摘要
几个世纪以来 ,经济学家一直在试图说明 ,只有经济利润才能够真正反映企业的价值创造能力 ,而会计利润则或多或少地扭曲了企业所创造的价值 ,因此必须进行会计调整才能够使会计利润与经济利润一致。经济利润在企业价值评估中起着非常重要的作用 ,本文从折现现金流的方法入手 ,推导出企业价值和经济利润之间所存在的必然联系。
Over the past few centuries, economists have been all along in an attempt to show that only economic profit can reflect genuinely an enterprise's value creation capacity, and yet accounting profit distorts, more or less, the value created by an enterprise. Thus accounting regulation must be done so as to be able to reach the consensus between accounting profit and economic profit. Economic profit plays an important role in an enterprise value assessment. Starting from the approach to discount cash flow, this paper derives the necessary link between enterprise value and economic profit.
出处
《当代经济科学》
CSSCI
北大核心
2001年第5期82-85,共4页
Modern Economic Science
关键词
经济利润
折现现金流
会计调整
价值评估
价值创造
企业
economic profit
discount cash flow
accounting regulation
value assessment
value creation
