A Research Of The Methods Of Corporation Valuation Based On Enterprise Lifecycle

The rapid development of stock market accelerates the stock exchanges from owners to owners. At the same time, the investors become rational; the managers start to pay more attention to the benefits of shareholders; the supervisors begin to norm the market and create a fair circumstance for trading. While the developing of the stock market, the Chinese companies come to establish the modern corporation system which is based on the benefits of the shareholders. The merge and acquisition between corporations also boom.The valuation for corporation play a important role in the transaction between the owners of corporations and in helping managers to accomplish the aim of maximizing the value of stockholders.Though the recent years the Chinese scholars and managers both pay more attention to research the method of corporation valuation, they just translate the research of listed corporation valuation from abroad. The valuation of small and middle scale company is ignored.Because the characteristics of listed corporations are different from the small and middle scale companies in every phase of enterprise lifecycle, this paper researches on the valuation of enterprises based on enterprise lifecycle. The paper also has a study on the valuation of mall and middle scale company and improves the methods of valuation the listed corporation.This paper uses comparison and diagram and the cases to introduce the methods of valuation of the moment and the theory of enterprise lifecycle. Then the paper expounds the limitation of the method of valuation of the moment. Finally, the paper analyzes the choices of the methods of valuation in every phase of the enterprise lifecycle.