本文關鍵詞： 礦資產評估 礦資產評估準則 股權資本市場 礦業(yè)資本市場　出處：《中國地質大學(北京)》2016年博士論文　論文類型：學位論文

【摘要】：礦業(yè)是典型的資本密集型行業(yè),需要大力依靠礦業(yè)資本市場為其發(fā)展提供資本保障。礦業(yè)資本市場是指給礦業(yè)公司提供資本的市場,主要包括股權資本和債權資本。礦資產評估是對礦產資源貨幣價值量的確定,也是礦企業(yè)在礦業(yè)資本市場融資和交易時不可或缺的重要組成部分。本次研究通過對礦業(yè)股權資本市場和礦資產評估現(xiàn)狀和發(fā)展方向的剖析,探索礦資產評估在股權資本市場中的重要作用,分析礦資產評估在礦業(yè)股權資本市場中應用的相關問題,并參考國外礦資產評估及其在股權資本市場的發(fā)展道路,為國內礦資產評估在股權資本市場中的應用提出著實有效的借鑒作用和完善建議。本次研究取得如下主要研究成果和認識:1、深入剖析了我國礦資產評估和礦業(yè)股權資本市場所存在的問題。包括:礦資產評估理論與方法問題;礦資產評估準則規(guī)范問題;礦資產評估在礦業(yè)資本市場應用問題;礦資產評估監(jiān)管和風險控制問題。這些問題不僅限制了國內礦業(yè)資本市場的發(fā)展,也使得礦資產評估的發(fā)展失去了市場支撐。2、總結歸納了礦資產評估在礦業(yè)資本市場中的重要作用。包括:協(xié)助礦業(yè)企業(yè)管理層決策;保護股東權益;維護股權市場的穩(wěn)定和完整性;促進完成礦資產相關的交易;完善礦業(yè)企業(yè)的公司管制;促進礦業(yè)企業(yè)融資;執(zhí)行法律法規(guī)等。3、研究認為目前制定國際統(tǒng)一的礦資產評估準則的條件尚不成熟,也不具備可操作性。各國應當互相借鑒,博采眾長,結合本國礦業(yè)資本市場現(xiàn)狀,制定適合國情的礦資產評估準則,并建立以礦資產評估工作為核心的溝通機制與合作平臺。積極探索礦資產評估準則和普通資產評估準則之間的有機接軌,促使礦資產評估更好地融入現(xiàn)代資本市場運營,為礦資產評估的應用提供更大的發(fā)展空間。4、借鑒國外礦業(yè)資本市場中礦資產評估應用的經驗,研究提出了健全和完善我國礦資產評估的對策與建議。包括:出臺措施開放礦業(yè)資本市場,促進與國際礦業(yè)資本市場的接軌;改善國內礦業(yè)資本市場的投資環(huán)境,形成多元化的投資結構,發(fā)展多層次的交易體系;強化礦業(yè)資本市場服務體系建設;加強投資者對礦資產評估理論知識的普及教育,充分發(fā)揮投資者和市場參與者的作用等。5、針對現(xiàn)有礦資產評估方法,研究提出了具體的改進方案。包括:改進評估方法的選取原則,適當放寬評估途徑區(qū)分,在遵循礦資產評估原則的基礎上,加強混合評估法的理論研究和方法實踐;調整對可比交易法和現(xiàn)金流貼現(xiàn)法的適用范圍,確保其科學合理性;明確區(qū)分“技術價值”和“市場價值”兩個概念之間的異同,用折溢價法在二者之間進行調整和轉換。
[Abstract]:Mining industry is a typical capital-intensive industry, which needs to rely heavily on mining capital market to provide capital guarantee for its development. Mining capital market refers to the market that provides capital to mining companies. Mainly including equity capital and creditor's rights capital. The evaluation of mineral assets is the determination of the monetary value of mineral resources. It is also an indispensable part of mining enterprises in the financing and trading of mining capital market. This study analyzes the present situation and development direction of mining equity capital market and mining assets evaluation. This paper explores the important role of mineral assets assessment in equity capital market, analyzes the related problems in the application of mineral assets assessment in mining equity capital market, and refers to the development of foreign mineral assets assessment and its development in equity capital market. For the application of domestic mineral assets evaluation in the equity capital market, the paper puts forward some practical and effective reference functions and suggestions for perfection. This study has obtained the following main research results and understanding: 1, and has deeply analyzed the mineral assets evaluation and mining stocks in our country. The problems existing in the right capital market, including: the theory and method of mining assets evaluation; These problems not only restrict the development of domestic mining capital market, but also limit the development of domestic mining capital market. It also makes the development of mineral assets evaluation lose market support. It summarizes and summarizes the important role of mineral assets assessment in mining capital market, including: assisting the management decision-making of mining enterprises; protecting the rights and interests of shareholders; To maintain the stability and integrity of the equity market; to promote the completion of mining asset-related transactions; to improve the corporate regulation of mining enterprises; to promote the financing of mining enterprises; Implementing laws and regulations, etc., the study concluded that the conditions for formulating international unified mining assets evaluation standards are not yet mature and operable. All countries should learn from each other, learn from all kinds of people, and combine the current situation of their mining capital markets. To establish appropriate guidelines for mineral assets assessment, and to establish a communication mechanism and cooperation platform with mineral assets assessment as the core, and actively explore the organic link between mining assets assessment criteria and ordinary assets evaluation criteria, In order to improve the integration of mineral assets assessment into the operation of modern capital market, and to provide more development space for the application of mineral assets assessment, the paper draws lessons from the experience of mining assets assessment application in foreign mining capital markets. The paper puts forward the countermeasures and suggestions for perfecting and perfecting the evaluation of mining assets in China, including: making measures to open the mining capital market, promoting the integration with the international mining capital market, improving the investment environment of the domestic mining capital market, and improving the investment environment of the domestic mining capital market. To form a diversified investment structure, to develop a multi-level trading system, to strengthen the construction of a service system for mining capital markets, to strengthen the popularization and education of investors' theoretical knowledge of mineral assets assessment, Give full play to the role of investors and market participants, etc., in view of the existing mining assets evaluation methods, the paper puts forward specific improvement schemes, including: the selection principle of improved evaluation methods, the appropriate relaxation of the evaluation approach distinction, On the basis of following the principle of mineral assets evaluation, we should strengthen the theoretical research and practice of mixed evaluation method, adjust the applicable scope of comparable transaction law and cash flow discount method, and ensure its scientific rationality. The differences and similarities between the concepts of "technical value" and "market value" are clearly distinguished, and the two concepts are adjusted and transformed by the method of discount premium.
【學位授予單位】：中國地質大學(北京)
【學位級別】：博士
【學位授予年份】：2016
【分類號】：F832.51;F426.1

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