G Real Estate Enterprise Value Evaluation Based On EVA

The real estate industry is one of the important pillar of the national economy in our country,and has been in a high-speed development stage.In recent years,with the impact of the world economic crisis of our country economy and the increasingly severe macroeconomic regulation and control,the real estate industry is experiencing a big shock,real estate enterprises in the high speed development has difficulty in exposed or easy to be ignored board gradually emerge.From the perspective of the real estate enterprise itself,to scientific and reasonable assessment,its value and to find the problems existing in the management and improve way is very important;From the point of view of market investors,the intrinsic value of the target enterprise is relatively accurate judgment,can guarantee investors cautious investment,increase in earnings.Traditional accounting evaluation index has been widely used by enterprise managers and investors,but it has many omissions and inappropriate.Contrast,based on the EVA enterprise value assessment in terms of the real estate enterprise value evaluation,make up for the deficiency of the traditional accounting evaluation indexes: first of all,the cost of debt capital and equity capital cost into consideration,at the same time highlight the shareholder wealth maximization;Secondly,emphasizing the benefits associated with enterprise management activity,concentrated enterprise own real power;Again,overcome the constraints of accounting is the principle of caution and restrictions,the reserve funds,construction engineering,subjects such as adjusting spending on research and development,the real estate enterprise value evaluation more scientific and reasonable;Finally,EVA value concept emphasizes the enterprise value creation ability,pay attention to the long-term development of the enterprise,to avoid the short-term behavior of the management.Based on G real estate as an example,this paper use value evaluation model on the value assessment,combining the traditional accounting indicators to analyze it and advice are put forward.Basic idea is as follows:First of all,this article embarks from the basic theory and thought,a brief introduction to the property of G,and based on the value of EVA evaluate whether apply to G property analysis of applicability,Secondly,this paper analyzes the applicable to G property value evaluation model andevaluation in the process of selection of capital cost rate and discount rate.Again,this paper G property,for example,using the value evaluation model on the value assessment,and combining the evaluation index of traditional accounting calculation results are analyzed.Finally,this article conclusion.:On the one hand is to the real estate enterprise management,put forward advice on how to improve the real estate enterprise value G,and sums up the problems should be paid attention to when using the real estate enterprises;According to the case analysis,on the other hand,policy Suggestions are put forward.