| 基于企业生命周期的高新技术企业价值评估方法研究 |
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| 引用本文： | 冯媛媛.基于企业生命周期的高新技术企业价值评估方法研究[J].技术与创新管理,2014,35(5):537-541. |
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| 作者姓名： | 冯媛媛 |
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| 作者单位： | 上海理工大学管理学院,上海,200093 |
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| 摘 要： | 随着社会的高速发展,高新技术企业的IPO定价、增资扩股以及企业之间的价值投资、并购等经济活动日益频繁,对企业价值评估的需求也越来越大。不同生命周期阶段的企业价值驱动因素不同,使得企业价值与企业的生命周期息息相关。高新技术企业的生命周期较为明显,为了使其价值评估的结果更加准确,根据其所处的生命周期阶段选择相应的评估方法具有重要的研究价值。通过对高新技术企业不同生命周期阶段的特征进行分析,运用层次分析法和模糊综合评价法给出不同生命周期阶段的划分方法,并针对不同的生命周期阶段研究合适的价值评估方法,为如何界定高新技术企业所处的生命周期阶段以及更加合理准确的评估高新技术企业的价值提供了依据。
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| 关 键 词： | 企业价值 生命周期 层次分析法 模糊综合评价法 |
Research on High-tech Enterprise Valuation Method Based on Enterprise Life Cycle |
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| FENG Yuan-yuan.Research on High-tech Enterprise Valuation Method Based on Enterprise Life Cycle[J].Technology and Innovation Management,2014,35(5):537-541. |
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| Authors: | FENG Yuan-yuan |
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| Institution: | FENG Yuan-yuan ( School of Management, University of Shanghai for Science and Technology, Shanghai 200093, China) |
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| Abstract: | With the rapid development of society, high-tech enterprises＇ IPO pricing, Capital Increase, Value Investing, mer- gers ＆ acquisitions and other economic activities have become increasingly frequent,thus the demand for value assessment is also growing. The Value drivers are different in the enterprises＇ different stages of the life cycle, making the enterprise value closely related to its life cycle. High-tech enterprise＇ life cycle is obvious. In order to make the evaluation results more accurate, taking its life cycle stages into consideration has important research value. Through the analysis of the high-tech enterprises＇ characteristics in different stages of the life cycle, AHP and fuzzy comprehensive evaluation method are used to divide its life cycle, and different valuation methods are given based on the different stages of the life cycle, which helps to make more accurate valuation results. |
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| Keywords: | enterprise value life cycle AHP fuzzy comprehensive evaluation method |
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