{"id":1600,"date":"2015-05-02T11:51:00","date_gmt":"2015-05-02T15:51:00","guid":{"rendered":"https:\/\/beizhanliu.com\/?p=1600"},"modified":"2026-04-19T18:14:00","modified_gmt":"2026-04-19T22:14:00","slug":"economic-wheel-economic-theory-on-the-uniqueness-of-business-valuation-model-%e7%bb%8f%e6%b5%8e%e4%b9%8b%e8%bd%ae-%e7%bb%8f%e6%b5%8e%e7%90%86%e8%ae%ba-%e8%ae%ba","status":"publish","type":"post","link":"https:\/\/beizhanliu.com\/?p=1600","title":{"rendered":"Economic Wheel \u2013 Economic Theory \u2013 On the Uniqueness of Business Valuation Model [\u7ecf\u6d4e\u4e4b\u8f6e – \u7ecf\u6d4e\u7406\u8bba \u2013 \u8bba\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027]"},"content":{"rendered":"


\n<\/p>\n

<\/p>\n

\nEconomic Wheel \u2013 Economic Theory \u2013 On the Uniqueness
\nof <\/span><\/b><\/div>\n
\nBusiness Valuation Model<\/span><\/b><\/div>\n
\n<\/div>\n
\n– Together on Beizhan Model<\/span><\/b><\/div>\n
\n<\/div>\n
\n\u7ecf\u6d4e\u4e4b\u8f6e<\/span><\/b> – \u7ecf\u6d4e\u7406\u8bba <\/span>\u2013 \u8bba\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027<\/span><\/span><\/b><\/div>\n
\n<\/div>\n
\n– \u517c\u8bba\u5907\u6218\u8bc4\u4f30\u6a21\u5f0f<\/span><\/span><\/b><\/p>\n
\n<\/a><\/div>\n<\/div>\n
\nThe author summarized the existing business
\nvaluation models and methods, and proposed the issue of uniqueness of business valuation model <\/b>in accordance with the
\nbasic principles of business. The author proposed BEIZHAN MODEL <\/b>which can be used as the only one business valuation
\nmodel based on the universal rules of business.<\/span><\/div>\n
\n<\/div>\n

1. Current Business Valuation Models
\n<\/span><\/b>
\n1.1 Definition of Business Valuation
\n<\/b>
\nBusiness Valuation is a kind business
\nbehavior practiced by business valuation professionals to assess the value of
\nthe whole or part of a business according to certain business valuation model
\nand to determine the price of the business.<\/b><\/span><\/p>\n

1.2 Status and Role of Business Valuation
\n<\/span><\/b>
\nBusiness valuation is the foundation of
\nbusiness as a special commodity to trade and exchange.<\/b> Business valuation
\nis a mandatory work for business development, business integration, business
\nexchange and a business transition. Business valuation is also a means for
\nbusiness operators and owners to conduct comprehensive self-evaluation on the
\nperformance of the operated business. Business valuation is also a necessary
\ncondition to implement value management on the business.<\/span><\/p>\n

1.3<\/span><\/b><\/span> Definition of<\/span> Business Valuation<\/span> Model<\/span> [<\/sup><\/span>3]<\/sup>
\n<\/span><\/b>
\nBusiness valuation<\/b><\/span> model<\/span> should be defined<\/span> as the set of<\/span> the contents to be valued, the valuation scope and the valuation methods
\napplied.<\/span><\/b><\/span><\/p>\n

1.4<\/span><\/b><\/span> Definition of Business Valuation<\/span> Method<\/span>
\n<\/span><\/b>
\nBusiness valuation<\/b><\/span> method<\/span> should<\/span> be defined as<\/span> the
\nmethod<\/span> to calculate<\/span> the value of<\/span>
\n<\/b><\/span>a <\/span><\/b>certain<\/span><\/b><\/span> level<\/span> of the assessed business.<\/span><\/b><\/p>\n

1.5<\/b><\/span> Relationship<\/span>
\nbetween Business Valuation<\/span> Model and<\/span>
\nValuation Method<\/span><\/b><\/p>\n

Business valuation<\/b><\/span> model<\/span> should be<\/span> unified<\/span> and<\/span>
\nunique<\/span><\/b>;<\/span> business
\nvaluation<\/span> methods<\/span> for<\/span> different levels<\/span> of<\/span> a<\/span>
\nbusiness<\/span> can be different<\/span>; that
\nis to say that business valuation<\/span> model<\/span>
\ncan contain<\/span> multiple different<\/span> valuation methods<\/span>. The valuation method regarding the same
\nlevel of business shall be the same as most as possible. In
\ncase of<\/span> rationality<\/span> accepted by
\nall<\/span>, the valuation methods for the same<\/span> level of
\nbusinesses can be different; such as the variation of valuation
\nmethods caused by the industry difference; the variation methods caused by
\nprofit growth property, etc. The compatibility of different valuation methods
\nfor the same business level can be developed and improved according to the business valuation framework<\/b>.<\/span><\/span><\/p>\n

1.6 Current Business Valuation Models and Methods
\n<\/span><\/b>
\nIn speaking of current situation, <\/span>business
\nvaluation is fulfilled with <\/span>different business valuation models [1]<\/sup>.
\nCurrent business valuation models mainly are the followings:<\/p>\n

1.6.1 Asset(or cost) based approach
\nmethod
\n1.6.2 Market-based approach method
\n1.6.3 Income-based approach method
\n1.6.4 Venture capital approach method
\n<\/b>
\n2. The Uniqueness of Business Valuation
\nModel
\n<\/b>
\n2.1 Basic Principle of Business
\nTransaction
\n<\/b>
\nThe basic principle of business
\ntransaction is that same value goods can be exchanged.<\/b> Based on this
\nprinciple, I think that business valuation model should only be one, which is
\nthe uniqueness of business valuation model.<\/p>\n

2.2 Uniqueness of Business Valuation
\nModel
\n<\/b>
\nThe uniqueness of business valuation
\nmodel means all business valuation shall apply the same business valuation
\nmodel.<\/b> Then we can ensure the comparability of valuation results; we can
\nensure the fairness of the business transactions. The valuation results brought
\nby different valuation models can not be compared.<\/span><\/p>\n

\n<\/span>2.3. The Significance of the Uniqueness of Business
\nValuation Model

\n

\n<\/span><\/b><\/div>\n
\nThe uniqueness of<\/span><\/span> business valuation model<\/span>
\ndetermines<\/span> the<\/span> comparability
\nof business<\/span>, ensures<\/span> the fairness
\nof<\/span> business transactions. <\/span>It’s like to determine
\nthe weight of an object, the standard of weights and measures shall be unified,
\ndifferent units of measurement should have only one conversion standard.
\nTherefore, determination of a unified unique business valuation model for the
\ntransaction of business (equity trading), this particular commodity, has a very
\nimportant significance. Significance of
\nthe Unification of business valuation model is equivalent to the <\/b><\/span>significance of <\/span><\/b>the unification of weights and measures standard.<\/span><\/b><\/span><\/div>\n
\n<\/div>\n
\n3. Beizhan
\nValuation Model

\n

\n<\/span><\/b><\/div>\n
\n3.1. The
\nDrawbacks of Current Business Valuation Models
\n<\/span><\/b>
\nCurrent business valuation models all have the
\nsignificance of partial business valuation<\/b> all have limitations, can not
\nfully reflect the full value of the valued business. Using P \/ E<\/b> values <\/span>\u200b\u200b<\/span>to determine the terminal value of a business is subjective<\/b>, has no basis, the possible
\ndeviation which may be brought is a multiplying result and is unacceptable. Weighted approach<\/b> to multiple business
\nvaluation results based on different valuation model is subjective<\/b> and has no basis, so it is unscientific and therefore is
\nunacceptable.<\/p>\n

3.2. The Foundation for the Uniqueness
\nof Business Valuation Model<\/b>

\n

\n<\/span><\/div>\n

\nThe uniqueness of business valuation model is determined
\nby the commonality of <\/span>business itself, which
\nis the internal basis of the uniqueness of the business valuation model. The
\nexternal foundation of the uniqueness of business valuation model includes
\ngeneral rules and common requirements of business.<\/span><\/div>\n
\n<\/div>\n

3.2.1 The Commonality<\/span> of
\nBusiness

\n

\n<\/span><\/b><\/span><\/p>\n

\nThe common features of business include:

\n

\n<\/span><\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>Presently owning certain technologies, facilities,
\nfinancial resources and human resources (current
\nresource characteristics<\/b>)<\/span><\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>Presently owning certain profits (current profit characteristics<\/b>)<\/span><\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>May have stable profit or growing profit (profit growth characteristics<\/b>)<\/span><\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>May have stable business or expanding business (resource expansion characteristics<\/b>)<\/span><\/div>\n
\n<\/div>\n
\n3.2.2. The
\nGeneral Rules of Business

\n

\n<\/span><\/b><\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>Comparability<\/span><\/b>: Business transaction requires that goods
\nwith same value can be compared<\/span><\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>Fairness<\/span><\/b><\/span>: Business transaction requires that the
\nexchange of goods is fair<\/span><\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>Universality<\/span><\/b>: comparability and fairness of business
\ntransactions shall be applied to any business<\/span><\/div>\n
\n<\/div>\n

3.2.3 The Common Requirements of Business<\/span><\/b><\/p>\n

\n\u00b7        
\n<\/span><\/span><\/span>The Unity of Business Valuation Model
\n<\/span><\/b>
\nNo business in the world can be said that it can not be valued, the perfect
\nbusiness can be valuated, the non-perfect business can also be valued with the
\nsame business valuation model. This is the unity of business valuation model.<\/span><\/div>\n
\n<\/div>\n
\n\u00b7        
\n<\/span><\/span><\/span>The Popularity of Business Valuation Model
\n<\/span><\/b>
\nBusiness valuation model shall not be inscrutable metaphysics or high-energy
\nphysics, business is well known, and therefore, business valuation model shall
\nalso be easy to be understood by the public, this is the popularity of business
\nvaluation model.

\n

\n<\/span><\/div>\n

3.3. Beizhan Model
\n<\/span><\/b>
\nBased on the external foundation of business valuation model, according to the
\ninternal foundation of business valuation model, establishing the united and
\nunique business valuation model is possible. Standing on this, I would like to
\npropose the fact plus growth valuation model, that is the Beizhan Model<\/b>. <\/p>\n

3.3.1 Fact plus Growth Valuation Model
\n<\/b>
\nFact plus growth valuation model consists two parts, the fact part<\/b> is the valuation on the current resource characteristics <\/b>and current profit characteristics<\/b> of a business, the growth part<\/b> is the valuation on the profit growth characteristics<\/b> and resource expansion characteristics <\/b>of a
\nbusiness. <\/p>\n

The valuation of the fact part is relatively easy to understand, and it is
\npossible to get relatively more objective valuation result. Many current
\nbusiness valuation models belong to this kind valuation, such as: assets (or
\ncost) based approach method, income-based approach method, and so on.

\n

\n<\/span>
\nThe valuation of the
\ngrowth part is relatively not easy to understand or acceptable. However, profit
\ngrowth and resource expansion are the essence of business, which is not
\ndifficult to understand. Of course, the profit growth characteristics and
\nresource expansion characteristics of each business are different. There are
\nthree main growth types here, one is parallel
\ngrowth<\/b>; one is curve growth<\/b>; one
\nis curve shrink (negative growth).<\/b>
\nCurve growth may contain the case of geometric
\ncurve growth<\/b>. For example: the growth of the discrete business of catering,
\nretail and other businesses belong to parallel growth type; the growth of chain
\nstore business belongs to curve growth type; and <\/span>the
\ngrowth of <\/span>some internet
\ncompanies <\/span>at some stages <\/span>belongs to geometric curve growth type; <\/span>the growth of <\/span>some uncompetitive companies at some stages belongs to
\ncurve shrink type.<\/span><\/p>\n

Some people will
\ndefinitely say, the valuation of growth part of a business is difficult to be
\ndetermined objectively. It is not in reality. The growth part of a business is
\nfirstly determined by the fact part of the business (Namely current resource
\ncharacteristics and profit characteristics). Secondly, the growth part of a
\nbusiness is determined by the prospect and competition form of the market it
\nbelongs to. These factors can make the valuation of the growth part of a
\nbusiness to be more objective. Competitive position of the business is also a
\nfactor in its growth in part to assess the impact. The competition position of
\na business in the belonged market is a key factor to influence the valuation of
\nthe growth part of that business. The competition position of the business is a
\nkind resource characteristic of the business.<\/span><\/p>\n

\nTo sum up, fact plus growth valuation model shall have
\nuniversal significance, shall be a more objective business valuation model.
\nBecause this business valuation model is based on the internal foundation of
\nthe uniqueness of business valuation model, and therefore, it shall be only one
\nbusiness valuation model.<\/p>\n

3.3.2 Fact Part Valuation

\n

\n<\/b><\/span><\/div>\n

\nThe fact part valuation can be divided into two parts: the valuation of current resources and the
\nvaluation of current profits.<\/b> It is a chromatogram of a business in the<\/span> <\/span>cross
\nsection<\/span> <\/span>on<\/span> <\/span>time<\/span>.

\n

\n<\/span><\/div>\n
\n3.3.2.1.
\nCurrent Resource Valuation

\n

\n<\/span><\/b><\/div>\n
\nCurrent resource valuation consists of three parts: core value, packaging value and strength
\nvalue<\/b>.<\/span><\/div>\n
\n<\/div>\n
\n3.3.2.1.1.
\nCore Value<\/span><\/b><\/div>\n
\n<\/div>\n

The valuation of core
\nvalue consists of valuation of intangible
\nassets and tangible assets<\/b> mainly, such as: brand resources, technology
\nresources, product type product resources, service type product resources, customer
\nresources, and so on. Traditional asset or cost valuation method can be applied
\nto such kind valuation.<\/span><\/p>\n

3.3.2.1.2 Packaging Value<\/span><\/b><\/p>\n

The valuation of
\npackaging value contains the valuation of market resources of a business, such
\nas: market competition position of the business, marketing forms of the
\nbusiness, products or services, and so on. The valuation of this part needs to
\nbe gradually developed and improved based on business valuation framework<\/b>.<\/span><\/p>\n

3.3.2.1.3. Strength Value [2]<\/sup><\/span><\/b><\/p>\n

The valuation of the strength
\nvalue <\/span>\u200b\u200b<\/span>contains the
\nvaluation of the operation resources of a business, such as: business partners,
\nbusiness alliances, business sponsors, business supporters, business documents,
\nbusiness relationships, and so on. The valuation of this part also needs to be
\ngradually developed and improved based on business valuation framework.<\/span><\/p>\n

3.3.2.2. Current Profit Valuation<\/span><\/b><\/p>\n

Current profit valuation
\nmainly focuses on the current profit of a business. The traditional income
\nbased method can be applied to such kind valuation.<\/span><\/p>\n

3.3.3. Growth Part Valuation<\/span><\/b><\/p>\n

Growth part valuation can
\nbe divided into two parts: resource
\nexpansion valuation and profit growth valuation<\/b>. It is a chromatogram of a
\nbusiness in the<\/span> <\/span>cross section<\/span> <\/span>on<\/span> <\/span>time after a
\ncertain expected developing period<\/span>. According to current common
\npractice, the expected developing period generally is five years<\/b>. In my view, this is expected chromatogram and the
\nchromatogram of the fact part is somewhat different, especially in the aspect
\nof resource expansion characteristics.<\/span><\/p>\n

3.3.3.1. Resource Expansion Valuation<\/span><\/b><\/p>\n

Resource expansion
\nvaluation shall be based on the certainty
\nof resources<\/b>, because it is after all a forecast for the future. In my
\nview, the valuation of resource expansion shall mainly include the intangible asset part in the core value<\/b>, such as: brand
\nresources, customer resources, technology resources, and so on. Tangible asset
\nresources, the expansion of packaging value and strength values <\/span>\u200b\u200b<\/span>are uncertain, under the principle of equality and fairness<\/b>, they can be out of
\nconsideration. The valuation of this part can also be gradually developed and
\nimproved based on business valuation framework. The traditional intangible
\nasset valuation method all can be applied to such kind valuation.<\/span><\/p>\n

3.3.3.2. Profit Growth Valuation<\/span><\/b><\/p>\n

Profit growth valuation
\nmainly focused on the profit status in the expected developing period of a
\nbusiness. The traditional method can be used to assess the income of such
\nassessments.<\/span><\/p>\n

4. Summary<\/span><\/b><\/p>\n

The
\nunique of business valuation model is determined by the inherent<\/span><\/span> <\/span><\/span>nature
\ncharacteristics of business, the fact plus growth business valuation model (Beizhan Model<\/b>) I have proposed<\/span><\/span> reflects the inherent<\/span>
\nnature of the business,<\/span> meets the<\/span>
\nexternal<\/span> needs<\/span> of
\nbusiness,<\/span> and therefore it<\/span> can be
\nused as<\/span> the sole<\/span> business
\nvaluation<\/span> model.<\/span> I also<\/span> very welcome further<\/span> discussion<\/span> on this<\/span> model from the<\/span> industry
\ninsiders<\/span>.<\/span><\/p>\n

\n<\/div>\n
\n\u672c\u6587\u4f5c\u8005\u603b\u7ed3\u4e86\u73b0\u6709\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u53ca\u65b9\u6cd5\uff0c\u5e76\u6839\u636e\u5546\u4e1a\u7684\u57fa\u672c\u539f\u5219\u63d0\u51fa\u4e86\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027<\/b>\u7684\u95ee\u9898\u3002\u672c\u6587\u4f5c\u8005\u4f9d\u636e\u5546\u4e1a\u7684\u666e\u904d\u89c4\u5219\u63d0\u51fa\u4e86\u53ef\u4ee5\u4f5c\u4e3a\u552f\u4e00\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u5907\u6218\u6a21\u5f0f<\/b>\uff0c\u4ee5\u4f9b\u5927\u5bb6\u7814\u7a76\u548c\u63a2\u8ba8\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n1.  
\n<\/span><\/span><\/span><\/b>\u73b0\u6709\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n3.1.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u7684\u5b9a\u4e49<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u662f\u6307\u5546\u4e1a\u8bc4\u4f30\u4e13\u4e1a\u4eba\u58eb\u4f9d\u636e\u4e00\u5b9a\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u5bf9\u67d0\u4e00\u4e2a\u6307\u5b9a\u7684\u5546\u4e1a\u6216\u5546\u4e1a\u7684\u90e8\u5206\u8fdb\u884c\u4f30\u503c\u5e76\u786e\u5b9a\u5176\u5546\u4e1a\u4ef7\u683c\u7684\u5546\u4e1a\u884c\u4e3a\u3002<\/span><\/b><\/span><\/div>\n
\n<\/div>\n
\n3.2.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u7684\u5730\u4f4d\u4e0e\u4f5c\u7528<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u662f\u5546\u4e1a\u4f5c\u4e3a\u4e00\u79cd\u7279\u6b8a\u5546\u54c1\u8fdb\u884c\u4e70\u5356\u548c\u4ea4\u6362\u7684\u57fa\u7840<\/span><\/b>\u3002\u5546\u4e1a\u8bc4\u4f30\u662f\u5546\u4e1a\u53d1\u5c55\uff0c\u5546\u4e1a\u96c6\u6210\uff0c\u5546\u4e1a\u4ea4\u6362\u548c\u5546\u4e1a\u8f6c\u53d8\u6240\u5fc5\u9700\u8fdb\u884c\u7684\u4e00\u9879\u5de5\u4f5c\u3002\u5546\u4e1a\u8bc4\u4f30\u4e5f\u662f\u5546\u4e1a\u7ecf\u8425\u8005\u548c\u6240\u6709\u8005\u5bf9\u5546\u4e1a\u7ecf\u8425\u4e1a\u7ee9\u8fdb\u884c\u5168\u9762\u81ea\u6211\u8bc4\u5224\u7684\u4e00\u79cd\u624b\u6bb5\u3002\u5546\u4e1a\u8bc4\u4f30\u4e5f\u662f\u5bf9\u5546\u4e1a\u5b9e\u65bd\u4ef7\u503c\u7ba1\u7406\u7684\u4e00\u4e2a\u5fc5\u8981\u6761\u4ef6\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u5b9a\u4e49<\/span><\/b>[3]<\/span><\/sup><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u5e94\u5f53\u5b9a\u4e49\u4e3a\u5bf9\u4e00\u4e2a\u5546\u4e1a\u8fdb\u884c\u8bc4\u4f30\u65f6\u6240\u5305\u542b\u7684\u8bc4\u4f30\u5185\u5bb9\uff0c\u8bc4\u4f30\u8303\u56f4\u53ca\u6240\u4f7f\u7528\u7684\u8bc4\u4f30\u65b9\u6cd5\u7684\u96c6\u5408\u3002<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n3.4.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u65b9\u6cd5\u7684\u5b9a\u4e49<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u65b9\u6cd5\u5e94\u5f53\u5b9a\u4e49\u4e3a\u5bf9\u4e00\u4e2a\u5546\u4e1a\u8fdb\u884c\u8bc4\u4f30\u65f6\u9488\u5bf9\u67d0\u4e00\u4e2a\u5c42\u9762\u7684\u4ef7\u503c\u7684\u8ba1\u7b97\u65b9\u6cd5\u3002<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n3.5.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u548c\u8bc4\u4f30\u65b9\u6cd5\u7684\u5173\u7cfb<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u5e94\u5f53\u662f\u7edf\u4e00\u7684\u548c\u552f\u4e00\u7684<\/span><\/b>\uff0c\u5bf9\u4e8e\u4e00\u4e2a\u5546\u4e1a\u7684\u4e0d\u540c\u5c42\u9762\u7684\u5546\u4e1a\u8bc4\u4f30\u65b9\u6cd5\u53ef\u4ee5\u662f\u4e0d\u540c\u7684\uff0c\u4e5f\u5c31\u662f\u8bf4\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u53ef\u4ee5\u5305\u542b\u591a\u79cd\u4e0d\u540c\u7684\u8bc4\u4f30\u65b9\u6cd5\u3002\u9488\u5bf9\u540c\u4e00\u4e2a\u5546\u4e1a\u5c42\u9762\u7684\u8bc4\u4f30\u65b9\u6cd5\u5e94\u5f53\u5c3d\u91cf\u662f\u76f8\u540c\u7684\uff0c\u5728\u5408\u7406\u6027\u4e3a\u5927\u5bb6\u6240\u63a5\u53d7\u7684\u60c5\u51b5\u4e0b\uff0c\u9488\u5bf9\u540c\u4e00\u4e2a\u5546\u4e1a\u5c42\u9762\u7684\u8bc4\u4f30\u65b9\u6cd5\u4e5f\u53ef\u4ee5\u662f\u4e0d\u5c3d\u76f8\u540c\u7684\uff0c\u4f8b\u5982\uff1a\u884c\u4e1a\u7684\u5dee\u5f02\u6027\u6240\u5bfc\u81f4\u7684\u8bc4\u4f30\u65b9\u6cd5\u7684\u5dee\u5f02\u6027\uff0c\u76c8\u5229\u589e\u957f\u7279\u6027\u6240\u5bfc\u81f4\u7684\u8bc4\u4f30\u65b9\u6cd5\u7684\u5dee\u5f02\u6027\uff0c\u7b49\u7b49\u3002\u540c\u4e00\u4e2a\u5546\u4e1a\u5c42\u9762\u7684\u8bc4\u4f30\u65b9\u6cd5\u7684\u517c\u5bb9\u6027\u95ee\u9898\u53ef\u4ee5\u4f9d\u636e\u5546\u4e1a\u8bc4\u4f30\u6846\u67b6<\/b>\u6765\u9010\u6b65\u5b8c\u5584\u548c\u53d1\u5c55\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.6.                 
\n<\/span><\/span><\/span><\/b>\u73b0\u6709\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u548c\u65b9\u6cd5<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5c31\u5f53\u524d\u7684\u5f62\u52bf\u6765\u8bb2\uff0c\u5546\u4e1a\u8bc4\u4f30\u6709\u4e0d\u540c\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f<\/span>[1]<\/span><\/sup>\u6765\u5b9e\u73b0\u7684\u3002\u7edf\u4e00\u7684\u552f\u4e00\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u5e76\u672a\u6709\u4eba\u63d0\u51fa\u3002\u76ee\u524d\u7684\u5546\u4e1a\u8bc4\u4f30\u65b9\u6cd5\u4e3b\u8981\u6709\u4ee5\u4e0b\u51e0\u79cd\uff1a<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.6.1.              
\n<\/span><\/span><\/span><\/b>\u57fa\u4e8e\u8d44\u4ea7\uff08\u6216\u6210\u672c\uff09\u7684\u65b9\u6cd5<\/span><\/b><\/span><\/b><\/div>\n
\n3.6.2.              
\n<\/span><\/span><\/span><\/b>\u57fa\u4e8e\u5e02\u573a\u7684\u65b9\u6cd5<\/span><\/b><\/span><\/b><\/div>\n
\n3.6.3.              
\n<\/span><\/span><\/span><\/b>\u57fa\u4e8e\u6536\u5165\u7684\u65b9\u6cd5<\/span><\/b><\/span><\/b><\/div>\n
\n3.6.4.              
\n<\/span><\/span><\/span><\/b>\u98ce\u9669\u6295\u8d44\u65b9\u6cd5<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n2.  
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n3.1.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u4ea4\u6613\u7684\u57fa\u672c\u539f\u5219<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u4ea4\u6613\u7684\u57fa\u672c\u539f\u5219\u5c31\u662f\u540c\u503c\u5546\u54c1\u53ef\u4ea4\u6362<\/span><\/b>\u3002\u57fa\u4e8e\u6b64\u539f\u5219\uff0c\u6211\u8ba4\u4e3a\u5546\u4e1a\u8bc4\u4f30\u7684\u6a21\u5f0f\u5e94\u5f53\u53ea\u6709\u4e00\u4e2a\uff0c\u8fd9\u5c31\u662f\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.2.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027\u5c31\u662f\u6307\u6240\u6709\u7684\u5546\u4e1a\u8bc4\u4f30\u90fd\u5e94\u5f53\u8fd0\u7528\u540c\u4e00\u4e2a\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u3002<\/span><\/b>\u56e0\u4e3a\u53ea\u6709\u8fd9\u6837\u624d\u80fd\u591f\u4fdd\u8bc1\u6240\u6709\u7684\u5546\u4e1a\u8bc4\u4f30\u7684\u7ed3\u679c\u662f\u53ef\u6bd4\u8f83\u7684\uff0c\u624d\u80fd\u591f\u4fdd\u8bc1\u5546\u4e1a\u4ea4\u6613\u7684\u516c\u5e73\u6027\u3002\u4e0d\u540c\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u6240\u8bc4\u4f30\u51fa\u6765\u7684\u7ed3\u679c\u662f\u65e0\u6cd5\u6bd4\u8f83\u7684\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u552f\u4e00\u6027\u7684\u610f\u4e49<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027\u786e\u5b9a\u4e86\u5546\u4e1a\u7684\u53ef\u6bd4\u8f83\u6027\uff0c\u4fdd\u8bc1\u4e86\u5546\u4e1a\u4ea4\u6613\u7684\u516c\u5e73\u6027\u3002\u8fd9\u5c31\u50cf\u786e\u5b9a\u7269\u4f53\u7684\u91cd\u91cf\u4e00\u6837\uff0c\u5ea6\u91cf\u8861\u7684\u6807\u51c6\u5e94\u5f53\u662f\u7edf\u4e00\u7684\uff0c\u4e0d\u540c\u7684\u5ea6\u91cf\u8861\u5355\u4f4d\u5e94\u5f53\u53ea\u6709\u4e00\u4e2a\u6362\u7b97\u6807\u51c6\u3002\u56e0\u6b64\uff0c\u786e\u5b9a\u7edf\u4e00\u7684\u552f\u4e00\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u5bf9\u4e8e\u5546\u4e1a\u8fd9\u79cd\u7279\u6b8a\u5546\u54c1\u7684\u4ea4\u6362\uff08\u4ea7\u6743\u4ea4\u6613\uff09\u5177\u6709\u975e\u5e38\u91cd\u8981\u7684\u610f\u4e49\u3002\u7edf\u4e00\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u610f\u4e49\u7b49\u540c\u4e8e\u7edf\u4e00\u5ea6\u91cf\u8861\u7684\u6807\u51c6<\/b>\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.  
\n<\/span><\/span><\/span><\/b>\u5907\u6218\u8bc4\u4f30\u6a21\u5f0f<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n3.1.                 
\n<\/span><\/span><\/span><\/b>\u73b0\u6709\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u5f0a\u7aef<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u73b0\u6709\u7684\u5404\u79cd\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u5747\u5177\u6709\u5c40\u90e8\u5546\u4e1a\u8bc4\u4f30<\/b>\u7684\u610f\u4e49\uff0c\u90fd\u662f\u5177\u6709\u5c40\u9650\u6027\u7684\uff0c\u4e0d\u80fd\u591f\u5b8c\u5168\u4f53\u73b0\u6240\u8bc4\u4f30\u5546\u4e1a\u7684\u5168\u90e8\u4ef7\u503c\u3002\u5229\u7528<\/span>P\/E<\/span><\/b>\u503c\u6765\u6765\u786e\u5b9a\u5546\u4e1a\u7ec8\u70b9\u4ef7\u503c\u662f\u4e3b\u89c2\u7684<\/b>\uff0c\u6ca1\u6709\u4f9d\u636e\u7684\uff0c\u5176\u53ef\u80fd\u5e26\u6765\u7684\u8bef\u5dee\u662f\u500d\u4e58\u7684\uff0c\u662f\u4e0d\u53ef\u63a5\u53d7\u7684\u3002\u5229\u7528\u591a\u4e2a\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u8bc4\u4f30\u7ed3\u679c\u8fdb\u884c\u52a0\u6743\u5904\u7406<\/b>\u7684\u65b9\u5f0f\u662f\u4e3b\u89c2\u7684<\/b>\uff0c\u6ca1\u6709\u4f9d\u636e\u7684\uff0c\u56e0\u6b64\u662f\u4e0d\u79d1\u5b66\u7684\uff0c\u662f\u4e0d\u53ef\u63a5\u53d7\u7684\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.2.                 
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u552f\u4e00\u6027\u7684\u57fa\u7840<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027\u662f\u7531\u5546\u4e1a\u672c\u8eab\u7684\u5171\u6027\u6240\u786e\u5b9a\u7684\uff0c\u8fd9\u5c31\u662f\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u552f\u4e00\u6027\u7684\u5185\u5728\u7684\u57fa\u7840\u3002\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u552f\u4e00\u6027\u7684\u5916\u5728\u57fa\u7840\u5305\u62ec\u5546\u4e1a\u7684\u666e\u904d\u89c4\u5219\u548c\u5171\u540c\u9700\u6c42\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n<\/div>\n
\n3.2.1.                    
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u7684\u5171\u540c\u7279\u5f81<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u7684\u5171\u540c\u7279\u5f81\u5305\u62ec\uff1a<\/span><\/span><\/div>\n
\n<\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u73b0\u5b9e\u62e5\u6709\u4e00\u5b9a\u7684\u6280\u672f\uff0c\u8bbe\u65bd\uff0c\u8d22\u529b\u548c\u4eba\u529b\u8d44\u6e90\uff08\u73b0\u5b9e\u8d44\u6e90\u7279\u5f81<\/b>\uff09<\/span><\/span><\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u73b0\u5b9e\u53ef\u80fd\u62e5\u6709\u4e00\u5b9a\u7684\u76c8\u5229\uff08\u73b0\u5b9e\u76c8\u5229\u7279\u5f81<\/b>\uff09<\/span><\/span><\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u53ef\u80fd\u5177\u6709\u7a33\u5b9a\u7684\u76c8\u5229\u6216\u589e\u957f\u7684\u76c8\u5229\uff08\u76c8\u5229\u589e\u957f\u7279\u5f81<\/b>\uff09<\/span><\/span><\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u53ef\u80fd\u5177\u6709\u7a33\u5b9a\u7684\u4e1a\u52a1\u6216\u6269\u5f20\u7684\u4e1a\u52a1\uff08\u8d44\u6e90\u6269\u5f20\u7279\u5f81<\/b>\uff09<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.2.2.                    
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u7684\u666e\u904d\u89c4\u5219<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u53ef\u6bd4\u6027<\/span><\/b>\uff1a\u5546\u4e1a\u4ea4\u6613\u8981\u6c42\u540c\u503c\u5546\u54c1\u662f\u53ef\u4ee5\u76f8\u6bd4\u8f83\u7684<\/span><\/span><\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u516c\u5e73\u6027<\/span><\/b>\uff1a\u5546\u4e1a\u4ea4\u6613\u8981\u6c42\u5546\u54c1\u7684\u4ea4\u6362\u662f\u516c\u5e73\u7684<\/span><\/span><\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u666e\u904d\u6027<\/span><\/b>\uff1a\u5546\u4e1a\u4ea4\u6613\u7684\u53ef\u6bd4\u6027\u548c\u516c\u5e73\u6027\u5e94\u5f53\u662f\u9002\u7528\u4e8e\u4efb\u4f55\u5546\u4e1a\u7684<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.2.3.                    
\n<\/span><\/span><\/span><\/b>\u5546\u4e1a\u7684\u5171\u540c\u9700\u6c42<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u7edf\u4e00\u6027<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u4e16\u754c\u4e0a\u6ca1\u6709\u4efb\u4f55\u4e00\u4e2a\u5546\u4e1a\u53ef\u4ee5\u8bf4\u662f\u4e0d\u53ef\u4ee5\u88ab\u8bc4\u4f30\u7684\uff0c\u5b8c\u7f8e\u7684\u5546\u4e1a\u53ef\u4ee5\u88ab\u8bc4\u4f30\uff0c\u4e0d\u5b8c\u7f8e\u7684\u5546\u4e1a\u4e00\u6837\u53ef\u4ee5\u88ab\u540c\u4e00\u4e2a\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u6765\u8bc4\u4f30\u3002\u8fd9\u5c31\u662f\u5546\u4e1a\u6a21\u5f0f\u7684\u7edf\u4e00\u6027\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n\"*\"     
\n<\/span><\/span><\/span>\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u901a\u4fd7\u6027<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u4e0d\u5e94\u5f53\u662f\u9ad8\u6df1\u83ab\u6d4b\u7684\u7384\u5b66\u6216\u9ad8\u80fd\u7269\u7406\u5b66\uff0c\u5546\u4e1a\u662f\u4eba\u6240\u5171\u77e5\u7684\uff0c\u56e0\u6b64\uff0c\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u4e5f\u5e94\u5f53\u662f\u6613\u4e8e\u5927\u4f17\u6240\u7406\u89e3\u7684\uff0c
\n\u8fd9\u5c31\u662f\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u901a\u4fd7\u6027\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.                 
\n<\/span><\/span><\/span><\/b>\u5907\u6218\u6a21\u5f0f<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u6839\u636e\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u552f\u4e00\u6027\u7684\u5916\u5728\u57fa\u7840\uff0c\u4f9d\u636e\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u552f\u4e00\u6027\u7684\u5185\u5728\u57fa\u7840\uff0c\u5efa\u7acb\u7edf\u4e00\u7684\u552f\u4e00\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u662f\u53ef\u80fd\u7684\u3002
\n\u57fa\u4e8e\u6b64\uff0c\u6211\u63d0\u51fa\u4e8b\u5b9e\u52a0\u589e\u957f\u8bc4\u4f30\u6a21\u5f0f\uff0c\u5373\u5907\u6218\u6a21\u5f0f<\/b>\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.1.                    
\n<\/span><\/span><\/span><\/b>\u4e8b\u5b9e\u52a0\u589e\u957f\u8bc4\u4f30\u6a21\u5f0f<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u4e8b\u5b9e\u52a0\u589e\u957f\u8bc4\u4f30\u6a21\u5f0f\u5305\u542b\u4e24\u4e2a\u90e8\u5206\uff0c \u4e8b\u5b9e\u90e8\u5206<\/b>\u5c31\u662f\u9488\u5bf9\u4e00\u4e2a\u5546\u4e1a\u7684\u73b0\u5b9e\u7684\u8d44\u6e90\u7279\u5f81\u548c\u73b0\u5b9e\u7684\u76c8\u5229\u7279\u5f81<\/b>\u800c\u8fdb\u884c\u7684\u8bc4\u4f30\uff0c\u589e\u957f\u90e8\u5206<\/b>\u5c31\u662f\u5bf9\u4e00\u4e2a\u5546\u4e1a\u7684\u76c8\u5229\u589e\u957f\u7279\u5f81\u548c\u8d44\u6e90\u6269\u5f20\u7279\u5f81<\/b>\u800c\u8fdb\u884c\u7684\u8bc4\u4f30\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n\u4e8b\u5b9e\u90e8\u5206\u7684\u8bc4\u4f30\u662f\u6bd4\u8f83\u5bb9\u6613\u7406\u89e3\u7684\uff0c\u4e5f\u662f\u53ef\u4ee5\u76f8\u5bf9\u7684\u5f97\u5230\u6bd4\u8f83\u5ba2\u89c2\u7684\u8bc4\u4f30\u7ed3\u679c\u7684\u3002\u73b0\u5b9e\u7684\u8bb8\u591a\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u5747\u5c5e\u4e8e\u6b64\u90e8\u5206\u7684\u8bc4\u4f30\uff0c\u4f8b\u5982\uff1a\u57fa\u4e8e\u8d44\u4ea7\uff08\u6216\u6210\u672c\uff09\u7684\u65b9\u6cd5\uff0c\u57fa\u4e8e\u6536\u5165\u7684\u65b9\u6cd5\uff0c\u7b49\u7b49\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n\u589e\u957f\u90e8\u5206\u7684\u8bc4\u4f30\u76f8\u5bf9\u6765\u8bb2\u662f\u4e0d\u6613\u7406\u89e3\u7684\u6216\u63a5\u53d7\u7684\u3002\u7136\u800c\uff0c\u76c8\u5229\u7684\u589e\u957f\u548c\u8d44\u6e90\u7684\u6269\u5f20\u5374\u662f\u5546\u4e1a\u7684\u672c\u8d28\uff0c\u8fd9\u662f\u4e0d\u96be\u7406\u89e3\u7684\u3002\u5f53\u7136\uff0c\u6bcf\u4e00\u4e2a\u5546\u4e1a\u7684\u76c8\u5229\u589e\u957f\u7279\u5f81\u548c\u8d44\u6e90\u6269\u5f20\u7279\u5f81\u662f\u4e0d\u4e00\u6837\u7684\u3002
\n\u8fd9\u91cc\u4e3b\u8981\u6709\u4e09\u79cd\u589e\u957f\u7c7b\u578b\uff0c\u4e00\u79cd\u662f\u5e73\u884c\u589e\u957f<\/b>\uff0c\u4e00\u79cd\u662f\u66f2\u7ebf\u589e\u957f<\/b>\uff0c\u4e00\u79cd\u662f\u66f2\u7ebf\u840e\u7f29\uff08\u8d1f\u589e\u957f\uff09<\/b>\u3002 \u66f2\u7ebf\u589e\u957f\u4e2d\u53ef\u80fd\u4f1a\u5305\u542b\u51e0\u4f55\u66f2\u7ebf\u589e\u957f<\/b>\u7684\u60c5\u5f62\u3002\u4f8b\u5982\uff1a\u79bb\u6563\u7684\u996e\u98df\uff0c\u96f6\u552e\u5e97\u7b49\u5546\u4e1a\u7684\u589e\u957f\u5c31\u5c5e\u4e8e\u5e73\u884c\u589e\u957f\u7c7b\u578b\uff1b\u8fde\u9501\u5e97\u5546\u4e1a\u7684\u589e\u957f\u5c31\u5c5e\u4e8e\u66f2\u7ebf\u589e\u957f\u7c7b\u578b\uff1b\u800c\u67d0\u4e9b\u4e92\u8054\u7f51\u4f01\u4e1a\u5728\u67d0\u4e9b\u9636\u6bb5\u5c31\u5c5e\u4e8e\u51e0\u4f55\u66f2\u7ebf\u589e\u957f\u7c7b\u578b\uff1b\u67d0\u4e9b\u7f3a\u4e4f\u7ade\u4e89\u529b\u4f01\u4e1a\u5728\u67d0\u4e9b\u9636\u6bb5\u5c31\u5c5e\u4e8e\u66f2\u7ebf\u840e\u7f29\u7c7b\u578b\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n\u6709\u4eba\u4e00\u5b9a\u4f1a\u8bf4\uff0c\u4e00\u4e2a\u5546\u4e1a\u7684\u589e\u957f\u90e8\u5206\u7684\u8bc4\u4f30\u662f\u5f88\u96be\u5ba2\u89c2\u7684\u52a0\u4ee5\u786e\u5b9a\u7684\u3002\u5176\u5b9e\u4e0d\u7136\u3002\u4e00\u4e2a\u5546\u4e1a\u7684\u589e\u957f\u90e8\u5206\u9996\u5148\u51b3\u5b9a\u4e8e\u8be5\u5546\u4e1a\u7684\u4e8b\u5b9e\u90e8\u5206\uff08\u5373\u73b0\u5b9e\u7684\u8d44\u6e90\u7279\u5f81\u548c\u73b0\u5b9e\u7684\u76c8\u5229\u7279\u5f81\uff09\u3002\u5176\u6b21\uff0c\u4e00\u4e2a\u5546\u4e1a\u7684\u589e\u957f\u90e8\u5206\u51b3\u5b9a\u4e8e\u8be5\u5546\u4e1a\u6240\u5c5e\u4e8e\u7684\u5e02\u573a\u7684\u53d1\u5c55\u524d\u666f\uff0c\u7ade\u4e89\u5f62\u6001\u3002\u8fd9\u4e9b\u56e0\u7d20\u90fd\u53ef\u4ee5\u4f7f\u5f97\u5bf9\u5546\u4e1a\u589e\u957f\u90e8\u5206\u7684\u8bc4\u4f30\u5c3d\u53ef\u80fd\u7684\u5ba2\u89c2\u3002\u8be5\u5546\u4e1a\u7684\u5e02\u573a\u7ade\u4e89\u5730\u4f4d\u662f\u5f71\u54cd\u5176\u589e\u957f\u90e8\u5206\u8bc4\u4f30\u7684\u4e00\u4e2a\u4e3b\u8981\u56e0\u7d20\u3002\u8be5\u5546\u4e1a\u7684\u5e02\u573a\u7ade\u4e89\u5730\u4f4d\u5c5e\u4e8e\u8be5\u5546\u4e1a\u7684\u8d44\u6e90\u7279\u5f81\u7684\u4e00\u79cd\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n\u7efc\u4e0a\u6240\u8ff0\uff0c\u4e8b\u5b9e\u52a0\u589e\u957f\u8bc4\u4f30\u6a21\u5f0f\u5e94\u5f53\u662f\u5177\u6709\u666e\u904d\u610f\u4e49\u7684\uff0c\u8f83\u4e3a\u5ba2\u89c2\u7684\u4e00\u79cd\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u3002\u7531\u4e8e\u8fd9\u79cd\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u662f\u5efa\u7acb\u5728\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u552f\u4e00\u6027\u7684\u5185\u5728\u57fa\u7840\u4e4b\u4e0a\u7684\uff0c\u56e0\u6b64\uff0c\u5b83\u4e5f\u5e94\u5f53\u662f\u552f\u4e00\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.2.                    
\n<\/span><\/span><\/span><\/b>\u4e8b\u5b9e\u90e8\u5206\u7684\u8bc4\u4f30<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u4e8b\u5b9e\u90e8\u5206\u7684\u8bc4\u4f30\u53ef\u4ee5\u5206\u4e3a\u4e24\u4e2a\u90e8\u5206\uff1a\u73b0\u5b9e\u8d44\u6e90\u7684\u8bc4\u4f30\u548c\u73b0\u5b9e\u76c8\u5229\u7684\u8bc4\u4f30<\/b>\u3002\u5b83\u662f\u4e00\u4e2a\u5546\u4e1a\u5728\u65f6\u95f4\u65ad\u9762\u4e0a\u7684\u5c42\u6790\u56fe\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.2.1.                       
\n<\/span><\/span><\/span><\/b>\u73b0\u5b9e\u8d44\u6e90\u7684\u8bc4\u4f30<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u73b0\u5b9e\u8d44\u6e90\u7684\u8bc4\u4f30\u5305\u542b\u4e09\u4e2a\u90e8\u5206\uff1a\u6838\u5fc3\u4ef7\u503c\uff0c\u5305\u88c5\u4ef7\u503c\u548c\u529b\u91cf\u4ef7\u503c<\/b>\u3002<\/span><\/span><\/div>\n
\n3.3.2.1.1.   <\/span><\/span><\/span><\/b>\u6838\u5fc3\u4ef7\u503c<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u6838\u5fc3\u4ef7\u503c\u7684\u8bc4\u4f30\u4e3b\u8981\u5305\u542b\u5bf9\u5546\u4e1a\u7684\u6709\u5f62\u8d44\u4ea7<\/b>\u548c\u65e0\u5f62\u8d44\u4ea7<\/b>\u7684\u8bc4\u4f30\uff0c\u4f8b\u5982\uff1a\u54c1\u724c\u8d44\u6e90\uff0c\u6280\u672f\u8d44\u6e90\uff0c\u4ea7\u54c1\u7c7b\u4ea7\u54c1\u8d44\u6e90\uff0c\u670d\u52a1\u7c7b\u4ea7\u54c1\u8d44\u6e90\uff0c\u5ba2\u6237\u8d44\u6e90\uff0c\u7b49\u7b49\u3002\u4f20\u7edf\u7684\u8d44\u4ea7\u6216\u6210\u672c\u8bc4\u4f30\u65b9\u6cd5\u53ef\u4ee5\u5e94\u7528\u4e8e\u6b64\u7c7b\u8bc4\u4f30\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.2.1.2.   <\/span><\/span><\/span><\/b>\u5305\u88c5\u4ef7\u503c<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5305\u88c5\u4ef7\u503c\u7684\u8bc4\u4f30\u5305\u542b\u5bf9\u5546\u4e1a\u7684\u5e02\u573a\u8d44\u6e90\u7684\u8bc4\u4f30\uff0c\u4f8b\u5982\uff1a\u5546\u4e1a\u7684\u5e02\u573a\u7ade\u4e89\u5730\u4f4d\uff0c\u5546\u4e1a\uff0c\u4ea7\u54c1\u6216\u670d\u52a1\u7684\u5e02\u573a\u5ba3\u4f20\u5f62\u6001\uff0c\u7b49\u7b49\u3002\u8fd9\u4e00\u90e8\u5206\u7684\u4ef7\u503c\u8bc4\u4f30\u6709\u5f85\u4f9d\u636e\u5546\u4e1a\u8bc4\u4f30\u6846\u67b6<\/b>\u6765\u9010\u6b65\u5b8c\u5584\u548c\u53d1\u5c55\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.2.1.3.   <\/span><\/span><\/span><\/b>\u529b\u91cf\u4ef7\u503c<\/span><\/b>[2]<\/span><\/sup><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u529b\u91cf\u4ef7\u503c\u7684\u8bc4\u4f30\u5305\u542b\u5bf9\u5546\u4e1a\u7684\u8fd0\u884c\u8d44\u6e90\u7684\u8bc4\u4f30\uff0c\u4f8b\u5982\uff1a\u5546\u4e1a\u4f19\u4f34\uff0c\u5546\u4e1a\u8054\u76df\uff0c\u5546\u4e1a\u7684\u8d5e\u52a9\u8005\uff0c\u5546\u4e1a\u7684\u652f\u6301\u8005\uff0c\u5546\u4e1a\u6587\u4ef6\uff0c\u5546\u4e1a\u5173\u7cfb\uff0c\u7b49\u7b49\u3002\u8fd9\u4e00\u90e8\u5206\u7684\u4ef7\u503c\u8bc4\u4f30\u4e5f\u6709\u5f85\u4f9d\u636e\u5546\u4e1a\u8bc4\u4f30\u6846\u67b6\u6765\u9010\u6b65\u5b8c\u5584\u548c\u53d1\u5c55\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.2.2.                       
\n<\/span><\/span><\/span><\/b>\u73b0\u5b9e\u76c8\u5229\u7684\u8bc4\u4f30<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u73b0\u5b9e\u76c8\u5229\u8bc4\u4f30\u4e3b\u8981\u662f\u5bf9\u5546\u4e1a\u7684\u76c8\u5229\u73b0\u5b9e\u72b6\u51b5\u8fdb\u884c\u8bc4\u4f30\u3002\u4f20\u7edf\u7684\u6536\u5165\u8bc4\u4f30\u65b9\u6cd5\u53ef\u4ee5\u5e94\u7528\u4e8e\u6b64\u7c7b\u8bc4\u4f30\u3002<\/span><\/span><\/div>\n
\n3.3.3.                    
\n<\/span><\/span><\/span><\/b>\u589e\u957f\u90e8\u5206\u7684\u8bc4\u4f30<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u589e\u957f\u90e8\u5206\u7684\u8bc4\u4f30\u53ef\u4ee5\u5206\u4e3a\u4e24\u4e2a\u90e8\u5206\uff1a\u8d44\u6e90\u6269\u5f20\u7684\u8bc4\u4f30\u548c\u76c8\u5229\u589e\u957f\u7684\u8bc4\u4f30<\/b>\u3002\u5b83\u662f\u4e00\u4e2a\u5546\u4e1a\u5728\u9884\u671f\u7684\u53d1\u5c55\u9636\u6bb5\u540e\u7684\u67d0\u4e00\u4e2a\u65f6\u95f4\u65ad\u9762\u4e0a\u7684\u5c42\u6790\u56fe\u3002\u6309\u7167\u73b0\u5728\u7684\u901a\u5e38\u7684\u5b9e\u8df5\uff0c\u8fd9\u4e2a\u9884\u671f\u7684\u53d1\u5c55\u9636\u6bb5\u4e00\u822c\u662f<\/span>5\u5e74<\/span><\/span><\/b>\u3002\u4ee5\u6211\u7684\u89c2\u70b9\uff0c\u8fd9\u4e2a\u9884\u671f\u7684\u5c42\u6790\u56fe\u548c\u4e8b\u5b9e\u90e8\u5206\u7684\u5c42\u6790\u56fe\u662f\u6709\u6240\u4e0d\u540c\u7684\uff0c\u5c24\u5176\u662f\u5728\u8d44\u6e90\u6269\u5f20\u7279\u5f81\u65b9\u9762\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.3.1.                       
\n<\/span><\/span><\/span><\/b> <\/span>\u8d44\u6e90\u6269\u5f20\u7684\u8bc4\u4f30<\/span><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u8d44\u6e90\u6269\u5f20\u7684\u8bc4\u4f30\u5e94\u5f53\u5efa\u7acb\u5728\u8d44\u6e90\u7684\u786e\u5b9a\u6027\u57fa\u7840<\/b>\u4e4b\u4e0a\uff0c\u56e0\u4e3a\u5b83\u6bd5\u7adf\u662f\u5bf9\u672a\u6765\u7684\u4e00\u4e2a\u9884\u6d4b\u3002\u4ee5\u6211\u7684\u89c2\u70b9\uff0c\u8d44\u6e90\u6269\u5f20\u7684\u8bc4\u4f30\u5e94\u4e3b\u8981\u5305\u62ec\u6838\u5fc3\u4ef7\u503c\u4e2d\u7684\u65e0\u5f62\u8d44\u4ea7\u90e8\u5206<\/b>\uff0c \u4f8b\u5982\uff1a\u54c1\u724c\u8d44\u6e90\uff0c\u5ba2\u6237\u8d44\u6e90\uff0c\u6280\u672f\u8d44\u6e90\uff0c\u7b49\u7b49\u3002\u6709\u5f62\u8d44\u4ea7\u8d44\u6e90\uff0c\u5305\u88c5\u4ef7\u503c\u548c\u529b\u91cf\u4ef7\u503c\u7684\u6269\u5f20\u662f\u4e0d\u786e\u5b9a\u7684\uff0c\u5728\u5bf9\u7b49\u516c\u5e73\u7684\u539f\u5219<\/b>\u4e0b\uff0c\u53ef\u4ee5\u4e0d\u4e88\u8003\u8651\u3002\u8fd9\u4e00\u90e8\u5206\u7684\u4ef7\u503c\u8bc4\u4f30\u4e5f\u53ef\u4ee5\u4f9d\u636e\u5546\u4e1a\u8bc4\u4f30\u6846\u67b6\u6765\u9010\u6b65\u5b8c\u5584\u548c\u53d1\u5c55\u3002\u73b0\u5b9e\u7684\u65e0\u5f62\u8d44\u4ea7\u7684\u8bc4\u4f30\u65b9\u6cd5\u5747\u53ef\u5e94\u7528\u4e8e\u6b64\u7c7b\u8bc4\u4f30\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n3.3.3.2.                       
\n<\/span><\/span><\/span><\/b>\u76c8\u5229\u589e\u957f\u7684\u8bc4\u4f30<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u76c8\u5229\u589e\u957f\u8bc4\u4f30\u4e3b\u8981\u662f\u5bf9\u5546\u4e1a\u7684\u9884\u671f\u7684\u53d1\u5c55\u9636\u6bb5\u7684\u76c8\u5229\u72b6\u51b5\u8fdb\u884c\u8bc4\u4f30\u3002\u4f20\u7edf\u7684\u6536\u5165\u8bc4\u4f30\u65b9\u6cd5\u53ef\u4ee5\u5e94\u7528\u4e8e\u6b64\u7c7b\u8bc4\u4f30\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n4.   <\/span><\/span><\/span><\/b>\u603b\u7ed3<\/span><\/b><\/span><\/b><\/div>\n
\n<\/div>\n
\n\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027\u662f\u5546\u4e1a\u5185\u5728\u672c\u8d28\u7279\u5f81\u6240\u51b3\u5b9a\u7684\uff0c\u6211\u6240\u63d0\u51fa\u7684\u4e8b\u5b9e\u52a0\u589e\u957f\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\uff08\u5907\u6218\u6a21\u5f0f\uff09\u53cd\u6620\u4e86\u5546\u4e1a\u7684\u5185\u5728\u672c\u8d28\uff0c\u6ee1\u8db3\u4e86\u5546\u4e1a\u7684\u5916\u5728\u9700\u6c42\uff0c\u56e0\u6b64\u662f\u53ef\u4ee5\u4f5c\u4e3a\u552f\u4e00\u7684\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u3002\u6211\u672c\u4eba\u4e5f\u975e\u5e38\u6b22\u8fce\u4e1a\u5185\u4eba\u5bf9\u6b64\u6a21\u5f0f\u8fdb\u884c\u8fdb\u4e00\u6b65\u7684\u63a2\u8ba8\u3002<\/span><\/span><\/div>\n
\n<\/div>\n
\n[1].
\nhttp:\/\/thebusinessprofessor.com\/business-valuation-overview\/<\/a>
\n<\/span><\/div>\n
\n[2].
\nClinton Lee, <<Ultimate Website Valuation Guide>>, July 29, 2008 http:\/\/www.sitepoint.com\/web-site-valuation-guide\/<\/a><\/span><\/div>\n
\n[3].
\nhttp:\/\/www.valuadder.com\/glossary\/business-valuation-model.html<\/span><\/div>\n
\n<\/div>\n
\n— Beizhan Liu <\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

Economic Wheel \u2013 Economic Theory \u2013 On the Uniqueness of Business Valuation Model – Together on Beizhan Model \u7ecf\u6d4e\u4e4b\u8f6e – \u7ecf\u6d4e\u7406\u8bba \u2013 \u8bba\u5546\u4e1a\u8bc4\u4f30\u6a21\u5f0f\u7684\u552f\u4e00\u6027 – \u517c\u8bba\u5907\u6218\u8bc4\u4f30\u6a21\u5f0f The author summarized the existing business valuation models and methods, and proposed the issue of uniqueness of business valuation model in accordance with the basic principles of business. The author […]<\/p>\n","protected":false},"author":2,"featured_media":3601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":3,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-1600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-birdview"],"_links":{"self":[{"href":"https:\/\/beizhanliu.com\/index.php?rest_route=\/wp\/v2\/posts\/1600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beizhanliu.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beizhanliu.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beizhanliu.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/beizhanliu.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1600"}],"version-history":[{"count":1,"href":"https:\/\/beizhanliu.com\/index.php?rest_route=\/wp\/v2\/posts\/1600\/revisions"}],"predecessor-version":[{"id":4978,"href":"https:\/\/beizhanliu.com\/index.php?rest_route=\/wp\/v2\/posts\/1600\/revisions\/4978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beizhanliu.com\/index.php?rest_route=\/wp\/v2\/media\/3601"}],"wp:attachment":[{"href":"https:\/\/beizhanliu.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beizhanliu.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beizhanliu.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}