Evaluation Of Enterprise Investment Value Of Lenovo Group

Economic globalization has penetrated into all walks of life,and China's capabilities in various fields have been on the rise.With the improvement of China's capacity,China's horizon is widening,with its eyes on the big market of the world and its footprint on the land of the rest of the world.The government encourages domestic enterprises to go abroad.There are many ways for domestic enterprises to go abroad,among which cross-border m&a is the most popular.Domestic enterprises acquire foreign enterprises for the purpose of control,so as to enter foreign markets and increase their market share.In order to successfully penetrate into foreign markets,the selection and analysis of target enterprises are inseparable from enterprise value assessment.Based on the theory and characteristics of enterprise value,this paper analyzes the characteristics and definitions of enterprise value,investment value and enterprise value evaluation,and summarizes the advantages and disadvantages of traditional methods.This paper analyzes the theory and characteristics of real option method,and summarizes the definition and characteristics of enterprise investment value evaluation by referring to the above definitions.This paper evaluates the investment value of lenovo group for lenovo enterprises,thus attaching more importance to the future development opportunities of the enterprise.Comparing the characteristics of the real option method with the three commonly used evaluation methods,the real option method not only focuses on the profitability of existing assets,but also focuses on the value of enterprise strategy,and considers the factors of future development opportunities.The real option method is exactly in line with the purpose of this evaluation,so the real option method is chosen.Learned that lenovo group is analyzed potential option value,therefore,case group value can be divided into two pieces,one piece for now reflect the value of profitability of the business,another piece of bring potential profitability of the business of option value,will be two parts value sum is lenovo group enterprises investment value.In this paper,we use the traditional method and the B-S model of real option method to calculate the value of different parts of the enterprise.The independent value is calculated by traditional method,and the potential option value is calculated by b-s option pricing model.By applying the model to the value evaluation of lenovo group,the value obtained is higher than the real m&a value,which fully proves that the potential option will increase the enterprise value,and the method is very reasonable to evaluate the potential option value.The potential option value increases the enterprise value,indicating that the investment in lenovo group is feasible.After calculating the investment value of lenovo group from beginning to end,I further studied and understood the real option theory.Finally,at the end of the paper,the author summarizes the defects in the paper and gives three constructive Suggestions.