| The enterprise value evaluation helps to measure the fair market value of the enterprise and helps the investors and the managers to improve the decision. The traditional value evaluation method mainly starts from the financial statements,which is more about the enterprise’s historical situation and the present situation. Value assessment not only to reflect the past and present business performance, while the future profitability, development capacity to be predicted, and for the future profitability of enterprises, development capacity prediction, not only consider the financial factors,non-financial factors is the enterprise The development of the important factors, and thus the existence of traditional assessment methods to ignore the lack of non-financial factors,in order to more comprehensive so that mergers and acquisitions, investors, managers understand the overall value of the enterprise, the introduction of the concept of value chain, Non-financial factors, the impact of the overall value of the enterprise, but the value chain of different industries vary, the value chain links are not the same, in order to better, more comprehensive and more consider the non-financial factors on the overall value of the enterprise Impact.In this paper, the automobile industry value chain as the research object, from the world auto industry point of view,China is the world’s largest growth and fastest growing market, China’s previous year production of 23.72 million vehicles, sales of 23.49 million vehicles, an increase of 7.3 % And 6.9%, the main reason for the slowdown in growth is the slowdown in the growth of the overall economic situation, the implementation of new emission standards, resulting in passenger car configuration,price increases, affecting market sales. The same industry enterprises have commonality,for the automotive industry within the perspective of the analysis of the automotive industry value-added activities of the analysis, the automotive industry’s non-financial indicators of standardization, to determine a common for the automotive industry non-financial indicators, not only can Simplifying the assessment process, or the value of the business between the automotive industry is more comparable, this paper will be through the analysis of the automotive industry value chain to determine a set of non-financial indicators for the automotive industry assessment system.In order to analyze and understand the advantages and disadvantages of the enterprise value evaluation method based on the value chain, this paper evaluates the overall value of the Great Wall Automobile Co., Ltd. from the investor’s point of view and compares and analyzes the traditional free cash flow The evaluation result of the discount model and the evaluation result of the enterprise value evaluation model based on the value chain, the evaluation index of the previous value evaluation system is improved from the point of view of the value chain, and the evaluation index and evaluation standard of the automobile industry are analyzed deeply and Improvement,through the value chain based enterprise value assessment in the Great Wall Motor Co.,Ltd. specific application, through case analysis, with real data to confirm the value chain based on the enterprise value evaluation system, and with the traditional free cash flow discount method for comparison, Enhance the theory of persuasion, and put forward the application of improving the value evaluation of the automobile industry based on the value chain. |
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