The Sensitivity Analysis On Influence Factors Of Income Method Evaluates Enterprise Value

With the establishment and development of the modern enterprise system, the flow ofassets between companies becomes increasingly frequent, corporate mergers, stockacquisitions, asset-backed and other economic activities all need the enterprise value as avalue basis, the rationality of the enterprise value also appears especially important. Toimprove the accuracy of the enterprise valuation, evaluation personnel require to conduct acomprehensive analysis about the influencing factors of enterprise value, in order to takeappropriate measures to reduce the risk of these factors in the evaluation practice. In thispaper, income method as the main line to analysis the influence factors of enterprise value,and use sensitivity analysis to calculate the concrete influence degree of various influencefactors, and find out the sensitive factors. The results of this study have positive significancefor assessment staff fully understand the sensitivity of factors affect enterprise valueevaluation result, according to the changes of the sensitivity factors to predict the changetrend of enterprise value, and improve the accuracy of the evaluation results.The main contents are as follows:1. First, this article expounds the basic theory of income approach about enterprisevaluation, defines the enterprise value evaluation, summarizes the characteristics of theenterprise value evaluation, and introduces the income approach.2. Based on the three basic parameters of income approach, this article analyses theinfluence factors of the enterprise value, divides the influence factors into corporate earnings,discount rate and the number of year of the business income, and makes a in-depth andcomprehensive summary about the three major factors affecting.3. This article introduces a common project evaluation methods-sensitivity analysis,applies the sensitivity analysis methods to the analysis of enterprise value factors to analyzethe specific impact of various factors.4.This article uses the specific enterprise value assessment case,through the analysis ofthe various indicators, the influence factors of the enterprise value has been fully reflected,and calculates the ability of the influence of various indicators,finally concludes tthe two factors influencing the enterprise value.