 本文主要研究內(nèi)容如下： 1、首先闡述企業(yè)價值評估收益法的基本理論，給出企業(yè)價值評估定義，總結(jié)企業(yè)價值評估的特征，介紹企業(yè)價值評估收益法這一基本方法。 2、以企業(yè)價值評估收益法為基礎(chǔ)，從收益法的三個基本參數(shù)出發(fā)，分析企業(yè)價值評估結(jié)果的影響因素，將影響因素分為企業(yè)預(yù)期收益影響因素、折現(xiàn)率影響因素和企業(yè)收益年限影響因素，進(jìn)而對企業(yè)價值的三大影響因素進(jìn)行深入、全面的總結(jié)歸納。 3、引入項(xiàng)目評價中的常用方法——敏感性分析，將敏感性分析方法運(yùn)用到企業(yè)價值影響因素分析中，以分析出各個影響因素的具體影響程度。 4、引用具體的企業(yè)價值評估案例，通過案例中各個指標(biāo)的分析，企業(yè)價值的影響因素得到全面體現(xiàn)，并根據(jù)此評估案例，計(jì)算出各個指標(biāo)的影響能力，得出影響企業(yè)價值較大的兩個因素。
[Abstract]:With the establishment and development of modern enterprise system, the flow of assets between enterprises is becoming more and more frequent. The emergence of economic activities such as mergers, equity acquisitions, asset mortgages and other economic activities need to be based on the results of enterprise value evaluation as the value basis. In order to improve the accuracy of enterprise value evaluation, evaluators need to make a comprehensive analysis of the influencing factors of enterprise value. In order to take appropriate measures to reduce the risk brought by these factors in the evaluation practice, this paper mainly takes the income approach as the main line to analyze the influence factors of enterprise value. And use sensitivity analysis to calculate the specific impact of each factor to find out the sensitivity factors. The research results of this paper to the evaluators fully understand the impact of enterprise value evaluation results of the sensitivity factors. It is of great significance to predict the change trend of enterprise value according to the change of sensitivity factors and to improve the accuracy of evaluation results. The main contents of this paper are as follows: 1. Firstly, the basic theory of income method of enterprise value evaluation is expounded, the definition of enterprise value evaluation is given, the characteristics of enterprise value evaluation are summarized, and the basic method of income method of enterprise value evaluation is introduced. 2. Based on the income method of enterprise value evaluation, the paper analyzes the influencing factors of the result of enterprise value evaluation from the three basic parameters of the income method, and divides the influencing factors into the factors affecting the expected income of the enterprise. The influence factors of discount rate and enterprise income years, and then the three major influence factors of enterprise value are summarized and summarized comprehensively. 3. The sensitivity analysis, which is a common method in project evaluation, is introduced, and the sensitivity analysis method is applied to the analysis of the influencing factors of enterprise value in order to find out the specific influence degree of each influencing factor. 4, citing specific enterprise value evaluation case, through the analysis of each index in the case, the influencing factors of enterprise value are fully reflected, and according to this evaluation case, the influence ability of each index is calculated. Two factors that influence the value of the enterprise are obtained.
【學(xué)位授予單位】：長安大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F426.471;F406.7;F233

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本文編號：1355756