Research On Enterprise Value Assessment Based On Core Value Factors

There are many factors that can affect the enterprise value.The core influence factors are the profitability of the enterprises,including enterprise's innovation ability,organization and management ability,marketing ability and the ability to adapt to changes in the external environment and so on.These core factors determine that the enterprise can achieve more than the average enterprise's profitability in the fierce market environment.When evaluating enterprise value,although these core factors of the enterprise has carried on the detailed analysis,these core factors in the process of evaluation is often ignored by enterprise value assessment for it is impossible to quantify these.Based on the study of the current enterprise value assessment methods,the paper built the index evaluation system which makes enterprise core ability,the macro environment,business performance index as the core factor,through the analysis of the influencing factors of enterprise value,and established a core factor correction method with some characteristics of the enterprise value appraisal system such as 'The evaluation system of enterprise value assessment' to overcome the traditional enterprise value evaluation methods which ignore the core factors of non-financial index influence on corporate value,through the expert evaluation method that determines different score of the core factors into different weights quantifiable indicatorsaccording to different contribution to the enterprise value.It makes the financial indicators and non-financial indicators to achieve the organic combination with correction method system to achieve the core factors of non-financial indicators of quantitative and qualitative analysis.It modified the enterprise value with the cash flow method to evaluate enterprise valueon the basis of using the core factor correction method,which achieved the effect of comprehensive and in-depth,system analysis.The enterprise value evaluation is no longer a simple subjective speculation and financial data analysis,but scientific reasoning results based on real data and detailed analysis of the social environment.The value investment is based on the judgment of the intrinsic value of the enterprise,applying the internal law of price and value,and looking for an investment way thatmake investment on assets that are undervalued in a certain degree.Value investmentcan be more real and accurate grasp of the basic situation of enterprises and intrinsic value with enterprise value assessment,which will help investorsmake investment decisions more scientific and reasonable,reduce the investment risk,and make higher return on investment.With the maturity of China's securities market,the value investment concept will be applied more and more to the enterprise value assessment practice.The papermade a special effort to analyzecompany value assessment methods and value investment idea,and finally made the right investment decisions,which realized the organic combination of theory and practice,based on theenterprise value assessment of the proposed investment project Hikvision.The specific case also provides reference for investment practice.The paper hopes to make some meaningful contribution to value investment and value evaluation theory,and have some helpful references for grasping the key value activities.