The Value Of The Corporation And Its Evaluation

As the impact of Security Market to community economy life extends increasingly, enterprises, especially the listed companies also become special commodities. So the value of listed companies is attracted by investor and listed companies themselves quickly. Thus the fast developing evaluated method of the value of listed companies is a synthetic and dynamic evaluation course of whole economic value of enterprises.Because the complexity of the value of enterprise, and also because the difference when people carry on the evaluation, so there are various methods of evaluation existing. The main methods contain: the Accounting Value Adjusting System that bases upon Asset, the Compared Evaluated System that bases upon the Market, the Discount of cash flow System that bases upon the Profit. The value of enterprise will be different when using different evaluated methods, because thinking of the methods are different. Many forecasted data have many differences, so the results are different. How to let the result become more real, reduce the subjective impact is a problem that needs to solve. According to the statistics of some professors, in evaluation of value of enterprise in our country at present, Cost Method is used extensively because of its simplicity. But to the development of foreign theories and approval by most of domestic professors, Profit Method will be more important in future. So this article centers on the Method of discount of cash flow, matching with thoughts of various evaluation methods, gathering every theories' superiority, using Index Smooth Method and Dynamic Smooth Method to dismiss the impact stochastic factor, at last using Index Curve or Polynomial Simulating Curve to forecast total cash flow, to reduce the impact of subjective forecast, so that to achieve the research improvement of evaluated system.