基于会计信息的企业内在价值评估方法——Faltham-Ohlson估价模型的拓展分析

传统的企业内在价值评估模型忽略了大量有价值的会计信息,如何将丰富的会计信息恰当地运用于企业估价便成为证券市场中会计研究的焦点,Faltham-Ohlson估价模型的提出解决了这一难题。本文将源于杜邦体系的比率分解思想引入到该模型进行拓展分析,揭示出财务报表中存在的会计数据与企业价值的确定之间的关系,旨在为建立一个基于更多会计信息的企业内在价值评估模型进行尝试性的探讨。

Valuation Method of Corporation Intrinsic Value Based on Accounting Information The Analysis of Faltham-Ohlson Valuation Model

Accounting information is neglected in traditional valuation models of corporation intrinsic value. How to use abundant account ing information appropriately in valuation becomes the focus of accounting research. This paper expands the valuation model with ratio analysis idea drew from the DuPond System, and reveals the relationship between financial data in existing financial reports and intrinsic value , trying to deduce a valuation model based on more accounting information.