Study On Enterprise Value Valuation Based On EVA

With the establishment and improvement of the socialist market economy,enterprise mergers, restructuring and other economic activities are increasingly frequently in our country. Evaluation is becoming more and more important.We begin to explore more scientific and reasonable methods in the process of theoretical and practical research. The real estate has became one of the important pillars of our national economy, and has made great contribution to sustainable economy. For real estate, whether to meet the needs of the increasingly frequent mergers and acquisitions and restructuring or to enhance value creation, it needs to find a reasonable and accurate method to evaluate.Over the past few years,in all kinds of methods of enterprise evaluation, income method,including the EVA theory is widely used.This paper uses the method which combines the theoretical and empirical analysis,to research the theoretical and operational of EVA theory in evaluation. Deepen the understanding of the EVA theory through basic theory analysis;deepen economic EVA theory application through the study of the case analysis of Poly Real Estate Group.In this paper, sums up the purpose and significance of enterprise value evaluation, through analysis of enterprise value assessment. Then summarize the theory for domestic and foreign related enterprise mergers and acquisitions valuation and the research of using EVA to enterprise evaluation. Traditional enterprise value assessment methods and their advantages and disadvantages are discussed in this paper. This article introduces the advantages and disadvantages of traditional methods, and the basic theory of EVA, including calculation, adjustment, models, and the advantages of EVA applied in Poly Real Estate evaluation. On the foundation of theoretical research, the article choose Poly Real Estate to case analysis. Introduce the background and financial analysis of Poly Real Estate, compare and analyze the assessment result under the EVA method and the realistic status. At last, analysis the current situation of enterprise valuation in our country and put forward advices.It can not only help the investors,but also can promote the enterprise management.