Asset valuation theory and standards system in our country

Author: Zhang Yanmin
Publisher:
Publish Date: 2001-06-01
Features: This book is divided into three main parts: the first part is the origin and development of asset valuation (Chapter); the second part is the research on the theoretical system of asset valuation (Chapters 2 to 4); the third part is the research and design of the asset valuation standards system (Chapters 5 to 6). The focus and purpose of this book are to establish the theoretical system and standards system of asset valuation. However, to demonstrate the development of the asset valuation industry, understand the current situation, and identify existing problems, it is necessary to first study the origin and development of asset valuation. Chapter focuses on elaborating this aspect. Chapter explores the origin and development of asset valuation worldwide, including the organizational development and activities of the global valuation industry, the establishment of valuation standards in various countries, the characteristics and trends of government management, and presents a comprehensive analysis of the origin and development of global asset valuation. On this basis, it also analyzes the development status and existing problems of asset valuation in China. This chapter proposes that the development of the global asset valuation industry can be broadly divided into two major stages: the spontaneous individual experience-based valuation stage and the industry-based scientific valuation stage. During the industry-based scientific valuation stage, it is further divided into several development periods: the 1950s, when many countries were establishing the asset valuation industry; the 1960s, when most governments began to regulate the industry; the 1970s, when valuation organizations in Europe and some countries began to move toward collaboration; the 1980s, when the industry experienced rapid development, leading to broader collaboration, the establishment of the International Valuation Standards Committee, and the release of international and U.S. valuation standards; and the 1990s, when the valuation industry in socialist and some former socialist countries in Eastern Europe rapidly developed, valuation businesses rapidly shifted toward comprehensive valuation represented by corporate valuation, financial securities, and other forms, and many developing countries integrated into the global valuation organizations. This chapter also studies the development of asset valuation in China, analyzes the achievements and existing problems, and points out that the lack of theoretical and standards guidance, as well as organizational irrationality, have constrained the development of asset valuation in China.