摘要
股权缺乏流动性时的折价,对企业股权价值评估结果的影响往往是很大的。我国目前在这方面的研究还处于探索阶段。本文通过美国税务法庭2002年3月所审理的一宗保险公司股权价值的案例,对影响企业股权缺乏流动性的折价的因素进行了分析,认为影响此类折价率有风险及控制权两个方面的因素,并以此希望能对我国缺乏流动性的股权的价值评估提供借鉴。
Liquidity discount has a great effect on equity valuation. At present, there is not much research on this topic in China. In this article, the author analyzed the factors affecting liquidity discount through a US trial of an insurance company’s equity valuation judged by a tax court, and concluded that risks and control rights are the key factors determining discount rate. Also, the author hoped that this article could give a reference to the research on liquidity discount in China.
出处
《中国资产评估》
2008年第7期5-7,共3页
Appraisal Journal of China