FCFE模型与蒙特卡洛模拟相结合在公司估值中的应用  

The Application of FCFE Model and Monte Carlo Simulation in Corporate Valuation

作　　者：常振辉 高岩[1] CHANG Zhen-hui;GAO Yan(Colleg of Management,University of Shanghai for Science and Technology,Shanghai 200093,China)

机构地区：[1]上海理工大学管理学院,上海200093

出　　处：《中国林业经济》2018年第1期94-97,共4页China Forestry Economics

摘　　要：随着国家经济新常态的到来,去产能持续深化。资本市场对于收购、重组等也有了更多需求。采用FCFE模型对公司进行估值,同时将市场的风险性考虑在内,允许参数在一定范围内随机波动。利用蒙特卡罗模型对上述过程进行模拟,得出较为合理的公司价值。With the arrival of the new national economic,the government take measures to deepen production capacity.The capital market also has more demand for acquisitions,restructuring and so on.In this series of capital operations,it is particularly important to accurate valuation of the company.In this paper,the FCFE model is used to evaluate the company,and the risk of the market is taken into account,which allows the parameters to fluctuate in a certain range.The Monte Carlo model is used to simulate the above process,and finally we can get a reasonable corporate value.

关 键 词：公司估值 FCFE模型 蒙特卡洛模拟 

分 类 号：F270[经济管理—企业管理]