企业价值评估方法在XX房地产公司合并中的应用研究.pdfVIP

由于在实际操作中，使用市场比较法更为简便易懂、企业有高估 资产的动机存在以及收益法的参数选择更为主观性，导致收益法在商 业地产评估中的地位日益弱化，这也是导致如今房地产市场不合理增 长的原因之一，因此重新扶持收益法在房地产评估中的重要地位显得 相当迫切，建议相关部门将目前散落的、割裂的房地产交易信息重新 整合并共享给房地产评估行业，使信息在房地产评估行业内部以及房 地产评估行业与政府部门互通有无、形成相互监督的局面，这样不但 能确保评估机构承担独立第三方的责任，还能便于政府部门政策的制 定，最终确保房地产市场健康、可持续的发展。 关键词：企业价值评估，房地产价值评估，企业合并，收益法， 市场比较法 万方数据 ENTERPRISE VALUATION RESEARCH ON ACQUISITION OF A CERTAIN REAL ESTATE COMPANY ABSTRACT A key point in acquisition is how to assess the assets of the acquired company, especially in real estate company, which the complication and difficulty of assets valuation is far beyond other companies. Based on the valuation approach of general enterprise, this paper further analyzes the applicability of these three classical approaches in real estate appraisal. The specific approach could have been changed as different building nature or appraisal purpose. This paper is trying to focus on commercial real estate appraisal in acquisition, so the income capitalization approach and direct comparison approach is more emphasized. It is noticed that the direct comparison approach is much more popular. With the case study, it is further found that the result of the income capitalization approach is much lower than of the direct comparison approach under the same building appraisal. Thus, one of the thesis is proposed that the income capitalization approach intends to dig the intrinsic value of real estate while the direct comparison approach intends to reveal the acceptable price in marke