| EVA, which was set up In the 1980s as an evaluating indicator of enterprices performance, has been widely applied at home and abroad.It develops gradually from an evaluating indicator of Enterprises performance to methods of corporate value assessment.In this paper, forestry enterprises is the object of my study.It is studied about the whole value of evaluating index of forestry enterprises in the method of EVA:it is inherent value of forestry enterprises determined by the gain ability of enterprises on the assumption that Enterprises keep running. Base on the EVA theories and methods of research on enterprices value assessment, as well as the direct proportional between EVA and the value of enterprises, EVA is introduced into enterprise value assessment, the model of value assessment in exploration is established step by step and formed a system on the EVA basis.Then it is study about forestry enterprises value assessment in the way of EVA, and the result is obtained that the adjusted items calculated by EVA in forestry enterprises include the"lay-aside"of forestry asset before canopy is grown completely, Loan interest charges of forestry planting and ecological value allowance,then developed the calculation of EVA in forestry enterprises. At the last part of the paper, a forestry enterprise which get listed in Shanghai's stock exchanges is taken as a case.Then, Study its Enterprises value assessment in the way of EVA.Base on the annual reports published termly by companies listed on stock markets, It is easily to obtain the related information, list practicable items of discovery, show the calculation process of EVA during the past several years, predicate the future value of EVA, and make an appraisal of the value of enterprises.It is hoped that practically instructional advices can be provided in order to evaluate the profit and value of companies, and improve modern forestry enterprises through the study on EVA and its application in forestry enterprises. |
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