China GEM Listed Companies Study Of Invenvestment Vallue

The success of the GEM Listing not only provides a channel of public financing for smalland medium companies, but also provides a new investment platform for our investors.We learnof the GEM experiences and lessons at home and abroad, and strive to avoid the risk of GEMoverseas. Currently , the share issue price of GEM is higher in China, and the company operatingperformance grows unhappily, stock prices rose too fast and so on, so that the GEM stock marketinvestment risk is high.At present, the study on the the GEM risk and investment values is less, it makes the GEMstocks investment irrational behaviors, so that the GEM market shows a strong speculativeatmosphere. This situation is not conducive to keep chinese GEM long-term health andprosperity development. Uphold the value of this investment philosophy that investment valueof the company based that the value of the company, we compared on the company's marketvalue and price and it can be drawn on whether the company has investment value. Through thecollection and collation of the literature, this article will assess the investment value and thecurrent mainstream approach is divided into two main categories: value based on the company'sinvestment value assessment methods and assessment methods based on the investment value ofintegrated assessment methods. Through the full comparison method of valuation of theseinvestments and the advantages and disadvantages of the applicable conditions that the value ofthe investment based on the company valuation method is more suitable for assessment of theinvestment companies listed on GEM value. Using the VaR model to revise the calculationsresults of Shcwartz and Moon model, and finally to equity value of the stock value as the theoryof the firm and establish the GEM investment valuation model.Finally, this article listed Ultrapower company as an example in the sector, using ofcontinuous real options and Monte Carlo method to calculate the model test of the value of thecompany. Using of the VaR model and then make a risk-adjusted value of the company, andultimately calculate the theoretical value of company stock. With the price of the stock marketby compared with the curren tmarket drawn from the theory that Ultrapower company has noinvestment value, and the theoretical value of the company's stock price and the market quitedifferent reasons are analyzed.