【摘要】 近年来国内企业的并购活动比较频繁。在并购决策过程中，必然涉及到目标企业的价值估算问题。而价值估算的准确与否，直接关系着并购活动的成败。由于企业是市场经济中的一种特殊商品，其价值是由多种因素决定的，目标企业的价值估算是一个十分复杂的问题，因此，并购企业对目标企业的价值采取切实可行的评估方法就显得十分必要。资产价值基础法、收益法和自由现金流量法是并购企业可以选择的几种方法。更多还原

【Abstract】 In the past few years, the combination and purchase between domestic enterprises became more and more frequent. In making decision, the asset appraisal of target-enterprises must be involved, and the accuracy of its appraisal value has an important bearing on the success of the combination and purchase. Because the enterprise is a special commodity and its value is determined by many factors, how to appraise the asset value of target-enterprise is very complicated. It indicates that the feasible and practical methods for asset appraisal of target-enterprise are necessary. In this paper, three methods are introduced for enterprises to choose, namely, the asset value evaluation, the earning and the free cash flow.更多还原