碧水源企业价值评估案例分析

发布时间：2018-01-19 14:10

本文关键词： 企业价值评估环保企业 EVA模型 FCFF模型相对价值评估模型　出处：《深圳大学》2017年硕士论文　论文类型：学位论文

【摘要】：伴随世界资本市场地逐渐发展,企业价值评估变成了经济学者以及经济专家共同关心的焦点。不管是对于投资方还是监管方来说,全面理解企业价值,掌握企业价值的内涵,明确企业价值的重要影响因素与增加企业价值的途径,都是相当重要的。伴随世界资本市场地逐渐发展,投资者随意投资的现象减少,都是深入地经由了解企业的发展战略、核心竞争力、经营与财务状况等而明确企业价值,以此进行相关的决策。除此之外,最近几年环保企业并购数量大幅增加,企业价值评估也随之变得越来越重要。最近几年环保企业并购数量大幅增加,环保股也变成备受股票市场里投资方关注的重要对象。不管是环保行业领域中并购情况的发生,还是一般的投资方在股票市场里对环保股的关注,都必须把对环保企业的估值作为起点进行考量。所以,对环保行业中的目标企业进行价值评估也变成了现在学界和股票市场投资方关心与看重的问题。碧水源作为我国环保领域中的领先企业,它的企业价值也因此备受众多投资方的密切关心。在这样的背景下,此篇论文的目的在于研究碧水源的企业价值,综合使用多种估值方法对碧水源进行企业价值的评估,由此为众多的投资方提供些许的建议与参照。在中国的环保领域中,现在还不具有比较系统与完整的企业价值评估方法,特别是缺少明确的案例研究。此篇论文把企业价值评估的具体案例研究作为出发点,在汇总国内外相关文献的基础之上,采取案例研究的方式,将以前年度学者们探索的企业价值评估原理与方法具体应用在中国环保领域中上市企业的价值评估之上,并与业绩评价相联系,进一步研究在实际应用时会出现与面临的问题。从一个角度来看,能够促进企业价值评估原理在中国的企业,特别是环保领域上市企业里的推广与使用;从另一个角度来看,为解决存在的一些具体问题与今后的发展方向与趋势提出解决办法与意见,希望可以为中国企业价值评估原理的深入更新与发展提供借鉴与参照,为环保领域中上市企业的价值评估法系统的构建提供参考依据。
[Abstract]:With the gradual development of the world capital market, enterprise value evaluation has become the focus of common concern of economists and economic experts. Whether for investors or regulators, comprehensive understanding of enterprise value. It is very important to grasp the connotation of enterprise value, to clarify the important factors of enterprise value and the way to increase enterprise value. With the gradual development of the world capital market, the phenomenon of investors investing at will is reduced. All are through in-depth understanding of the enterprise's development strategy, core competitiveness, management and financial situation and so on to determine the value of the enterprise, so as to make relevant decisions. In recent years, the number of mergers and acquisitions of environmental enterprises has increased significantly, and the evaluation of enterprise value has become more and more important. In recent years, the number of mergers and acquisitions of environmental enterprises has increased significantly. Environmental stocks have also become an important concern of investors in the stock market, whether it is the occurrence of mergers and acquisitions in the field of environmental protection industry, or the general investors in the stock market to focus on environmental protection stocks. Must consider the valuation of environmental companies as a starting point. The value evaluation of the target enterprises in the environmental protection industry has also become an issue of concern and importance to the scholars and investors in the stock market. As a leading enterprise in the field of environmental protection in China, Bishui is a leading enterprise in the field of environmental protection. Therefore, its enterprise value is closely concerned by many investors. In this context, the purpose of this paper is to study the corporate value of water resource. Comprehensive use of a variety of valuation methods to assess the corporate value of water, thus providing a number of investors with some advice and reference, in the field of environmental protection in China. At present, there is no systematic and complete enterprise value evaluation method, especially the lack of a clear case study. This paper takes the specific case study of enterprise value assessment as the starting point. On the basis of summarizing the relevant literature at home and abroad, this paper adopts the method of case study. The principles and methods of enterprise value evaluation which were explored by scholars in the past year are applied specifically to the valuation of listed enterprises in the field of environmental protection in China, and are related to the evaluation of performance. From a point of view, it can promote the promotion and use of the principle of enterprise value evaluation in Chinese enterprises, especially in the field of environmental protection. From another point of view, to solve some of the specific problems and future development direction and trend of solutions and suggestions. It is hoped that it can provide reference and reference for the further updating and development of the value evaluation principle of Chinese enterprises, and provide reference basis for the construction of the value evaluation system of listed enterprises in the field of environmental protection.
【学位授予单位】：深圳大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;X324

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