BOT融资项目价值分析

[]BOTBOTTOTWorkResearchWorkResearchWorkResearchWorkResearch[1]..2008.[2]..2005.()WorkResearchInternationalCommunication2010MeetingoftheBoardofTrusteesoftheInternationalValuationStandardsCouncil(IVSC)wasHeldintheU.S.Guoji(Cove2)WorkResearchValueAnalysisoftheBuild-Operate-Transfer(BOT)FinancingProjectWangShaohao(P06)BOTfinancingconstructionprojectisanewkindoffinancialinnovationinChina,alsocalled“franchisefinancing”.Itisaverysuitablefinancingwayforprojectswhichhavestrongsocialbenefitssuchastraffic,energyandwaterprojects,etc.Inrecentyears,duetotheincreasingofdomesticBOTandTOTconstructionproject,thevalueanalysisandevaluationbecomemarketdemand.Thisarticlefirstlyintroducedthefinancingcharacteris-ticsofBOTproject,andthenanalyzedthevaluationcharacteristicsofBOTproject,andfinallyexploredthenewvaluationtechniquesfromapracticalcaseanalysisanddiscussion.ValueCorrelationResearchonAssetValuationforTradingXuYudeQiLina(P11)Thisarticlemadeanempiricalanalysisontheassetvaluationresultanditsinfluencefactorsoflistedcompa-nies’assetreconstructioninchina,andtriedtoidentifythevaluecorrelationofvaluationfortrading.Theresearchfound,differentreconstructionkindsdonothaveasignificantinfluenceonnetassets’growthrate,whiledifferentvaluationmethodshaveasignificantinfluenceonnetassets’growthrate.Theresearchalsofoundthatwhenthevaluationobjectbelongstoalistedcompany,itinfluencesthemarketslightly,andlong-termequityinvestmentcouldexplainthestockvaluewell.DiscussiononValuationinJudicialAppraisalWangShunlinLiXiaoming(P15)TheoreticalDiscussionStudyontheImprovementofResidualIncomeModelBasedonP/BMultipleLiGuangming(P19)Thisarticlecomparedthreebasicmodelsandtheirprosandconsforevaluatingthepresentvalueofearnings,i.e.dividenddiscountedmodel,cashflowdiscountedmodelandresidualincomevaluationmodel;pointedoutthetheoreticaldefectsofincomepresentvaluevaluationmethodandrelatedissues;describedthepreviousimprovementeffortsmadebyotherpeopleonthevaluationmethod;andproposedanimprovementofresidualincomevaluationmodelbasedonP/Bmultiple.Theimprovedmodelproposedbythisarticlehasintegratedtheassetbasedvaluationmethod,incomepresentvaluemethodandrelativecomparisonvaluationmethod,andavertedthedilemmaoflong-termincomeforecast.