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1、LiteratureReviewfortheTheoryofBusinessValuemeasurementABSTRACTBusinessvaluemeasurementdependsonexpectationsforthefutureearnings,therearemanywaystoassessearnings,andthemainlymethodsareDCFmethod,ResidualIncomevaluationtheory,EconomicValueAddedvaluationmethodandRealOptionsValuationmethod.Thisarticleb
2、asesonthedevelopmentofdomesticandforeignbusinessvaluetheory,andgivesabriefsummaryofthelatestresearch,thencomparesthedifferentvaluationtheoryathomeandabroad.Finally,combiningwithpracticalfeaturesofChineseenterprisevalueassessmentconcludedthatassessmentsofthelatesttheoriesinChineseenterprises.KEYWOR
3、DS:BusinessValue,MeasurementTheory,LiteratureReview1、IntroductionBusinessvaluemeasurementtheoryroseintheUnitedStatesintheearly1960thofthe20thcentury.Withthe50years’developmentandapplication,Westerndevelopedcountrieshavebeengreatlyappliedinpractice.Atpresent,thetheoryandmethodofenterprisevalueevalu
4、ationinWesterndevelopedcountrieshavebeenmoreandmoremature,andithasbeenusedtoassessinpractice.InChina,theapplicationofbusinessvaluemeasurementtheoryislaterthanwesterncountrieswhichisnowrelativelyslowly.Therefore,arrangingthepresentresearchresultsandanalysisthetheorystructurehavebeenanimportantaspec
5、tssoastoformatight,coherenttheorysystem.OntheguidanceofthebusinessvaluationpracticeitcanestablishnewmethodsofbusinessvaluationinChina,anditisessentialtopromotethedevelopmentoftheoreticalstudy.2、StudiesAbroadBusinessvaluemeasurementhaveahistoryofhundredsofyearsasanindustryinWesterncountries.Duringt
6、hosehundredsofyears,manyscholarsinWesterncountriesonbusinessvaluationhavedonealargenumberoftheoreticalstudies.Shiller(1981)usedthediscountedcashflowmodeltodescribestockpricesfluctuatingboundaries,andtheresearchshowsthatrealstockpriceschangesignificantlybeyondthisrange.Becausetheseuncertaininformat
7、ionisestimatedwithhypothesisanddataprocessingtechnology.Itsdisadvantageisthatitrequiredtoomanyintuitionfordecisionmakers,butalsoachievingmanypossibledistributionhypothesis[1]In1995,Ohlsonusetheconceptionofcleansu