企业估值

我国私募股权投资市场的发展及其中企业估值问题探析

China 's Private Equity Market and Its Company Valuation

国际通行的企业估值方法有很多，自由现金流、股权现金流量折现法、EVA价值评估方法在国外公司估值实践中的已经很成熟，而在我国的实际应用还在有待提高。

International practices of the firm estimate of value method has a lot of freedom , cash flows turn now , eva value of the assessment method is in a foreign firm estimate of value in practice has been relatively mature , and in the application has been developed .

实物期权理论在高校科技企业估值中的应用研究

Application of Real Option Theory on University Technology Enterprise Evaluation

高校科技企业估值的实物期权方法研究

The Real Option Research on University 's Technology Company Evaluation

如果希望购买，老练的私有市场买家自己是如何进行企业估值的呢？

How do sophisticated private-market buyers themselves evaluate businesses for possible purchase ?

第一部分，高科技企业估值的理论与方法研究。

The research on the evaluating approaches and theories for hi-tech business .

此外，目前的企业估值也更为合理，使一些交易更具吸引力。

Valuations are also more reasonable , and that makes some deals more attractive .

基于连续时间实物期权模型的高科技企业估值研究

Research on the Valuation of High-tech Enterprises by Real Option Theory on Continuous-time Model

几十年前，人们用股价与税后利润的比（即市盈率）来对企业估值。

Decades ago , shares were valued on a multiple of post-tax earnings a P / E ratio .

目前被评估界所广泛接受的企业估值方法主要有三种：收益法、市场法和成本法。

Currently , there are three basic valuation methods : the income method , market method and assets method .

金价的乐观预期、低成本和资源扩张的预期，提升了国内企业估值水平。

Gold optimistic expectations , the expected expansion of low cost and resources to enhance the domestic business valuation .

资产定价是金融学中的三大核心问题之一，而企业估值就是对企业这种资产进行定价。

Asset pricing is one of the three core researchs in finance , and business valuation is pricing the assets of enterprises .

存在科技泡沫这种论调确实很吸引眼球，但如果我们把眼光放到科技新创企业估值飙升之外，就会发现这种说法根本没道理。

All of this bubble-mongering encourages headlines , but it makes little sense if we look beyond the run-up in valuations of Tech startups .

也就是说，女性企业家的公司要比男性企业家的公司成长更为迅速，但是她们的员工数量一般不到100人，企业估值也大多在100万美元以内。

That is , women-owned firms have higher growth rates than male-owned firms , but only up to the 100-employee and $ 1 million mark .

投资银行家的乐观态度与一些分析师的看法形成了对比。后者认为，中国企业估值的不断上升不可持续。

The bullishness of investment bankers contrasts with the mood of some analysts , who believe that the ever-rising valuations for Chinese companies are unsustainable .

本文首先介绍传统的企业估值方法，如资产负债表估值法、损益表估值法、基于商誉的估值法、现金流量估值法、价值创造法等。

This dissertation first introduces traditional enterprise valuation methods , such as methods based-on balance sheet or earnings statement or invisible assets and discounting net cash flow .

对于投资的成功而言，了解如何进行企业估值是必要的，投资流程中第一步，可能是最重要的一步是懂得哪里去寻找机会。

While knowing how to value businesses is essential for investment success , the first and perhaps most important step in the investment process is knowing where to look for opportunities .

苹果对滴滴的投资让这家中国企业估值达到250亿美元，这也是苹果首次公开宣布投资一家运输公司，凸显苹果正寻求从硬件拓展进入服务。

Apple 's investment in Didi , its first publicly disclosed funding of a transportation company , which valued the Chinese group at $ 25bn , underscores how the company is looking beyond hardware and toward services .

结合高校科技企业估值中所具有的期权特性和高校科技企业估值中存在的主要期权类型，提出了高校科技企业估值的实物期权方法分析框架并探讨了实物期权方法在高校科技企业估值中的应用。

Combining with the option characteristics of university technology enterprise evaluation , the article constructs a framework of real option evaluation method for university technology company and discusses the application of real option method on university technology enterprise evaluation .

本文分四个方面分析了公允价值应用对上市公司的影响，即对上市公司利润的影响，对上市公司资产质量的影响，对会计信息的影响和对企业估值的影响。

This paper points four aspects analyzes the fair value of the application of the listed companies influence . Namely on the listed company profit , the influence of asset quality of listed companies , the influence of the influence of accounting information and to enterprise valuation of the influence .

他们需要培育“零十亿美元公司”（zerobilliondollarcompanies）——具有真正的创新性、最终可能会取得“独角兽”企业规模估值的公司。

They need to cultivate " zero billion dollar companies " - radically innovative enterprises that could eventually command unicorn-sized valuations .

事实上，PE的无形资产对获得投资后的目标企业这个估值黑箱的成长影响很大，这是前人研究中没注意到的一个基础性问题，其根源来自中西方的文化差异。

In fact , the intangible assets of PE has great influence on the growth of the black box valuation . It is a fundamental problem that is not noticed in previous studies . The reason comes from cultural differences between China and the West .

WeWork已向中国投资机构融资4.3亿美元，这将帮助该公司向亚洲扩张。目前，这家办公空间租赁创业企业的估值达到160亿美元，高于埃隆•马斯克（ElonMusk）旗下的SpaceX，以及Pinterest。

WeWork has raised $ 430m from Chinese investors in a fundraising that values the office space start-up at $ 16bn and will help it expand into Asia .

腾讯（Tencent）向以青少年为目标用户的聊天应用Kik投资5000万美元，使这家加拿大初创企业的估值超过10亿美元。Kik的目标是成为“西方的微信（WeChat）”。

Tencent has invested $ 50m in Kik , the teen-focused chat app which aspires to be the ' WeChat of the west , " valuing the Canadian start-up at over $ 1bn .

股权分置改革背景下企业并购估值研究

Study on the Merging Enterprise 's Value Assessment under the Equity Share Split

风险企业债务估值未定权益分析的两个公式

Two Formulas of Debt Valuation About risky Enterprise with Contingent Claims Analysis and Comparison

企业并购估值贴现现金流模型研究

Research on the discounted cash flow models for valuation of corporation M & A

近几个月来，创业型科技企业的估值不断下降，无疑令作为其出资人的风险投资家感到郁闷。

Sagging valuations at upstart tech companies have undoubtedly frustrated their venture capital backers in recent months .

这也导致风险投资公司的资金出现半永久性过剩，并由此人为地推高了一些企业的估值。

This has led to a semi-permanent overhang for VCs , which has kept valuations artificially high .

当然，估值方法会是个问题，因为在营企业的估值方法与清算价值出现冲撞。

Certainly , valuation techniques will be an issue , as going-concern valuation techniques jostle with liquidation values .