Research On The Driving Factors Of Enterprise Value Creation

China’s GDP has been "L"-type growth,China’s economic development has been from the rapid growth stage is shifting to a high-quality development stage.This is the important period of the economic shift and quality of our country,in the past,the quantity,cost and extensive investment gradually shifted to the intensive growth mode and turned to the higher value-added point.However,whether the enterprise is a high-quality growth,the key to see the value of enterprise creation,the enterprise value has become the core index of the market,only the enterprise continuous value creation,can have a competitive advantage,and the value of the source of the creation of more valuable.In this paper,the combination of theoretical knowledge and case study from the angle of enterprise’s internal value,to create the enterprise value maximization as the ultimate goal,take the value creation as the means,take the financial value driving factor and the non-financial value factor as the core,excavate the index which the enterprise can identify and manage to keep the competitive advantage.Based on the theory of enterprise value creation and the evaluation model of economic added value,the paper takes the theory of enterprise resource,ability,knowledge and competitive advantage as the basis of value creation,and starts to decompose the result index of enterprise performance to find the final manageable factor that can increase enterprise performance.And the only driving factor to the decomposition is the financial value-driven factor,because only from the performance of the current decomposition of the drivers,those who can not be measured but drive the long-term performance of the driver is not reflected,so this paper from the perspective of intellectual capital to the non-financial drivers to decompose,to obtain specific non-financial value drivers,To make up for EVA evaluation of enterprise value.Then,by using MVA to evaluate the short-term value of Eva and the long-term value driven by intellectual capital,it has been proved that these financial and non-financial value drivers are the main factors of enterprise value creation.In recent years,the United States from a pure household appliance enterprise transformation into pan-appliance enterprises,from manufacturing-oriented enterprises into intelligent enterprises,from local enterprises to international enterprises,from a handmade workshop to today’s 500 of the world,which is the beauty of the group’s continuous value creation results.Therefore,the study of the beauty of the group’s enduring driving force,explore "What factors drive the beauty of the group value creation","how these factors drive the beauty of the group value creation" to discover the U.S.group in the value of the creation of advantages and can improve the weak,so that the United States to make up for the weak,to gain more competitive advantage.In the specific analysis of the United States of the group value drivers,mainly from three major financial value-driven factors,including investment rate of return,sustainable growth rate,weighted average capital cost of the impact of the United States,mainly from the four non-financial value drivers,including the United States Group of human capital practice,structural capital practice,The influence of the innovation capital practice and the relationship capital practice to the enterprise,showing the driving effect of the financial value and the non-financial value driving factors together from the beauty group market performance,reflecting the balance between them,and being indispensable to each other.In the specific analysis of these indicators,and from the driving roic price,cost,gross profit margin,management expenses,sales costs,operating liquidity,fixed assets seven indicators for detailed analysis;In the analysis of sustainable growth rate,we compare SGR with the growth rate of operating income of the United States;in the analysis of the cost of group capital,excluding the uncontrollable factors,mainly from the capital structure analysis;Based on the analysis of the human capital practice from the knowledge,experience,satisfaction and ability of the American group employees,the author analyzes the practice of the structure capital from the group process,organization and culture reengineering,and analyzes the practice of the innovation capital from the innovation ability,achievement,mechanism and culture of the American group.,the relationship between the United States and customers,vendors,suppliers,strategic partners,investors and creditors to analyze the relations between the capital practice.Through these specific indicators to analyze the beauty of the group to create value of the various drivers,found that these factors are indeed driving the United States to create corporate value of the group,and constantly for the United States to enhance the competitive advantage of the main driving force.The driving factor of enterprise value creation is not unchanged,every enterprise has its own value driving factor,this article only studies the common factors in various industries,enterprises and various business departments.By introducing the management practice of American group and analyzing the driving factors of group financial and non-financial value,we find that the advantages and disadvantages of the beauty group in value creation,which is a reference for the enterprises who want to survive in the stage of high economic growth,value creation is the universal currency in the world,Every enterprise should find the driving force that accords with its own value creation,adapt to economic development and strengthen its competitive advantage.