摘要
在应用收益法对公路经营权价值进行评估的过程中,折现率的确定对评估结果会产生很大影响,在折现率的选择方面,应该根据不同的经济行为选择不同的折现率。在公路经营权转让、政府回购、公路经营企业股权转让等方面,折现率的含义及折现口径是不同的,如何科学界定折现率选取的原则将对规范收费公路资产评估有着重要作用。针对不同经济行为,分别讨论不同经济行为折现率的确定方法。对折现率确定方法的优化与发展提出了相关建议。
In the application of the income method to evaluate highway operation rights,the discount rate will have a significant impact on the evaluation results. To select discount rate, the different discount rate upon different economic activities should be chosen. In different activities, such as the transfer of the highway rights, the behavior of government buy-back and the transfer of shares, the meaning and caliber of discount rate are different. How to select the discount rate will play an important role in highway rights evaluation. Upon different economic activities,the determination methods of the different discount rate are discussed and some recommendations for the optimization of discount rate are presented.
出处
《公路》
北大核心
2010年第2期91-94,共4页
Highway
基金
交通部软科学项目
关键词
经营权评估
折现率
资本资产定价模型
加权平均资本成本定价模型
highway operation rights evaluation
discount rate
capital asset pricing model
cost pricing model of weighted average capital
