NCHU Course Outline
Course Name (中) 企業評價分析(7048)
(Eng.) Analysis of Business Valuation
Offering Dept Department of Accounting
Course Type Elective Credits 3 Teacher LIU YI-MIEN
Department Department of Accounting / Graduate Language Chinese Semester 2026-SPRING
Course Description 資產評價須以公允價值來表示,因為所有資產的公允價值總額代表公司價值。舉凡企業併購交易、初次公開上市股票定價、重大資產購置、專利之授權買賣,皆需要評價專業來提供公允價值之服務以利交易進行。藉由透視隱藏在財務報表的資訊,以掌握各項財務資料的可靠性及可能的雜訊,將可使資訊使用者制定更完善的決策。本課程希望同學們了解如何對企業的經營架構、經營績效以及財務體質與風險進行分析,並能對未來的經營績效進行完整的預測與評價。
Prerequisites
Relevance of Course Objectives and Core Learning Outcomes(%) Teaching and Assessment Methods for Course Objectives
Course Objectives Competency Indicators Ratio(%) Teaching Methods Assessment Methods
本課程旨在培養學生對企業價值評估與財務分析之專業能力。透過理解公允價值概念與評價方法,學生將學習如何在企業併購、初次公開發行定價、重大資產投資與無形資產授權等情境下,進行合理之價值衡量與判斷。課程亦將引導學生透視財務報表所隱含之經濟資訊,辨識資訊之可靠性與潛在雜訊,以提升分析判斷能力。透過系統性的架構,學生將能對企業之經營模式、經營績效、財務體質與風險進行整合分析,並進一步對企業未來績效與價值進行預測與評估。
1.Critical Thinking
100
Course Content and Homework/Schedule/Tests Schedule
Week Course Content
Week 1 課程簡介
Week 2 單元3 EVA分析
Week 3 單元8 資金成本的估算
Week 4 單元9 類似公司比較法
Week 5 單元10-1 股利折現模式及自由現金流量評價法
Week 6 單元10-2 FCF評價法(吳)
Week 7 單元10-3 FCF評價法(TM)
Week 8 期中考周
Week 9 單元9~11個案公司類似比較及折現法(冠宇)
單元9~11 Excel
Week 10 Elliott, W.B., Koëter-Kant, J., Warr, R. S., 2007. A valuation-based test of market timing. Journal of Corporate Finance 13, 112-128.
Week 11 Benlemlih, M., Ge, J., Zhao, S. 2021. Undervaluation and non‐financial information: Evidence from voluntary disclosure of CSR news. Journal of Business Finance & Accounting 48(3), 785-814.
Week 12 Bonaimë, A.D., Oztekin, O., Warr, R.S., 2014. Capital structure, equity mispricing, and stock repurchases. Journal of Corporate Finance 26, 182-200.
Week 13 期末報告
Week 14 期末報告
Week 15 期末討論
Week 16 期末討論
self-directed
learning
   02.Viewing multimedia materials related to industry and academia.
Hua, S.-Y., Lin, Y.-H., & Lai, C. W. (2016). The effect of overvaluation on investment and accruals: The role of information. Journal of Empirical Finance, 38, 74–91.
Evaluation
課堂討論及上課參與70%、期末報告30%
Textbook & other References
王淑芬著,企業評價,台北:華泰
吳啟銘,企業評價—個案實證分析,智勝文化。
Teaching Aids & Teacher's Website

Office Hours
星期二 12:00-14:00
Sustainable Development Goals, SDGs(Link URL)
include experience courses:N
Please respect the intellectual property rights and use the materials legally.Please respect gender equality.
Update Date, year/month/day:2026/02/23 21:51:47 Printed Date, year/month/day:2026 / 5 / 31
The second-hand book website:http://www.myub.com.tw/