ST公司价值评估方法研究

发布时间：2018-01-16 00:31

本文关键词：ST公司价值评估方法研究　出处：《首都经济贸易大学》2013年硕士论文　论文类型：学位论文

【摘要】：1998年4月22日,沪深交易所宣布将对财务状况或其它状况出现异常的上市公司股票交易进行特别处理,即在简称前冠以“ST”,因此这类股票称为ST股。盯公司本身的财务状况有特殊性,尤其在中国的资本市场并不十分成熟的情况下,对ST公司的并购重组中合理使用评估方法提出了非常高的要求。ST公司的置入置出资产应分别选用什么样的评估方法进行估值,ST公司所处的行业、交易类型会在何种程度影响ST公司的价值,最终评估结果的运用和交易定价关联度有多高,什么因素影响了评估增值率,收益法参数选择是否规范等都会在本文中得到阐述。论文共分为六章,第一章介绍本文的研究背景,阐述论文的研究意义和目的并提出本文的研究方法以及创新点。第二章着重介绍关于ST公司价值评估的三种理论方法。第三章和第四章运用描述性分析了ST公司并购重组中选用方法,评估增值率,两种方法的差异率和方法中参数的选择问题。第五章结合样本分析了ST公司并购重组中存在的问题。第六章针对问题提出ST公司评估的建议,得出了结论,并指出了论文的不足之处。
[Abstract]:On April 22nd 1998, the Shanghai and Shenzhen Stock Exchange announced that it would deal with the stock trading of listed companies with abnormal financial or other conditions, that is, "St" before the acronym. Therefore, this kind of stock is called St stock. The financial situation of the company is special, especially if the capital market of China is not very mature. The reasonable use of evaluation methods in the M & A of St companies put forward a very high requirement. What kind of evaluation methods should be used to evaluate St companies in the St companies? What kind of transaction type will affect the value of St companies, the final evaluation of the use of the results and transaction pricing correlation degree is high, what factors affect the evaluation value added rate. Whether the parameter selection of income method is standard or not will be discussed in this paper. The thesis is divided into six chapters. The first chapter introduces the research background of this paper. The significance and purpose of this paper are expounded, and the research methods and innovations of this paper are put forward. Chapter two focuses on three theoretical methods of St company value evaluation. Chapter 3 and 4th analyze St by descriptive analysis. Selection of methods in corporate mergers and acquisitions. Chapter 5th analyzes the problems existing in St company M & A in combination with the sample. Chapter 6th puts forward the recommendations of St company evaluation in view of the problem. The conclusion is drawn and the inadequacies of the thesis are pointed out.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F832.51

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