As a result of different characteristics of the expecting cash flows , there are several forms of dcf model in practice 由于预期现金流的特性不同,贴现现金流模型在实践中存在多种形式。
Through the analysis , considering the difficulty of forecasting the expected cash flow , and the real situation of the domestic corporation bonds , the object of the research is finally decided to be normal corporation bonds without embed option 文章在分析时考虑到预期未来现金流的实际难度和我国企业债券的实际情况,因此确定了研究对象范围是不含期权特征的普通企业债券。
Dcf defines value of companies as the function of three factors , that is , ( l ) the period of the future cash flow ; ( 2 ) the amount of the expecting cash flows in future ; ( 3 ) the risk relating to the future cash flow 该模型将公司价值定义为公司预期现金流产生的时间、大小以及与预期现金流相关的风险三者的函数,其基本原理是,任何资产的价值等于其预期未来全部现金流的现值总和。
Thus given a good reason to explain the enterprise ' s equity financing preferences well . this dissertation given a introduce of the measurement of expected cash flow based enterprise value first , and demonstrated essential uniformity of dcf method and eva method emphatically 文章首先对以预期现金流为基础的企业价值测算方法进行了介绍,并重点论证了贴现现金流法( dcf法)和经济增加值法( eva法)在本质上的一致性。
To structure a successful securitization transaction , the sponsor should design out more complicated contracts to scatter the risks and interests on the expected cash flow of the underlying assets and transfer the asset to a spe to isolate the risk of transferred assets from other assets 一项成功的资产证券化交易,发起人需要设计出各种复杂的合约来分散被转让资产未来现金流上的风险和收益,同时将该资产转让给一个特殊目的实体,使该资产上的风险与发起人其他资产上的风险相隔离。
In the view of valuation practice , the author discusses how to apply dcf models for valuation of non - listed companies more effectively . this paper especially probes into two problems in the valuation of non - listed companies in china , one is to measure the discount ratio of the expecting cash flows , and the other is the estimation of valuation discount for the lack of marketability 本文主要是从评估实践的角度,探讨如何更有效地运用贴现现金流模型对非上市公司的股权价值进行评估,重点讨论了我国非上市公司股权价值评估中贴现率及股权缺乏流动性的价格折扣的估算。