Based On The Private Equity Investment Enterprise Valuation Studies

As a new mode of capital operation of private equity investment, the impact on the world economy growing. With the high-speed development of China economy and integration into the world economy and integration, guidance of government capital transfer to the real economy, has been released in2004and2009, the launch of the gem, and solves the exit channel of PE investment, equity investment has gained rapid development in our country. In particular the introduction of the gem, in attracting high price-earnings ratio, high market price, high to raise funds to "three high" phenomenon, private equity investment flocked to the project are not many PRE-IPO investment market, so as to raise the PE market profit level. With the gem two market value of the stock return and the IPO audit more strictly, it will deviate from the actual value of PE investment boom brought great investment risk for investment company. Therefore, to explore the listing Corporation value assessment and analysis tools of science, is of great significance to resolve the PE investment riskThis paper first reviews the literature development course and current situation of PE industry at home and abroad, analyzes the existing evaluation of PE investment project valuation is not our problem. Field survey and visit the security company, related data collection due diligence security company, carries on the case analysis to the feasibility of investment and stock price. In the multiplier theory based on the price-earnings ratio, the Du Pont financial analysis system are combined, the rate of return on net assets of scientific computing, to judge the enterprise assets operation pattern is light or heavy asset mode of operation; combined earnings per share, judge the price-earnings multiples. In the discounted cash flow valuation method abroad at home do not have the conditions for implementation of the case, PE investment projects currently in operation in early2012to determine the direction of the graduation thesis is an organism, as a specific case, try to set up suitable for PE investment industry in our country has practical and scientific enterprise valuation system.