摘要
企业画像值是从价值维度度量画像的内在价值,在分析三个基本途径评估方法基础上,考虑ESG可持续性评价衡量指标,构建了国控上市公司修正画像值评估公式。国控上市公司价值指数与股票价格指数不尽相同,其以画像值为基础数据,基于其编制目的设置了一套多维度的价值指数体系,参照股票价格指数的编制,制定了各类价值指数的编制方法。就国控上市公司画像值构成部分的权重赋予和画像值修正系数,确定了主客观的量化方法,并就画像值中收益法评估和市值调整进行了完整性的搭建。为有效利用该价值指数,对变动进行了归因因素分析和量化模型建立,最后解析了某国控上市公司画像值和归因案例。
The enterprise portrait value measures the intrinsic value of the portrait from the value dimension.Based on the analysis of three basic assessment methods and considering the ESG sustainability evaluation metrics,a modified portrait value assessment formula for state holding listed companies was constructed.The value index of state holding listed companies is not the same as the stock price index.It is based on portrait values and a multi-dimensional value index system which is set up according to its compilation purpose.Referring to the compilation of stock price indices,the compilation methods for various value indices were established.The subjective and objective quantification methods were determined for the weighting of the components of the portrait value of state holding listed companies and the portrait value correction coefficient.A complete framework was built for the income approach assessment and market value adjustment in the portrait value.To effectively utilize this value index,factor analysis and quantitative model establishment for changes were conducted.Finally,a case study of the portrait value,and attribution of a state holding listed company was analyzed.
作者
汪世新
王进江
Wang Shixin;Wang Jinjiang(Shanghai Huahong(Group)Co.,Ltd 201203;China Enterprise Appraisals Co.,Ltd.,100020)
出处
《中国资产评估》
2025年第7期47-55,共9页
Appraisal Journal of China
关键词
国控上市公司
画像值评估公式
价值指数体系
指数编制方法
归因量化模型
State holding listed companies
Portrait value assessment formula
Value index system
Index compilation method
Attribution quantification model
