基于DHGF综合集成算法的目标企业价值评估研究-资产评估专业论文.docxVIP

购、企业价值及目标企业价值进行了分析，综合考虑其战略价值和内在价值。然后就在 购、企业价值及目标企业价值进行了分析，综合考虑其战略价值和内在价值。然后就在 并购中进行目标企业价值评估的意义进行阐述，通过对现有评估方法即市场比较法、现 金流量折现法以及调整账面价值法进行逐一比较分析，指出各自存在的缺陷和不足，以 此作为引入DHGF算法的切入点；第三部分详述了DHGF算法的起源和适用范围，然 后对其在目标企业价值评估中的适用性进行分析，确定运用该方法进行价值评估的可行 性以及优势，然后对其评估程序进行了介绍：第四部分采用海信收购科龙的案例来进行 DHGF算法的模拟运用，在已经确定的价值区间选择更为准确的价值点，以便并购方明 确自己可以承受的并购价值底线，最后运用DHGF算法得到的科龙公司的评估价值，再 与海信并购科龙的真实收购价格进行比较，进而验证运用DHGF算法进行企业价值评估 的可靠性。 本文采用的研究方法主要是文献检索法、对比分析法、模拟法、定量分析法、系统 科学法，通过上网查询取证，查阅相关文献，系统分析评估对象，希望能够真实客观地 反映问题的本来面貌，并依此对DHGF算法在目标企业价值评估中应用的可行性与适用 性进行较为详尽地分析论证，希求通过本文的研究能对目标企业价值评估方法的完善作 出一点力所能及的贡献。 关键词：并购目标企业价值价值评估DHGF综合集成算法 lV 万方数据 AbstractRecently Abstract Recently our country enterprises merger and acquisition activities are becoming more and more frequent．And the year of 20 1 5 set a new record in the amount of our country enterprises’merger and acquisition activities．According to the Securities Daily news，our quoted companies’overseas acquisitions arrive a total of 1 82 cases，including four deals’total dimension more than 1 0 billion yuan；And Thomson Reuters news shows that the total amount of mergers and acquisitions in China are as much as$568．8 billion，and the Chinese MA“Hormone Index”soared．In the called for state-owned enterprises reform and enterprise restructuring，merger integration between our country enterprises will affirmatively become the new trend of 201 6．MA takes the transaction of property right as a mean to realize the resource optimization and the restructuring of contr01．Its’main purpose is to seek more say in the international and domestic market．Enterprise’S acquisition are from the good expect of the value of target enterprise，but error evaluation will result in failure of acquisition，the loss of acquisition enterprise assets and be harmful to the sustainable and good development of the enterprise．Especially in the current reform of state·owned enterprises，resolving the excess capacity,the merger and acquisition of state-owned enterprises in OUr country,private enterprises’err