本文關(guān)鍵詞： 企業(yè)價(jià)值評(píng)估 環(huán)保企業(yè) EVA模型 FCFF模型 相對(duì)價(jià)值評(píng)估模型　出處：《深圳大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：伴隨世界資本市場(chǎng)地逐漸發(fā)展,企業(yè)價(jià)值評(píng)估變成了經(jīng)濟(jì)學(xué)者以及經(jīng)濟(jì)專家共同關(guān)心的焦點(diǎn)。不管是對(duì)于投資方還是監(jiān)管方來(lái)說(shuō),全面理解企業(yè)價(jià)值,掌握企業(yè)價(jià)值的內(nèi)涵,明確企業(yè)價(jià)值的重要影響因素與增加企業(yè)價(jià)值的途徑,都是相當(dāng)重要的。伴隨世界資本市場(chǎng)地逐漸發(fā)展,投資者隨意投資的現(xiàn)象減少,都是深入地經(jīng)由了解企業(yè)的發(fā)展戰(zhàn)略、核心競(jìng)爭(zhēng)力、經(jīng)營(yíng)與財(cái)務(wù)狀況等而明確企業(yè)價(jià)值,以此進(jìn)行相關(guān)的決策。除此之外,最近幾年環(huán)保企業(yè)并購(gòu)數(shù)量大幅增加,企業(yè)價(jià)值評(píng)估也隨之變得越來(lái)越重要。最近幾年環(huán)保企業(yè)并購(gòu)數(shù)量大幅增加,環(huán)保股也變成備受股票市場(chǎng)里投資方關(guān)注的重要對(duì)象。不管是環(huán)保行業(yè)領(lǐng)域中并購(gòu)情況的發(fā)生,還是一般的投資方在股票市場(chǎng)里對(duì)環(huán)保股的關(guān)注,都必須把對(duì)環(huán)保企業(yè)的估值作為起點(diǎn)進(jìn)行考量。所以,對(duì)環(huán)保行業(yè)中的目標(biāo)企業(yè)進(jìn)行價(jià)值評(píng)估也變成了現(xiàn)在學(xué)界和股票市場(chǎng)投資方關(guān)心與看重的問(wèn)題。碧水源作為我國(guó)環(huán)保領(lǐng)域中的領(lǐng)先企業(yè),它的企業(yè)價(jià)值也因此備受眾多投資方的密切關(guān)心。在這樣的背景下,此篇論文的目的在于研究碧水源的企業(yè)價(jià)值,綜合使用多種估值方法對(duì)碧水源進(jìn)行企業(yè)價(jià)值的評(píng)估,由此為眾多的投資方提供些許的建議與參照。在中國(guó)的環(huán)保領(lǐng)域中,現(xiàn)在還不具有比較系統(tǒng)與完整的企業(yè)價(jià)值評(píng)估方法,特別是缺少明確的案例研究。此篇論文把企業(yè)價(jià)值評(píng)估的具體案例研究作為出發(fā)點(diǎn),在匯總國(guó)內(nèi)外相關(guān)文獻(xiàn)的基礎(chǔ)之上,采取案例研究的方式,將以前年度學(xué)者們探索的企業(yè)價(jià)值評(píng)估原理與方法具體應(yīng)用在中國(guó)環(huán)保領(lǐng)域中上市企業(yè)的價(jià)值評(píng)估之上,并與業(yè)績(jī)?cè)u(píng)價(jià)相聯(lián)系,進(jìn)一步研究在實(shí)際應(yīng)用時(shí)會(huì)出現(xiàn)與面臨的問(wèn)題。從一個(gè)角度來(lái)看,能夠促進(jìn)企業(yè)價(jià)值評(píng)估原理在中國(guó)的企業(yè),特別是環(huán)保領(lǐng)域上市企業(yè)里的推廣與使用;從另一個(gè)角度來(lái)看,為解決存在的一些具體問(wèn)題與今后的發(fā)展方向與趨勢(shì)提出解決辦法與意見,希望可以為中國(guó)企業(yè)價(jià)值評(píng)估原理的深入更新與發(fā)展提供借鑒與參照,為環(huán)保領(lǐng)域中上市企業(yè)的價(jià)值評(píng)估法系統(tǒng)的構(gòu)建提供參考依據(jù)。
[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.
【學(xué)位授予單位】：深圳大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F275;X324

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