The Enterprise Value Evaluation Of Listed Companies Empirical Ananlysis

With the growing development and improvement of the economic globalization, a problem of enterprises searching for the real significance of value emerged,becoming an important topic of academic circles.Western theories and methods of enterprise value assessment are already almost mature,while the domestic ones are still in the exploration stage,therefore,Western assessment theories and methods ought to be learnt and modified in order to adapt to the conditions of China's development.Also,an empirical research and analysis should be conducted,basing on these theories and taking enterprises present on the domestic market as examples.Date collected from the analysis will show what kind of theories and methods of value assessment are used by Chinese companies,or in which way should they be adjusted.This paper, taking Chongqing Changan Automobile Co.Ltd.as an example,conducts research and analysis,basing mainly on the 2014 annual report,and revises it for the purpose of financial statement for management.Obtained data is used to calculate the company's equity cash flow and entity cash flow to predict its equity cash flow in the next five years,and to calculate its equity value and entity value.Comparing the value of each share with its current price verifies whether or not the company's equity value and entity value have significance.