Study On The Method Of Enterprise Valuation

With the coming of value management era, and valuation theory & method has become the focus, which attracts more attention of people increasingly. Enterprise valuation, which base in modern economy, is the most complex and difficulty operation in valuation of property. It is also the development orientation of valuation of property in future. As our country is under the system of planned economy for a long time, the development of enterprise valuation concept is lateness, and in defect of modern management accumulation, the study for enterprise valuation theory & method has got behind. This paper according to the method of theory and cases analysis, investigating and analyzing the basic theory of enterprise valuation systemic, and finding a proper enterprise valuation method in the condition of our country economy. It wants to make some explore about system of enterprise valuation method.In this paper, through the discussion of concept & characteristic of enterprise, value of enterprise and enterprise valuation and analysis of relative concept about enterprise valuation, make clear the basic orientation. There are two kinds of enterprise valuation, one is for property right alteration, the other is for finance decision-making. With the hypothesis of enterprise valuation, core of valuation decide the choice of valuation method. This paper looks the classic theory of valuation as the basic, introduce some enterprise valuation methods, including cost, market, profit and option methods etc., and make a compare with these methods, considering profit method is more effective than other methods in the condition in our country. Through the analysis about practice of profit method, relating to the condition of enterprise and capital market, make out the thought of using EVA as a king of method of enterprise valuation. Though introduce of concept, characteristic of EVA and the using in enterprise effect appraise, building an model which make EVA as a kind of enterprise valuation method. And then using a case introduce how to use this model and where ought to pay more attention. At last, making a...