Research On Enterprise Value Evaluation Based On Corporate Social Responsibility

The Company Law expressly stipulates that the Company shall assume social responsibility in its daily business activities.In the rapid economic development today,enterprises can take social responsibility to prevent future risks,for the stable development of enterprises,sustained income escort,is conducive to the continuous improvement of enterprise competitiveness and value of the continuous improvement.Corporate social responsibility factors will affect the size of the enterprise value,in the enterprise value assessment practice,generally through the cost method,the market law,the income method or the option law to the enterprise historical financial information as the basis for the enterprise value appraisal,The impact of social responsibility factors have aroused enough attention,corporate social responsibility can reduce the uncertainty of the future business,and the discount method has a direct link.This paper chooses the chemical industry as the research object,which is one of the 16 heavy polluting industries in China.Therefore,this paper has both social significance and environmental significance in the selection of the research object.At the same time,the number of listed companies in this industry is more The conclusion is more real and reliable.In this paper,through the theoretical research,empirical analysis and case test three parts of the study,first reviewed the theory of corporate social responsibility,and then the chemical industry's economic situation and the status of corporate social responsibility were analyzed in the introduction of a variety of enterprise value assessment On the basis of the method,the EVA valuation model is determined as the basis of the enterprise value evaluation,and then the corporate social responsibility factor is introduced into the valuation model through the discount rate.The adjusted discount is obtained by the univariate solution And then adjust the relationship between the adjusted discount rate and the corporate social responsibility score.Finally,we selected the leading enterprises of the dye industry-Zhejiang Longsheng used the enterprise value of introducing the corporate social responsibility factor in practice Evaluate the model and compare it with the results calculated by the traditional valuation model to test the rationality of the relationship function.The results show that:(1)Corporate social responsibility can increase the intrinsic value of the enterprise and bring long-term and stable benefits to the enterprise.The higher the discount rate of corporate social responsibility,the lower the discount rate after adjustment,and the higher the value of the firm calculated through the valuation model.(2)The social responsibility of the enterprise can avoid the risk and reduce the risk management the cost of.Corporate social responsibility score is negatively correlated with the adjusted discount rate,and social responsibility can be maintained at a low level to achieve stable and long-term development.(3)The enterprise value assessment model that introduces corporate social responsibility factors can improve Assess the accuracy of the results,improve the enterprise value evaluation system.In the case test in this paper,the enterprise value evaluation model which introduces the corporate social responsibility factor reduces the error of the evaluation result,and can evaluate the profitability of an enterprise more comprehensively.