| In the real economy enterprises deleveraging environment, private equity financing of enterprise financing will play a more and more important role, in the future it is expected to become a most important means which is second only to bank loans and IPO. But China's private equity investment history is not long, industry system is still not perfect, specific investment operation process still exist many problems. This paper is in such a background, focuses on the analysis of private equity investment in enterprise valuation methods.This paper first briefly introduces the related concepts of private equity investment and operation of the process, then expounding the meaning and significance of enterprise value appraisal, and has carried on the analysis to the various factors affecting the valuation. The second part of the article mainly introduces the four classics of enterprise valuation theory and the valuation model, that is cost method, income method, market method and real options method and analyze the adaptability of different valuation theoryfrom the perspective of the valuation methods and the firm's life cycle. The third part,using the formofthe case analysis, respectivelyshowing the valuation process of four different valuation methods, and more detailed introductionto valuation process of the income method and market method which are widely used in practice.This paper aims to draw lessons from the research results of the domestic and foreign enterprises valuation, combining theoretical summary and case analysis, respectively introduce the basic theory of the private equity investment and classical enterprise value assessment theory, and analyze the applicability of different valuation theory, finally, a further research is made on the case. Through the analysis and discussion in this paper, we hope to provide a more scientific and feasiblereferencefor private equity investors and financiers in the daily practice of enterprise valuation. |
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