家用电器上市公司整体价值评估研究

发布时间：2018-01-30 14:47

本文关键词： 企业价值评估家电行业收益法　出处：《华北电力大学》2015年硕士论文　论文类型：学位论文

【摘要】：在世界经济逐渐走向全球化、实现国际经济一体化的大背景下,国际间经济活动涉及的资产交易量大大提高,带动了资产的国际流动性。在我国企业改制的过程中,需要对资产的价值进行评定和估算。资产评估的范围不断扩大,涉及的领域逐渐增多,从不动产扩展到动产、无形资产和企业整体价值评估的领域。企业越来越关注自身整体价值的衡量,推进企业价值评估的发展。我国的家电行业作为在经济社会中迅速发展,积累了一定的资本,需要寻求扩张,需要对企业价值有一个评定和估量。但是目前我国家电行业的企业价值评估理论研究较少,难以指导评估实践的发展。文章首先从家电行业企业价值评估的基本概念和评估方法入手,对相应的文献进行整理和分析,明确目前针对企业价值评估方面的国内外研究现状,并提出我国目前存在的问题,提出具体的研究思路。然后针对国内的评估理论和评估方法进行分析,结合家电行业的发展特点和现状,提出使用收益法对其进行价值评估。再使用定性和定量相结合的分析方法,对评估过程中使用的具体模型和模型中所需的参数进行讨论,明确使用的标准及选取的范围,搜集青岛海尔集团的财务和非财务数据进行计算,利用Gordon两阶段增长模型得出青岛海尔集团的企业价值,计算出股票价值和市盈率,评估结果与市场价格相符合,具有合理性。从而得出收益法适用于家电行业企业价值评估的结论。
[Abstract]:Under the background of the globalization of the world economy and the realization of international economic integration, the trading volume of the assets involved in the international economic activities has greatly increased. Promote the international liquidity of assets. In the process of restructuring enterprises in our country, we need to evaluate and estimate the value of assets. From immovable property to movable property, intangible assets and the field of enterprise overall value evaluation, enterprises pay more and more attention to the measurement of their own overall value. Promote the development of enterprise value evaluation. As the rapid development of the household appliances industry in the economic society, accumulated a certain amount of capital, need to seek expansion. It is necessary to evaluate and evaluate the enterprise value. However, there is little research on the theory of enterprise value evaluation in the home appliance industry in our country at present. It is difficult to guide the development of evaluation practice. Firstly, this paper starts with the basic concept and evaluation method of enterprise value evaluation in household appliance industry, and analyzes the relevant literature. Make clear the current domestic and foreign research status of enterprise value evaluation, and put forward the existing problems in our country, put forward the specific research ideas, and then analyze the domestic evaluation theory and evaluation methods. Combined with the development characteristics and current situation of the household appliance industry, this paper puts forward the method of using income method to evaluate its value, and then combines qualitative and quantitative analysis method. The specific models used in the evaluation process and the required parameters in the model are discussed, the criteria used and the scope of selection are defined, and the financial and non-financial data of Qingdao Haier Group are collected for calculation. The enterprise value of Qingdao Haier Group is obtained by using the Gordon two-stage growth model, and the stock value and price-earnings ratio are calculated. The evaluation results are in accordance with the market price. It is reasonable to draw the conclusion that the income method is applicable to the enterprise value evaluation in the household appliance industry.
【学位授予单位】：华北电力大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F426.6

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