Enterprise Assets Price Set Research In Management Buy-out Of Eastsun Company

The Chinese Management Buy-out is introduced to china in twenty century 90' s. It is recognized as a new way to solve the problem of the vacancy of the state-own assets, the diversify of the property right and inner incentive of the enterprise. But in the process of Management Buy-out, many problem are also arise such as self-buy to self-sale, black-box buy-out operation, illegally occupy state-own assets which lead to a lot of state-own asset flow into private company and individuals. These phenomena in the process of Management Buy-out is accused by many economic scientists and public.This essay suggest a another way to the asset price set of Liaoning Eastsun company which is thought of the most sensitive and difficult factor in the Management Buy-out, and also alter the parameter of the price set model—Discounted Cash-Flow Model to build a proper model for Liaoning Eastsun company.In the Discount Cash-Flow model , the most important parameter is the discounted rate, this essay regard the price-to earnings ratio in mature stock market to that of new market stock market is a better way for adjusting β parameter and then specify the discounted rate in the Discounted Cash-Flow modelLiaoning Eastsun company is a private company in china, this essay explain the whole process of assets price set of this company in their Management Buy-out.