基于自由现金流量的企业价值评估方法的改进及其应用-财务管理专业论文.docxVIP

Abs仃actSince Abs仃act Since the China’S economic growth rapidly，the GDP of our country is now ranked second in the world．At the SalTle time，China’S capital market is also in constant development and improvement．Followed by the application of enterprise value assessment are increasingly frequent and increasingly wide range，such as the establishment of the company，enterprise restructuring，stock issuance and listing IPO，mergers，equity transfer，financing，litigation, bankruptcy and liquidation other aspects need to assess the fair value of the enterprise Scientific and objective assess the value of the enterprise，is not only a subject of special attention and academic theory,but also practice a difficult operation．At present，the academic and research community on the theory valuation carried out long-term research，theory and learn from the mature West，it has now formed a relatively complete theoretical system，and business valuation practice operating in our country has been wide range of applications．About the world of business valuation theory is the most advanced model of discounted free cash，while free cash flow is in practice the most widely used，most robust indicators．Therefore，the SEC requires all listed companies in which the company’s fmancial statements must disclose the target．In this paper，we research the theoretical basis of the company。S valuation and the actual operation，especially scientific and objective enterprise value assessed by the amount of free cash flow．This article describes specific types of business valuation as well as the advantages and disadvantages，obtained by comparison of free cash flow is the best model，and the value assessed by Bright Dairy and free cash flow model．T11iS article reads as follows： The first chapter is introduction which including research background，purpose and significance，review of researches on valuation of enterprises，research and innovation of this framework and this article．The second chapter research the relevant