High And New Technology Enterprise Value Evaluation Research Based On EVA

At present,although some high and new technology enterprises are in rapid development.but still exist some deficiencies in the aspect of value evaluation.On the one hand,the value of high and new technology enterprises have a lot of difference with traditional enterprise.So it is not applicable to use the traditional evaluation method to evaluate the value of high and new technology enterprise.On the other hand,due to the high and new technology industry development in our country is not mature,the market change quickly.so,when evaluating the value of the enterprise it is difficult to achieve results,it is easy to cause short of estimates.Therefore,it is particularly important to evaluate the value of high and new technology enterprise,because it can not only help enterprises to understand their own production management in time with the advantages and disadvantages,but also make a better foundation for the long-term development of the enterprise,and provide effective reference for the strategic development plan for the enterprise.In this paper,there are five parts: The first,the definition of high and new technology enterprise,value theory in this paper,the characteristics and evaluate the difficulty,provided a theoretical basis for later analysis of the method.The second,several kinds of high and new technology enterprise value of the existing evaluation methods of theory and the advantages and disadvantages of comparison.At the same time,the introduction of the value evaluation method based on EVA;The third,acording to the characteristics of the high and new technology enterprise,then make some improvements(market development costs,staff training expenses,abnormal operating profit or loss,operating lease assets),and adjust the calculation formula of the improved;The fouth,choose a relatively typical high-tech enterprises-Beijing Shen Zhou Tai Yue software company to analysis,finish the historical data and predict the EVA in the future.Then,calculate the enterprise value in the base date of assets evaluation,and compared with the enterprise's market value.The fifth,get the research conclusions,It has the applicability of the EVA value evaluation method for high-tech enterprises,and EVA can provide advice on the enterprise in the field of management and evaluation.Through the case analysis results,we can be found that the value evaluation method based on EVA can make the enterprise value more accurately.And reflect the operating results of the enterprise really.EVA index has strong ability to explain the the added value of operating profit for the high and new technology enterprise.At thesame time,EVA can help enterprises to improve management ability,and provide theoretical basis about strategic planning or making decisions for managers.