科研管理

科研管理 ›› 2006, Vol. 27 ›› Issue (2): 140-144.

• 论文 • 上一篇    下一篇

我国企业财务决策中价值评估模型选择

肖明, 胡志颖   

  1. 北京科技大学管理学院,北京 100083
  • 收稿日期:2005-02-19 出版日期:2006-03-24 发布日期:2011-05-16
  • 作者简介:肖明(1963.10－),男(蒙古族),内蒙古通辽人,北京科技大学管理学院财务与会计系教授、系主任,在职博士研究生,研究方向:公司财务与会计理论。
    胡志颖(1977.9－),女(汉),福建仙游人,北京科技大学管理学院讲师,博士,研究方向:公司财务与会计理论。

The choice of corporate valuation models in corporate financial decision-making in China

Xiao Ming, Hu Zhi-Ying   

  1. University of Science and Technology Beijing, Beijing 100083, China
  • Received:2005-02-19 Online:2006-03-24 Published:2011-05-16

PDF

2577

摘要： 本文以财务决策中的价值极大化原则为出发点,结合我国的现实情况,探讨了在我国目前的财务决策环境下价值评估模型的选择,认为自由现金流贴现模型是最现实、最合适的选择,并在此基础上,对自由现金流贴现模型应用中存在的三个基本问题进行了分析。

关键词: 财务决策, 价值评估, 自由现金流贴现模型, 剩余收益模型

Abstract: This paper starts with maximization of value as the judgment principle in financial decisions, and discusses the choice of corporate valuation models under the present background of financial decision-making in China. It is found that the discounted cash flow approach is the most realistic and applicable choice for present in China. Based on the discussion above, the paper analyzes the three problems met with in the application of discounted cash flow approach.

Key words: financial decision, corporate valuation, discounted cash flow approach, residual income valuation

中图分类号: