企商誉评估中超额收益法的研究.doc

PAGE PAGE 1 企业商誉评估中超额收益法的研究 中文摘要：商誉作为企业的无形资产，代表了企业的信誉，企业在市场经济中竞争力的综合反映，在市场竞争中越来越显现出重要作用，其价值甚至要远远超过企业有形资产的价值。有形资产像一个人的躯体，无形资产则似一个人的知识和技能。在无形资产评估实践上，重有形轻无形，商誉观念淡薄。尤其表现在中外合资企业合资过程中，中方往往只把有形资产折价入股，而对商誉等只作低价或不计价处理，造成国有资产流失。商誉作为企业重要的资产，它虽然是一项看不见的无形资源，却是对企业的现实收益与未来发展均产生重要影响的有形资源。商誉在企业生存和发展中的地位与日俱增，因此，对商誉评估问题受到了理论界和实务界的普遍关注。 商誉，是企业拥有或控制却无法具体辨认的，能够对企业获得社会必要收益能力产生影响的诸要素综合的资本化价值。它具有不可辨认、不能独立存在、不能单独出售、转让、不能作为一项独立的资产投资等特征。那么当产生商誉时，如何科学、公正、合理、客观地反应商誊的价值，如何公正，有效的评估商誉，是目前仍需探索的问题。商誉虽是一种无形资产，但从经济学的角度，商誉是可以计价和评估的，对商誉评估的超额收益法进行研究和探讨，是目前具有高适用性的商誉评估法。本文针对我国商誉的现状，对商誉评估理论和超额收益法在企业商誉评估中的应用及这种方法存在的问题和对策进行了系统的研究和分析。 关键词：商誉 商誉评估 超额收益法 Abstract:Goodwill, intangible assets as a business, on behalf of the enterprises reputation and business competitiveness in a market economy a comprehensive reflection of the increasing competition in the market, showing an important role, and its value far more than even the value of tangible assets of enterprises. Tangible assets, like a persons body, intangible assets are like a persons knowledge and skills. Practice in the evaluation of intangible assets, re-light the invisible visible, the concept of goodwill weak. Especially in the course of Sino-foreign joint venture enterprises, the Chinese tend to discount shares only the tangible assets, while goodwill is not only for low-cost or pricing treatment, resulting in loss of state assets. Important asset of goodwill as a business, although it is an invisible and intangible resources, but it is the reality of the enterprise income and have an important impact on the future development of physical resources. Survival and development reputation in the enterprises position in the growing, therefore, assessment of goodwill by the theory and practice communitys attention. Goodwill is owned or controlled but can not specifically identifiable, that is necessary for enterprises to obtain social benefits affect the ability of the various elements of a comprehensive capital value. It has