| Telecom industry for the flow of information has a very important role in modern society, it drives the flow of information, creates the huge economic and social benefits at the same time. However, due to its unique characteristics, the management for telecom operators is becoming more complex. This article hopes to apply the theory of enterprise value evaluation, and select the appropriate evaluation model, focusing on the perspective of investors, found the development direction of China’s telecom industry.This article first describes the. background and research ideas, and introduces the Harvard financial analysis framework (including strategic analysis, accounting analysis, financial analysis and prospect analysis), in an overview of the enterprise value evaluation method, emphatically introduces the residual income model. Thereafter, the paper uses the Harvard financial analytical framework for assessing the value of China Unicom. First, the article uses more data on the current status for the development of the telecom sector. It predicts the future trends, and analyzes the competitive strategy for China Unicom. Second, combining with China Unicom’s financial statements, the article analyzes the three statements; it also uses the financial ratios from the perspective of profit ability, operation ability and solvency analysis of its operating results. Third, after combining the results of the first two parts, residual income model will be adjusted to calculate the China Unicom’s enterprise value.This article employs the method of case analysis, qualitative and quantitative assessment to calculate China Unicom’s enterprise value. This research method has a reference for the same industry enterprise value assessment, and the selection of some parameters in the research process can also help the business operators to improve its mode of operation and financial strategy. At the same time, for investors, this article contributes to form the right investment strategy. |
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