| With the development of China’s capital market and the accelerated securities investment rationalization, analysis enterprise value of listed companies as the main line of investment ideas is becoming more and more be targeted by investors. After experienced all sorts of harvest and lessons, investors become more rational and mature to use their experience to assess investment value of stock investing.Due to the company’s intrinsic value are the overall profits of the combination of enterprise assets in the future, the enterprise owners, managers, and venture capitalists will focus more on the relationship of company’s future earnings, the stock market prices and the enterprise value. But as the volatility of stock market prices, the stakeholders need the enterprise value evaluation and use the result as reference in investment decisions.Based on the enterprise value assessment, can achieve the following two purposes:1. For investors, investment income level will depend on the company’s value. Enterprise value assessment has naturally become the method to choose the shock, which is worth of investing. The evaluation results can help investors find undervalued stock investment opportunities, avoid investment risk, make the right decision and bring a good return.2. For enterprise management personnel, management personnel of performance appraisal and compensation competition mechanism are pegged to the enterprise management situation. If the company management want to keep themselves in the talent market competition force and their own economic interests, they have to attach importance to enterprise management and financial conditions, promote the growing of enterprise value.So how to make the enterprise value assessment effective naturally be a problem worth solving. In fact, at home and abroad has accumulated quite a lot of enterprise value evaluation research ideas and methods, but always have their advantages and disadvantages. In practice in our country, the enterprise value evaluation is a comprehensive service, need professional personnel to judge and estimates the company’s overall economic situation combined with model. Therefore, this article focuses on the key lies in the specific evaluation objects, choose effective and appropriate evaluation ideas and methods to evaluate the enterprise value.Economic globalization brought many opportunities and competition for countries. In recent years, China’s auto industry has firmly established the automobile superpower status. As the backbone of the national economy industry, automobile industry must be in the increasingly fierce competition environment to seek out its own road, in order to enhance the core competitiveness of the enterprise and for the long-term development. After years of continuous development, Changan has the good performance and become one of the leading enterprises of China’s automobile industry. However, investors focus on if its future can continue to maintain a steady rise. In this paper, combining with the characters of the auto industry and the connotation of evaluation methods, be an example of Chongqing Changan automobile co., LTD, explore how to assess the investment value of automobile industry. The research train of thought mainly as follows:First, this paper briefly introduces the principle, method and application scope of the enterprise value evaluation. Through the review, analysis and summarize the existing assets appraisal methods, we choose appropriate three assessment methods, which combined with the actual situation of the auto industry and the company.Then, by applying the method of longitudinal and transverse percentage, this paper analyses the present situation, development the trend of enterprise and get different enterprise evaluation results of intrinsic value by three methods.Finally, combining with advantages and disadvantages of the three evaluation methods, we have finished sensitivity analysis and get the final reasonable valuation and relevant conclusions. |
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