基于自由现金流折现法的伊利集团公司价值评估分析

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1、万方数据江苏大学硕士学位论文ABSTRACTHowtoestimatethetrueintrinsicvalueoflistedcompaniesisnotonlytheimportanttopicoftheacademicresearch，butalsothequestionofthemassesofinvestors．Themelamineincidentin2007tothecountry’Sinfluenceisverylarge．Intheturmoilofthedomesticdairyindustryhas

2、acceleratedtheindustrialupgradingandmarketresourcesintegrating．Althoughthegovernmenthasnotofficiallyissuedaboutmergersandacquisitionsintheindustryschemeandfile，butthisdoesnothinderthepaceofindustrymergersandacquisitions．Notonlythat，thegovernmentissued”separatetwo

3、foetuses”policywillbenefitthedomesticmilkpowdermarket．Therefore，underthesecircumstances，itisofgreatsignificancetoassessandexaminecompanyvalueinanappropriateway．Atpresenttherearemanywaystoevaluatethevalueofthecompany,butthediscountedfreecashflowmethodisthebestone．

4、InreviewofthestatusquooftheassessmentofcorporatevalueinChina，althoughintheory,thereisrelativelymoreresearchadoptingthemethodofdiscountedfreecashflowtoassesscorporatevalue，inpractice，thecasesthatinvolveinthesaidcorporateassessmentareless，andmostwhichassessbythetra

5、ditionalfreecashflowmodel．Traditionalmodelhassomeflaws，whichmayinfluencethecorrectnessofactualassessment，callingforsome。⋯modification．ThispaperadoptsthediscountedfreecashflowmodeltoassessthevalueofYiliGroup，amendstheflawsinthediscountrateoftraditionalmodelandprov

6、estheoperabilityandscientiflcalnessoftheamendedmodelbycases．Finally,thispaper,basedonthediscountingmodelitself,makesseveralsuggestionsfortheenhancementofYili’Svalue．First，abriefstatementofresearchbackground，currentresearchandresearchmethodsofthispaper．Then，Byanal

7、yseandcontrastthemethodsofvalueassessment，pointoutthelimitationinactualuseofdiscountedfreecashflowmethodandcomeupwithanideaforimproving．Inatypicalcasestudy,combinedwiththeIII万方数据基于自由现金流折现法的伊利集团公司价值评估研究developmentstatusoftheYiliIndustrialGroupCo．，Ltd．，economicthat

8、chedcottageSWOTanalysis，financialanalysisandriskanalysis，acomprehensiveunderstandingofthestatusquoofitsdevelopment．Atlast，onthebasisofstatusanalysis，usetheimpr