| With the rapid development of social economy, the economic activities such as theenterprise investment, mergers, equity transfer happen a lot at the same time. Thedemand for enterprise value assessment is becoming more and more valued, and allkinds of enterprise value assessment method was introduced into our country. InJanuary2010, the second revision by the state-owned assets supervision andadministration under the state council <head of the central enterprise operatingperformance evaluation interim measures> started formally. The revision methodsummarizes the previous economic value added (EVA) pilot work, and fully recognizedeconomic value added role on the assessment of enterprise performance. At home, somelisted companies also began to increase the economic value added as evaluation indexof enterprise overall profitability.This paper evaluates the enterprise overall financial and non-financial value undersuch circumstance, and strive to build a various factors comprehensive evaluationsystem for enterprise as a whole theory model.The goal of modern enterprise financial management is to maximize the enterprisevalue. EVA theory model which makes this goal as breakthrough point do an overallevaluation of enterprise financial value. The article compared advantages anddisadvantages of three kinds of enterprise value assessment methods in China which arecost method, the relative valuation method and income method. Through comparativeanalysis, the income method is more suitable to do the enterprise value evaluation intoday’s market economy period. Then the article used economic value added model asthe basic model, and mainly introduced the basic theory, assumptions, and calculationmethod of EVA model. Because the EVA model didn’t consider the enterprisenon-financial factors influence on corporate value, the writer reformed the EVA modelin this paper, joined the non-financial factors quantitative evaluation index, used the analytic hierarchy process (ahp) to determine the weight of each index, finallyconcluded the comprehensive score of overall enterprise value. The modified modelapplied to the ABC real estate enterprise and proved to be operable. |
PDF Full Text Request