上市公司估值模型的实证分析——基于中国神华2005年至2010年的数据  

An Empirical Analysis of Valuation Models of Listed companies——based on the data of China Shenhua from 2005 to 2010

作　　者：陶双桅[1] 

机构地区：[1]中央财经大学,北京100081

出　　处：《上饶师范学院学报》2013年第5期87-91,共5页Journal of Shangrao Normal University

摘　　要：随着我国股票市场的发展,上市公司股票价值的评估成为了投资者最为关注的内容。文章对上市公司估值模型的分析进行了较为详细的介绍,阐述了贴现现金流估值法的计算过程,并以中国神华股票的估值为例,运用两阶段FCFF模型对其股票进行了合理的估值,得出该股票的内在价值为投资者提供一定的借鉴和参考依据。With the development of stock market in our country, the evaluation of listed stock has become the focus which people pay more attention to. This paper introduee~ the listed company valuation model analysis in details, and expounds the calculation process of the discounted cash flow valuafiarm. The paper, taking Shenhua Energy stock valuations for example, makes a reasonable value estimation by means of two stage FCFF models, obtains its intrinsic value and provides investors with certain models for reference.

关 键 词：股票估值 现金流贴现法 内在价值 

分 类 号：F832.5[经济管理—金融学]