Reva-based Company Value Assessment Study

The enterprise value reflects the time value of money and the risk of the company's sustained development capability. And it closely related to corporate stakeholders. Obviously the higher the value of the company the higher return to the stakeholders. And in the effective stock market the value of the company will be reflected in the company's stock price,and the company value of the stock price have a positive correlation.Based on the research of our country and abroad, through theoretical analysis and empirical research methods, and the reva theories will be used in the list company of manufacture.First of all, this paper introduced the domestic and international valuation methods and theories. The main value of the assessment methods are:the ratio of valuation method, discounted cash flow, options pricing and market value sdded method and enterprise value and the mainly related to the theory,efficient market theory, MM theory and asset pricing theory. Through the theory of assessment methods and the analysis of this study I propose the paper's contents and methods.And then, introduce the REVA valuation theory, base on this theory this paper gives several of REVA evaluate the basic model theory, single-stage model, two-stage model and three stage model.Finally, REVA evaluation is applied to listed companies to conduce empirical research. Through the china's listed manufacturing companies of 07-09 years'data, found:1,REVAvalue has a significantly positive correlation with the return on investment shares, better than the price-earning ratio; 2, the company's value which calculated by REVA also has a positive correction of stock price, this indicating our country's market value investing is not completely deviated the value investing.