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Research On The Value Evaluation Of Wind Power Enterprises

Posted on:2019-07-11Degree:MasterType:Thesis
Country:ChinaCandidate:Z W LiFull Text:PDF
GTID:2429330545973740Subject:Asset Assessment
Abstract/Summary:PDF Full Text Request
With the intensification of resource shortage and the enhancement of human awareness of environmental protection,all countries in the world have paid more and more attention to the development of new energy industries.Various new energy resources such as solar energy,geothermal energy,wind energy and ocean energy,have been widely developed.Over the past 30 years,wind energy,as a clean renewable energy,has maintained its status as the fastest growing energy.Wind energy plays a signaficant role in the new energy industry,and wind power is the main way of utilizing wind resources.In order to promote the development of the wind power industry,research on the wind power industry still needs continuous improvement.The existing relevant research so far mainly includes the evaluation of wind power project,the research of development trend and the content of industrial policy,and the content of research on wind power business value are pretty few.However,due to the special nature of wind power enterprises and the assumption of more social responsibilities,it is urgent to solve the problems in the evaluation of wind power enterprise value.This paper enriches the evaluation theory of the specific industry,and provides an important reference for evaluating the environmental protection industry.In the practical use,the combination of the income approach and the real options approach promotes the flexible use of assessment methods.In a practical sense,a scientific and reasonable assessment of the value of wind power companies will help improve the efficiency of the use of social resources and provide important reference for operators and investors.Based on the perspective of factors influencing the value of wind power generation enterprises,the article adopts a combination of qualitative analysis and quantitative analysis.Through the measurement of the influencing factors of value,it fully understands wind power companies scientifically and divides their corporate values into general and environmental values.After studying the relevant literature,combining the applicability of the method,the characteristics of wind power companies in China and the factors influencing their value,based on the scientific correction of parameters,the income method was selected to evaluate the general value,and the real option method was chosen to evaluate the environmental value,and based on previous scholars' research experience,the process of parameter selection is innovated.Finally,Chaohu Huailin Wind Power Co.,Ltd.was taken as an example to verify the applicability of the new model.The environmental value of the wind power enterprise is a kind of recessive value.With the gradual deepening of human awareness of environmental protection,environmental value will play an increasingly important role.The research results show that the value of wind power enterprises is underestimated by the income method.Especially when compared with the traditional power generation methods,wind power generation has important environmental value.The real option method can be used to evaluate the environmental value of wind power enterprises more reasonably.Scientific evaluation model is not only an important support for strategic analysis of investors and business managers,but also conducive to guiding enterprises to develop environmental protection industry and create environment-friendly society.
Keywords/Search Tags:Wind power enterprise value, DCF Method, B-S model, environmental value
PDF Full Text Request
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