Study On Value Assessment Of Chinext Enterprise Based On EVA Model

As China's deepening of the transformation of the economic development of small and medium enterprises,reflected in economic growth vigor is more obvious,in order to solve the financing problems encountered in the development of the market,to further enhance the efficiency of investment,the GEM market has become a new era of choice.The number of GEM listed companies in recent years has seen rapid growth,but the company's financial condition and profitability uneven,which makes the screening cost investors continue to increase,resulting in the liquidity of the market is becoming more and more serious differentiation.To establish an evaluation system of gem enterprise value,impact on the market parties to reduce the investment threshold of the GEM market,attract more investment funds,to promote the further growth of the capital market,improve the liquidity problems.The commonly used methods of enterprise valuation,such as cost method,income approach and market method,have some defects which are not suitable for assessing the value of gem enterprises.The economic value added(EVA)evaluation method can compensate for the above defects to a certain extent,and can demonstrate its feasibility in operation,and it has strong operability.This paper takes EVA technology as an example,uses the value evaluation model to evaluate its value,and then compares the results with the market value of the company,and then makes further analysis and suggestions.The main research contents are as follows:First,based on the basic theory of EVA,this paper briefly introduces the development of EVA evaluation method at home and abroad,and summarizes the important conclusions of Chinese and foreign scholars at various stages and directions.This paper introduces the calculation process of EVA and the EVA value evaluation model.Focusing on the characteristics of the EVA concept and the gem enterprises,how to choose the accounting adjustment items when calculating the EVA index.Secondly,this paper analyzes the advantages of using EVA value evaluation model to evaluate the value of gem enterprises in our country.To the basic situation of the macro environment from China's gem enterprises are facing and their operation conditions,and then compare the cost method,market method and income method of three kinds of traditional evaluation methods,finally obtains the evaluation using the EVA value model of assessment of the value of the superiority of the valuation of China's Gem enterprises.Thirdly,this paper takes EVA technology as an example,and uses the value evaluation model to evaluate its value.First,macroeconomic analysis,industry background,and ChinaNetCenter company fundamentals were carried out;after use public data of its financial report,to estimate the future periods of economic value added,discounted value based on the perspective of EVA company,and the base period(end of 2015)after three months,the average market capitalization by comparison;comparison analysis showed that the EVA value evaluation model is applied to ChinaNetCenter this gem enterprises with application utility.Finally,draw the conclusion of this paper.On the one hand,it summarizes the restrictions and possible problems that should be paid attention to in the application of EVA in gem enterprises,and tries to propose ways to improve accuracy in future applications.On the other hand,it gives policy recommendations according to case studies.