A Study Of Value Assessment Of The Listed Companies On GME Based On The Life Cycle

Since GEM established in2009,it has supported a large number of SMEs, especially high-tech enterprises, which injected fresh blood into China’s economic development. Meanwhile because of its high-tech, high-risk and high-growth and other characteristics, making academics and practitioners on how companies GEM reasonable valuation has been the topic of hot debate continued.Based on the corporate life cycle, I try to establish a reasonable methodology from the theoretical study of the GEM business valuation methods. Researching work done in this paper are:First, I introduce the research background and significance of research status of the paper, found that most of the studies focused on assessing the suitability of a particular method, ignoring the value of the different stages of the life cycle consisting of difference, and thus leads the subject matter hereof; Second, the logic of research ideas from starting, first think about how to determine which phase of the GEM business life cycle. Through its listed companies on GEM market analysis of characteristics, select the applicable quantitative indicators using AHP evaluation phase of the lifecycle of enterprise; Three, to study the assessment methods Selection determined on the basis of the GEM companies on the stage. Made the choice for growing businesses discounted free cash flow analysis and option valuation method;for mature companies directly using the discounted free cash flow method, the recession businesses choose liquidation value method; the final choice of a GEM listed company, its methods and models before applying text analysis methods to verify the reasonableness assessment system construction paper. The main text of the current round of quantitative and qualitative, subjective and objective method of combining GEM enterprise value assessment, the final use case studies to validate the rationality of the model. Thereby making the results more fair and reasonable.