科技型中小企业股权投资估值评价体系研究

Research on the Evaluation System of Equity Investment Valuation of Science and Technology SMEs

本文通过采用层次分析法并选择5项二级指标和18项三级指标对科技型中小企业融资能力进行评价,利用Z-score模型为其股权投资决策提供财务风险的合理预警,然后在现有理论的基础上构建模型对科技型中小企业进行估值计算及其合理性评价。结果表明,科技型中小企业股权投资评估体系的建立与完善,能够为国内科技型中小企业在未来发展和资本市场的运作中提供借鉴。

This paper selects five criteria dimensions and 18 third-level indicators to evaluate the financing ability of science and technology SMEs,and uses Z-score Model to provide a reasonable early warning of financial risk for their equity investment decision-making by using analytic hierarchy process,and then on the basis of effective reference to existing theories,we adjust and build the model for the valuation calculation and reasonable evaluation of science and technology SMEs.The results show that the supervision and improvement of the equity investment evaluation system of science and technology SMEs can provide reference for the future development of domestic science and technology SMEs and the operation of the capital market.