The Study On Equity Evaluation Of Listed Firm Of Guangxi Province

With the rapid progress of Capital Market and the listed firms in China, more and more people pay their attention to the firm value evaluation and some fields about firm value related. Based on studying some theories of the predecessors, this text, for the first time, takes all the listed firms of Guangxi province as sample, and evaluates every firm to find their value which is in the period from 2001 to 2006. After that, we analyze the result of the evaluation deeply, and try to find the key factor which influence the firm value.By comparing the different meanings about firm value, we describe the designated meaning of the value in this paper. Through the introduction of the methods and models about firm evaluation, we choose "FCFE" model and calculate all the value of nineteen listed firms in Guangxi province. About the "free cash flow of equity" in the model, we use the prevailing formula ("free cash flow to firm " minus "free cash flow to creditors") to get the date. For the "discount rate" in the model, we use the "CAPM" model to confirm it.Analyzing the firm value and find the factors which influence firm value are focal point of this paper. Static analysis and trend analysis method are used in the analysis process. For exploring the effect on firm value by some factors ,we test them by the method of statistical regression analysis. After all of these, we draw some conclusion from the following aspects: The aggregate performance of listed firm value in Guangxi; The variation trend of equity value of all the listed firms of Guangxi; The relationship between firm scale and firm equity value. The key influencing factors to equity value of listed firm of Guangxi. Finally, based on all the conclusion and taking the real circumstances of the firms into consideration, we propose some constructive measures to the strategy of firm value promotion.