【作者】 马小琪；

【导师】 李汉铃；

【作者基本信息】 哈尔滨工业大学 ， 管理科学与工程， 2006， 博士

【摘要】 随着资产重组、抵押租赁等资产业务的频繁迭起,以及战略管理、价值分析等先进理念的孕育而生,企业和个人日渐重视资产的现时价值及其管理。作为伴随资产业务、能提供资产现时价值的资产评估中介性活动,如何适应资产评估研究范式的转化趋势,在复杂、动态与不确定的环境背景条件下构筑完善的资产评估理论,进而选择适用的资产评估方法以提高资产评估质量是资产评估界面临的新议题。传统资产评估理论构建于新古典综合价值理论基础之上。在规范、理性与确定性的假设条件下,学者们注重于对资产评估结果的测评,而将资产评估活动视为机械化与程式化的过程。随着行为经济学的发展,资产评估研究逐渐转向评估过程分析。但在这一研究范式框架下,学者们主要突出对以有限理性为特征的资产评估主体在评估过程中影响资产评估结果准确性的环节和方面进行理论探索与实证分析,缺乏对资产评估不确定性与评估过程的完整描述,也缺乏对评估价值标准判断及对资产评估业务中各相关要素间逻辑关系的系统研究。鉴于此,本文依托当今复杂多变的经济环境背景,追踪当前经济理论前沿,顺应研究范式的转换趋向,开创性地提出运用博弈均衡论相关成果对资产评估机理这一新的研究模式进行研究。本文首先对资产评估机理进行了逻辑层次(要素机理、概念基础(AVS)、理论基础)的构造。按照这一逻辑层次,本文在要素机理层面,提取评估主体、信息、环境三大关键要素,结合其他要素构筑要素耦合图,并依此构造资产评估的过程系统结构图与控制流程图;在概念层面,确立资产评估价值标准(AVS)这一核心概念的内涵(FMV);在理论基础层面,首先澄清了资产评估的会计理论基础,然后依次(第三章与第四章)介绍了基于新古典经济学与博弈论的资产评估机理的特点。本文在分析传统新古典均衡价值理论框架下的资产评估机理及其相应评估方法的特点与局限性的基础上,将资产评估的理论基础延伸至均衡论,并首次提出基于具有适应不确定经济环境、强调决策互动的博弈均衡论模型,分别以评估主体完全理性与有限理性为假设前提对资产评估机理进行模拟,具体研究内容包括:资产评估的职能、依据、要素、估价流程、偏差分析,以及运用博弈学习理论模拟资产评估师搜寻资产均衡市场价格的学习过程更多还原

【Abstract】 Under the background of frequent activities such as reorganization、M/A and mortgage and chartering taking place, paralleled with advanced notion like strategy management and value analysis,enterprises and individuals pay more attention to asset current value and its management. Asset appraisal, as a part of neutral activity which tightly accompanied with asset business, put forward a new theme on how to conform to the transformation trend of appraisal research and build up more perfect and integrated appraisal theory under comprehensive, mobile and uncertain conditions which may be helpful to select a proper method in order to promote the quality of appraisal in the activityTraditional appraisal theory is built on neo-classical value theory. Under the normative, rational and certain hypothetical conditions, scholars pay more attentions to the uniformity test of appraisal result, thus looking on appraisal activity as a mechanical and formula process. Following the trend of the development of behavioral economics, appraisal research increasingly transform to appraisal process analysis. But under this paradigm framework, scholars mainly emphases on the theoretical and practical analysis on how appraisal hosts featured with bounded ration affect appraisal result in some links and aspects, not only lack of completed description on uncertainty, but also lack of value standard and the systematic research on the logic relationship of various elements concerning in the activity.My paper, backed with the complex and changing economical environment, tracking the current theories of economics, complying with the trend of transformation of research paradigm, applies Game Theory as the theoretical foundation to deeply invest the principle and its suitable method.My paper, firstly builds up a logic framework in the research, that is Element Mechanism, Concept Foundation (AVS) and Theory Foundation. On Elements Mechanism layer, the paper not only extracts three key elements, that is host, information and environment, combined with other elements, but also builds up a model of element agreement and constructs appraisal process systematical structure as well as control flow chart. On Concept Foundation layers, the paper更多还原