Valuation Analysis Of The New Three Board Enterprises In Guizhou Province

Construction of multi-level capital market system is an important goal of China's financial market development,the new three-panel market in this context came into being as a tower of multi-level capital market system,healthy development of the market the NEEQ Concept Stock Market or not,not only affects our country capital market restructuring,but also affect solve the financing problems of the majority of SMEs.Although the NEEQ Concept Stock Market listed companies more and more markets,development is in full swing,but still in the early stages of development,a large number of listed companies good workers missing,many high-quality companies because the development of greater uncertainty,the current profitability is not prominent and other reasons easy being buried in the market.For investors,the only correct understanding of the new board of enterprise value to make the right investment decisions in the market.So how to properly assess the value of the new three-panel business,it is crucial for investors.Guizhou new three-panel business as a part of many enterprises,there are also similar problems,also has its special place,this article will how to Guizhou Province the NEEQ Concept Stock Market business effectively make the valuation a little research.In this paper,the NEEQ Concept Stock Market business enterprise value assessment for the study,focusing on the evaluation of new three-panel business in Guizhou Province.The article first describes the background and main contents,but also describes the current situation at home and abroad on the valuation theory to determine the research ideas and methods.Next,the article describes the traditional business valuation theory,and analysis of the applicability of its methods and models,draw the limitations of traditional business valuation theory in the new board estimates exist in practice.Therefore,this article introduces the concept of real options,real options theory to try to take advantage of the new board companies try valuation analysis,by introducing its theoretical sources and mainstream models,and uses Black-Scholes model specific suitability analysis for use the model in this paper empirical analysis case basis.Finally,select a representative Guizhou Wei door Pharmaceutical companies do case studies,company reported annual data by using the Black-Scholes model and the discounted cash flow valuation model theory and found that Black-Scholes valuation model results effectiveness better,and then analyzes the reasons for this.Empirical studies have shown that,Black-Scholes model assumptions,although strict,but simple and elegant with a formula to calculate the convenience,the valuation results are more accurate,and can be used as an effective means of the NEEQ Concept Stock Market business valuation.End of the article is to study the Summary section,according to the findings and conclusions of this paper summarizes the shortcomings of the study,and for the healthy development of the current market the NEEQ Concept Stock Market made a number of policy recommendations.