Value Assessment Of The Chinese New High-tech Enterprises Based On EVA Evalution Research

In recent years,with big data and cloud computing era,the high-tech industry is gradually replacing the traditional enterprises to become the symbol of the embodiment of a country's comprehensive strength,because it is a kind of high-tech,high-tech talent and high-tech enterprise value management mode based on integrated organization,so whether it is from a series of policies preferential measures of national high-tech industry has,or from the development planning of the high-tech enterprises,or even from the market for high-tech enterprises value management point of view,the development of high-tech industries from various industries,regions and countries attach importance to.Therefore,objective and impartial,independent assessment of high-tech company's value,to mergers and acquisitions,investment decision-making and enterprise value management in such economic activities be justified in the enterprise,to some extent reduce blind speculation,promote high-tech industry market standardized operation,effectively inhibit the short-term fluctuations in the capital market,the capital market can a smooth and orderly operation.In the assessment of the value of high-tech enterprises,the author found that more researchers use the real option pricing method of value evaluation,or combined with the traditional evaluation methods and use,but these methods in different stages of development of high-tech enterprises in the can not be fully applicable,in large limitations,so the accuracy of the evaluation results is not high.In contrast,the EVA evaluation rule has the maneuverability and scientific,the biggest feature is to consider the interests of shareholders will be deducted from the cost of capital,net operating profit after tax,accounting and project made some necessary adjustments,more scientific and accurate measure of the value of the enterprise,providing more valuable the decision of investors,managers and regulators.This paper mainly discusses the following four aspects: the first part,the background and significance of this thesis,the research contents and research methods,and reviews the research status both at home and abroad on the EVA index,and has carried on the summary for this paper,outline the basic outline.The second part,we first introduce the concept and the characteristics of high-tech enterprises,the status quo and appraisal of the value analysis,found that high-tech enterprises in different life cycle under the valuation problem,put forward the theory and characteristics of EVA and the evaluation of the advantages of the value of high-tech enterprises,and puts forward EVA valuation model the process.The third part,the EVA valuation method and discounted cash flow method applied to Bright Oceans Inter-Telecom Co.,Ltd,carries on the detailed analysis of the two kinds of evaluation methods,to verify the feasibility of the EVA model.The fourth part,through the summary of EVA evaluation theory and the development of Bright Oceans Inter-Telecom Co.,Ltd put forward their views and points out the shortcomings of the study.