收益法及其在企业价值评估中的相关问题研究

收益法有关的数量模型在理财、金融投资等领域的理论与实践都已被认为是一种既比较科学又具有较强的可操作性的计量模型。但是,在评估理论与实践中,它仍有不少问题需要进一步探讨。本文就收益法的产生、发展及其计量基本模型,收益法与现金流折现法的关系,收益法在企业价值评估中存在的有关问题等进行了探讨。本文在参考有关资本价值模型思路相关文献的基础上,以企业价值分别是由投资和取得收益所构成的基本假设下推导出一种新的计量表达式,试图弥补之前收益法的计量表达式对收益期有限的评估不能计算其期末资产余值的不足。

A Study on Income Approach and its Application in Business Valuation

Mathemathics modules based on income approach and its application in corporate finance,financial investment are well- known scientific and applicable econometrics models.However,in appraisal theory and application,these modules need further study.This paper discusses the emergence,development of the income approach,the relationship between the income approach and DCF,the application of the income approach in business valuation,etc.Based on the ideas in the associated reference,the author of this paper devel...