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收益法评估在企业并购中的应用——以中国财险并购华夏银行为例


类型:案例|10000字, 类别:原创|RMB450, 附件:开题报告|文献综述

【摘要】

收益法评估在企业并购中的应用——以中国财险并购华夏银行为例企业并购对如今的上市公司而言,是扩展其资本的一种十分有效的方式,其中股权并购是主要方法。对参与并购的双方而言,如何通过合理程序定出双方都能接受的合理价格,显得至关重要。由此,被并购企业的合理资产评估成为一项并购活动中的关注焦点。本文阐述了企业并购及资产评估方法的基本理论,利用获取的一手资料及图书文献资源,基于华夏银行的财务报表,运用收益法评估的相关模型,调节华夏银行财务报表,预测其未来现金流量,确定收益期限,估算对应折现率,得出了华夏银行的股权价值。进而分析其股权价值结果,提出收益法在股权价值评估中的应用推广,以期对企业并购活动提供借鉴。
关键词:收益法;企业价值评估;股权收购
Application of Income Approach Evaluation in Mergers and Acquisitions
——The Case Study of China Property Insurance Merger and Acquisition of Hua Xia Bank
 
Abstract: Mergers and acquisitions , a very effective way to expand its capital, of today's listed companies,which is the main method of equity merger. Both sides involved in mergers and acquisitions, through reasonable procedures for setting reasonable price, acceptable to both sides is crucial. Therefore, reasonable evaluation of enterprise mergers and acquisitions of assets become the focus of attention a merger and acquisition activities. This paper expounds the basic theory and evaluation method of mergers and acquisitions of assets of enterprises, used to obtain first-hand information and library resources, Hua Xia Bank financial statements based on the correlation model of the income approach assessment, regulation of Hua Xia Bank financial statements, forecast the future cash flow. Fixed income limit, estimate the corresponding discount rate, the Hua Xia Bank's equity value. Then analyzes its equity value results, proposed application of income approach in equity valuation, in order for MampA to provide reference.
Key words: Income method ;Enterprise value evaluation; Equity purchase

 

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