股东权益价值

但是，如果允许策略性债务违约或对绝对优先权原则偏离，股东权益价值最大化的破产决策将达到与公司价值最大化一致的结果；

But if the strategic default or deviation from absolute priority rule is allowed , the decision that maximizes value of equity will be consistent with one that maximizes corporate value .

企业价值评估的对象是企业整体价值、股东全部权益价值或股东部分权益价值。

The object of business valuation is the value of enterprises as a whole , the value of the stock shares in whole or in part .

因此，在国企改制价值评估实践中如何选择和应用适当的企业价值评估方法，将改制企业国有股东全部权益价值完整地体现出来，成为亟待解决的问题，对此进行较深入的探讨具有现实意义。

Therefore it becomes a critical question on how to choose and apply the appropriate valuation method , to fully reflect the total equity value of state-owned shareholders in the restructuring enterprise .

“壳”作为一种特殊的经济资源，具有多重的价值，具体体现在股权融资价值、股东权益增值价值、无形资产价值、优化资源配置价值和社会贡献价值等几个方面。

As a type of special economic resources , it has multiple values , concretely reflected in such aspects as equity financing , increase in owners'equity , intangible assets , optimization of resource allocation , and social contribution .

企业价值评估是指对评估基准日特定目的下企业整体价值、股东全部权益价值或部分权益价值进行分析、估算并发表专业意见并撰写报告书的行为和过程。

Enterprise value evaluation is a kind of behavior and process , which is to assess the whole enterprise value , shareholders under all rights value or part of the rights in the date of assets evaluation for the specific goals .

第二步，用股东权益的剩余价值除以发行在外的普通股股数以确定普通股每股账面价值。

Second , the number of common shares outstanding to determine book value per common share divides the remaining amount of stockholders ' equity .

公司治理转型背景下，治理目标不再是围绕股东权益或公司价值的最大化展开，已演进成利益相关者的责、权、利均衡。

During the transformation period , the goal of corporation governance has converted from shareholders ' benefit maximum to a balance between stakeholders ' interests , responsibilities and rights .

最后，根据期权理论，企业与股东、债权人的经济关系具有期权的特性，股东权益是基于企业价值的看涨期权。

Finally , according to the option theory , the economic relations between enterprise , shareholder and creditor have the characteristic of the option ; stockholder 's equity is the call option based on enterprise 's value ;