本文關(guān)鍵詞：新三板閩保股份價(jià)值評(píng)估案例研究　出處：《廣東財(cái)經(jīng)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： EVA 新三板 價(jià)值評(píng)估

【摘要】：近年來,在政策扶持和助推下,新三板市場(chǎng)的發(fā)展用日新月異來形容一點(diǎn)都不為過。無論是企業(yè)質(zhì)量還是市場(chǎng)規(guī)模都不斷攀升。由于新三板企業(yè)掛牌的門檻相對(duì)較低、上市時(shí)間短、股票流動(dòng)性差等缺點(diǎn),致使傳統(tǒng)的相對(duì)估值法準(zhǔn)確性不足,投資者也將面臨更多的投資風(fēng)險(xiǎn)。本文對(duì)新三板的發(fā)展進(jìn)程、新三板企業(yè)掛牌情況進(jìn)行了概述,通過對(duì)企業(yè)價(jià)值評(píng)估方法的歸納和總結(jié),結(jié)合實(shí)際情況選定經(jīng)濟(jì)附加值法作為本文研究的理論基礎(chǔ)。最后,基于EVA構(gòu)建估值模型并對(duì)參數(shù)進(jìn)行說明。為提高研究方法的可靠性,在確保歷史數(shù)據(jù)充足的前提下,較為隨性的選擇了閩保股份為實(shí)例研究對(duì)象,運(yùn)用估值模型對(duì)企業(yè)合理估值,對(duì)該公司的經(jīng)營情況、財(cái)務(wù)數(shù)據(jù)以及掛牌上市后的股價(jià)變動(dòng)情況進(jìn)行跟蹤比較,從而判斷該方法的有效性。在文章最后,筆者根據(jù)EVA模型的計(jì)算和預(yù)測(cè)結(jié)果,對(duì)該估值方法在使用過程中遇到的問題進(jìn)行總結(jié),站在投資者角度給出估值方法運(yùn)用的建議。文章主要運(yùn)用的研究方法有文獻(xiàn)分析法、案例分析法、定量分析法、情景分析法等。本文的創(chuàng)新之處在于,筆者站在一個(gè)普通投資者角度,面對(duì)一個(gè)全新的投資領(lǐng)域迎難而上,通過理論知識(shí)的深度比較,構(gòu)建符合實(shí)際又易于理解的模型,財(cái)務(wù)數(shù)據(jù)公開充分的條件下盡量大眾化的案例選取,都是力求最終研究成果的適用性和實(shí)用性。
[Abstract]:In recent years, under the policy support and boost. The development of the new third board market can not be described with rapid changes. Whether the quality of the enterprise or the market scale are rising. Due to the relatively low threshold of listing of the new third board enterprises, the listing time is short. Stock liquidity is poor, resulting in the traditional relative valuation method is not accurate enough, investors will also face more investment risks. This paper summarizes the development process of the new third board and the listing of the new third board enterprises. Through the induction and summary of the enterprise value evaluation method, combined with the actual situation, the economic added value method is selected as the theoretical basis of this paper. Finally. In order to improve the reliability of the research method, in order to improve the reliability of the research method, we chose the Minbao shares as an example research object randomly under the premise of ensuring sufficient historical data. This paper uses the valuation model to evaluate the enterprise reasonably, tracks and compares the company's operating situation, financial data and stock price changes after listing, so as to judge the effectiveness of the method. At the end of the article. According to the calculation and prediction results of EVA model, the author summarizes the problems encountered in the use of the method. From the point of view of investors, this paper gives some suggestions on how to use the valuation method. The main research methods used in this paper are literature analysis, case analysis, quantitative analysis, scenario analysis and so on. The innovation of this paper is that. I stand in the perspective of an ordinary investor, facing a new investment field to face the difficulties, through the depth of theoretical knowledge comparison, to build a practical and easy to understand the model. Under the condition of full disclosure of financial data, the selection of popular cases is to strive for the applicability and practicability of the final research results.
【學(xué)位授予單位】：廣東財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F275;F49;F832.51

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