现金流量折现法在公司价值评估中的有效性研究
The Validity of Company Valuation Using Discounted Cash Flow Methods
摘要：
本文仔细研究了广泛使用的贴现现金流量（DCF）估值方法的理论和实践方面。它评估了它的潜力以及几个弱点。特别强调的是使用现金流量折现法对公司进行估值。本文发现，贴现现金流量法是一个强大的工具，即使是分析复杂的情况。然而，贴现现金流量法受到大量假设偏差的影响，即使分析的基本假设发生微小变化，也会大大改变估值结果。这些影响的一个实际例子是使用场景分析。
英文摘要：
This paper closely examines theoretical and practical aspects of the widely used discounted cash flows (DCF) valuation method. It assesses its potentials as well as several weaknesses. A special emphasize is being put on the valuation of companies using the DCF method. The paper finds that the discounted cash flow method is a powerful tool to analyze even complex situations. However, the DCF method is subject to massive assumption bias and even slight changes in the underlying assumptions of an analysis can drastically alter the valuation results. A practical example of these implications is given using a scenario analysis.
机构、总结、中文摘要均由AI分析而来，可能存在错误，请以论文正文为准。
