本文選題：企業(yè)價(jià)值評(píng)估 + 市盈率��； 參考：《遼寧大學(xué)》2014年碩士論文

【摘要】：價(jià)格乘數(shù)法是企業(yè)相對(duì)價(jià)值評(píng)估法的基本方法之一，也是企業(yè)價(jià)值評(píng)估中常用一種方法，，它是利用類似企業(yè)的市場(chǎng)定價(jià)并通過(guò)選取恰當(dāng)?shù)膬r(jià)值比率乘數(shù)來(lái)估計(jì)被評(píng)估企業(yè)(目標(biāo)企業(yè))價(jià)值的一種方法,也稱可比交易價(jià)值法。隨著我國(guó)經(jīng)濟(jì)體制改革的逐步推進(jìn),企業(yè)間的兼并、聯(lián)合、股份制改造等產(chǎn)權(quán)交易的加深和呈現(xiàn)縱深化和國(guó)際化的發(fā)展趨勢(shì)，價(jià)格乘數(shù)法作為企業(yè)價(jià)值評(píng)估方法的重要方法之一必然得到廣泛的應(yīng)用，然而，價(jià)格乘數(shù)法（可比交易價(jià)值法）評(píng)估企業(yè)業(yè)價(jià)值的方法多種多樣，包括PE、PB、收入乘數(shù)、EV/EBIT(DA)乘數(shù)法等等，如何選取合適的價(jià)值比率乘數(shù)便成為了困擾大多數(shù)評(píng)估師應(yīng)用市場(chǎng)法進(jìn)行企業(yè)價(jià)值評(píng)估時(shí)的難題。 不同的價(jià)值比率乘數(shù)代表著不同行業(yè)或同一行業(yè)不同企業(yè)或同一企業(yè)所處不同生命周期時(shí)不同的價(jià)值驅(qū)動(dòng)因素，選擇恰當(dāng)?shù)膬r(jià)值比率乘數(shù)進(jìn)行企業(yè)價(jià)值評(píng)估必然能得出更為被市場(chǎng)所認(rèn)可的評(píng)估結(jié)果，因此本文重點(diǎn)剖析了應(yīng)用市場(chǎng)法進(jìn)行企業(yè)價(jià)值評(píng)估時(shí)各價(jià)值比率乘數(shù)的適用性和選擇價(jià)值比率乘數(shù)進(jìn)行企業(yè)價(jià)值評(píng)估的具體應(yīng)用方法以及運(yùn)用此方法應(yīng)注意的問(wèn)題等內(nèi)容，并以各種類型的價(jià)值比率乘數(shù)作為研究對(duì)象，深入了解各個(gè)價(jià)值比率乘數(shù)的基本涵義，剖析各個(gè)價(jià)值比率乘數(shù)的驅(qū)動(dòng)因子和影響因素，提出對(duì)于如何在應(yīng)用市場(chǎng)法評(píng)估企業(yè)價(jià)值時(shí)選擇合適的價(jià)值比率乘數(shù)的看法，并嘗試給出自己的理論支撐和現(xiàn)實(shí)應(yīng)用依據(jù)。 在本文的最后，針對(duì)上述內(nèi)容，通過(guò)在評(píng)估企業(yè)價(jià)值的實(shí)踐過(guò)程當(dāng)中對(duì)已有的價(jià)值比率乘數(shù)模型進(jìn)行簡(jiǎn)單的修正，并擬通過(guò)應(yīng)用案例列舉和實(shí)證分析的方法對(duì)價(jià)值比例乘數(shù)的選擇方法進(jìn)行分析和改進(jìn)。
[Abstract]:The price multiplier method is one of the basic methods of enterprise relative value evaluation, and it is also a common method in enterprise value evaluation.It is a method to estimate the value of the evaluated firm (target firm) by using the market pricing of similar enterprises and selecting the appropriate value ratio multiplier, also known as the comparable transaction value method.With the gradual advancement of the economic system reform in China, the deepening and internationalizing trend of property rights transactions, such as mergers, joint ventures and joint stock system transformation among enterprises,As one of the important methods of enterprise value evaluation, the price multiplier method is bound to be widely used. However, the price multiplier method (comparable transaction value method) has a variety of methods to evaluate the enterprise industry value.How to select the appropriate value ratio multiplier has become a difficult problem for most valuers to use the market method to evaluate the enterprise value, including PET PBS, EV / EBITT DADA-multiplier method and so on, and how to select the appropriate value ratio multiplier has become a difficult problem for most valuers to use the market method to evaluate the enterprise value.Different value ratio multipliers represent different value drivers in different industries or industries, different enterprises or different life cycles of the same enterprise,Choosing the appropriate value ratio multiplier to evaluate the value of an enterprise is bound to lead to a more acceptable assessment result by the market.Therefore, this paper mainly analyzes the applicability of each value ratio multiplier when applying the market method to enterprise value assessment, the specific application method of selecting the value ratio multiplier for enterprise value evaluation, and the problems that should be paid attention to in the application of this method.Taking various types of value ratio multipliers as the object of study, the basic meaning of each value ratio multiplier is deeply understood, and the driving factors and influencing factors of each value ratio multiplier are analyzed.This paper puts forward the opinion on how to select the appropriate value ratio multiplier when applying the market method to evaluate the enterprise value, and tries to give its own theoretical support and practical application basis.At the end of this paper, in view of the above contents, the existing value ratio multiplier model is simply modified in the process of evaluating the enterprise value.The method of selecting the value proportional multiplier is analyzed and improved by using the method of case enumeration and empirical analysis.
【學(xué)位授予單位】：遼寧大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F275;F224

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 張鼎祖;;對(duì)市場(chǎng)法評(píng)估企業(yè)價(jià)值的思考[J];財(cái)會(huì)月刊;2006年02期

2 曲若鵬;;企業(yè)股權(quán)價(jià)值評(píng)估的兩種方法[J];財(cái)會(huì)月刊;2011年32期

3 朱晶晶;;企業(yè)價(jià)值評(píng)估的市場(chǎng)法和收益法比較[J];審計(jì)與理財(cái);2008年11期

4 陳作華;孫兆明;;市場(chǎng)法在企業(yè)價(jià)值評(píng)估中的應(yīng)用[J];財(cái)會(huì)通訊(理財(cái)版);2006年01期

5 盧志貞;王一姣;;資產(chǎn)評(píng)估市場(chǎng)法應(yīng)用中的差異因素[J];企業(yè)研究;2010年18期

6 曹玉貴;;企業(yè)價(jià)值評(píng)估方法比較與實(shí)用性分析[J];華北水利水電學(xué)院學(xué)報(bào)(社科版);2009年06期

7 劉宇;周俊霞;張帥;;試論企業(yè)價(jià)值評(píng)估方法的選擇與運(yùn)用[J];商業(yè)會(huì)計(jì);2013年05期

8 戴大昀;;公司并購(gòu)中價(jià)值評(píng)估方法比較及選擇[J];商;2013年05期

9 岳修奎,季珉;市場(chǎng)法在企業(yè)價(jià)值評(píng)估中的應(yīng)用[J];中國(guó)資產(chǎn)評(píng)估;2005年10期

10 潘晶;沈林濤;;市場(chǎng)法在企業(yè)價(jià)值評(píng)估中應(yīng)用的研究[J];中國(guó)資產(chǎn)評(píng)估;2008年07期

本文編號(hào)：1772680