试论确定智力资本价值的折现率

Research on discount rate deciding intellectual capital

智力资本价值的确定有助于确定公司价值,而公司价值的确定有助于实现社会资源的有效配置,提高整个社会资源的利用效率。确定智力资本价值的一种重要方法是折现法,这种方法的运用需要先确定折现率。目前确定折现率的方法有的存在着一些不合逻辑之处,有的无法计算其中的一些重要参数。本文提出通过若干年经济增加值计算智力资本折现率的新方法。

Decision on the value of intellectual capital helps to decide company value , while decision on company value help to achieve effective collocation of the social resource and raise use efficiency of the whole social resource, One important method to decide value of intellectual capital is discount method which needs to decide the discount rate. Now some methods deciding discount rate are illogic, some can not to calculate a few important parameter thereinto. This papdr raise a new method calculating discount rate by＂ economic value added of a few years.