企业价值评估八大核心方法(国外英文资料).doc

企业价值评估八大核心方法(国外英文资料) Reasonable assessment of the value of target enterprise is one of the important problems often encountered in mergers and acquisitions and foreign investment in the process of. The appropriate evaluation methods is a prerequisite for accurate assessment of the enterprise value. This paper will focus on core evaluation method of enterprise value, from the basic principle and method of the scope and limitations of other aspects of analysis and summary. A method of evaluation system of enterprise value Enterprise value assessment is a comprehensive evaluation of assets, rights and interests, is the enterprise specific purpose of overall value, the value of all shareholders equity or equity value analysis and estimation process. The current international evaluation method is mainly divided into income method, cost method and market method three categories. The income method will be evaluated by the enterprise or the discounted expected return of capital to a certain date to determine the evaluation object value. The theory is based on the principle of economics in the discount theory, namely the value of an asset is the use of it can get the present value of future earnings, the discount rate reflects the investment of the asset and profit risk rate of return. The main methods of income method including discounted cash flow method (DCF), the method of internal rate of return (IRR), CAPM model and EVA valuation method etc.. The cost method is based on the target enterprise balance sheet, through reasonable assessment of corporate assets and liabilities so as to determine the value of evaluation object value. The theory is based on the price paid any rational person of an asset will not be higher than the replacement or substitute the price to buy the same purpose. The main method for the replacement cost (cost plus method). Market method is the evaluation object and refer to the enterprise or in the market of existing trading case enterprises, shareh