以交易为目的的资产评估价值相关性研究——来自A股市场的经验证据

Value Correlation Research on Asset Valuation for Trading

本文试图通过对我国上市公司资产重组中资产评估结果的确定及影响因素进行实证分析,来验证以交易为目的的资产评估的价值相关性。研究发现,不同重组方式对净资产的增值率没有显著影响,而不同评估方法下的评估结果则显著影响了净资产增值率;重组事件中评估标的物属于上市公司时,对市场没有显著影响,但长期股权投资则对股价有解释力。

This article made an empirical analysis on the asset valuation result and its influence factors of listed companies' asset reconstruction in china,and tried to identify the value correlation of valuation for trading.The research found,different reconstruction kinds do not have a significant influence on net assets' growth rate,while different valuation methods have a significant influence on net assets' growth rate.The research also found that when the valuation object belongs to a listed company,it influences the market slightly,and longterm equity investment could explain the stock value well.