Modification Of Specific Risk Coefficient In Machinery Enterprise Evaluation Based On Fuzzy Evaluation Model

With the increase of mergers and acquisitions,more and more people pay attention to the research methods of enterprise value.Especially the application of income method,because there is a concept that has been accepted by the industry,that is,the value of the enterprise lies in its ability to create future cash flows.Profit method requires high professional competence of assessors,such as the selection of discount rate.The slight difference of discount rate has a great influence on the enterprise evaluation value.In practice,there are great differences in the selection of specific risk coefficients in discount rate by assessors.There are often different methods among different evaluation companies.This will affect the fairness of enterprise value by affecting the discount rate,so it is necessary to study specific risk coefficients..Firstly,through the introduction and analysis of the discount rate,this paper points out the necessity of studying the specific risk coefficient.Then through the comparative study of specific risk coefficients between the theoretical and practical circles,this paper puts forward some differences and advantages and disadvantages of the current methods,and finally puts forward its own solutions,which are as follows: Firstly,starting from the basic idea of income method,building a specific risk analysis system based on the thinking of enterprise cash flow,and calculating the specific risk of enterprises by building a fuzzy comprehensive evaluation model.Finally,taking mechanical enterprises as an example,the improved evaluation system is used to calculate the specific risk coefficients and the actual evaluation cases are compared and analyzed.The empirical results show that the improved evaluation system is more objective and less subjective bias than the non-logical evaluation system.Moreover,it can analyze the specific risks of an enterprise synthetically from its business process.From the theoretical point of view,it is helpful to expand the study of specific risk coefficient in enterprise value evaluation in China;from the practical point of view,the topic selection of this paper is closely related to the evaluation practice,and improves the current selection method of specific risk coefficient,which also has reference value for the evaluation practitioners.