The Research Of Listed Companies Valuation Based On RVG Model

With the development of modern market economy and the stepwise perfection of capital markets, and the prosperity of the property right exchange market, companies' value-based management has received great attention; corporate valuation has been the focus among financial academics and practices. In the developed capitalist countries the theory and methods were studied. But our market economy system is not perfect, and it was later for our country to propose and apply the concept of corporate valuation, and the corporate management and strategic business are related lagged. The theory and methods of corporate valuation are on the basic of the foreign research, and the corporate valuation has not been perfect and mature.According to the classic corporate valuation theory, this paper introduces the relevant theories of the business valuation, and introduces growth and profitability that are the two major factors affecting business value, and builds a corporate valuation model computing the value of the RVG (The Relative Value of Growth) Model. This is a relatively compared corporate valuation method; its object is computing and analyzing the RVG of the enterprises, and comparing the industry. We choose the older industry of machinery and equipment as the evaluation objects, and have an empirical study and verify the application in business valuation. The desired contribution is to make some beneficial exploration. The results show that the RVG can be used in operational and strategic management of a company.After consulting on much reference on research theory, this paper gets a study of and improvement for the choice of the relative parameters and this model is applied in the corporate valuation, and builds a corporate valuation model which is suited to our Chinese listed companies. For the computation and building of the whole model, it can be improved. In the author's opinion, this model has huge development space in the enterprises corporate valuation management and operational strategic management.