Research On The Valuation And Value Creation Of Listed Agricultural Companies In China

The principal goal of modern enterprise financial management is to maximize enterprise value, to realize this goal, you need to measure the enterprise value and the ability to create value for enterprises effectively and form the concept of value management which with value evaluation and value creation as two cores to guide the business activities of enterprises and sustainable development. In this research, we introduce EVA into agricultural listed companies as the corporate value creation metrics, analyze the capital making capacity of listed agricultural companies quantitatively in the use of empirical research methods and with valuation and value creation capacity as the main objects, and then analyze and interprete the results, digging a deep impact factors of the EVA to find a method to enhance the value of listed agricultural companies and the ability to create value. The study is divided into the following sections:The first part is the introduction of indicators of EVA and EVA value assessment theory. Firstly, introduce the theoretical basis of the EVA, including the concept of EVA, the adjustments of EVA and EVA formula. Secondly, build the EVA valuation models, focusing on the three basic value evaluation models:Gordon growth model, two-stage model and three-stage model and their’s use range. Finally, indicate the advantages and limitations of the the EVA index and EVA value assessment model. The second part is the EVA empirical analysis of listed agricultural companies. We selecte32study samples, according to the samples’annual financial data in the year of2007to2011,calculate economic value added (EVA) of each sample in each year, and then analyze the ability to create value of listed agricultural companies quantitatively. According to the empirical results, we then analyze the influential factors of EVA in listed agricultural companies. Finally, explore the path to enhance the value of listed agricultural companies.