Research On The Value Multiplier Of Enterprise Value Market Method Evaluation

With the continuous adjustment and optimization of China's economic structure,the demand for asset evaluation is expanding,the impact of the asset evaluation industry is increasing,and the demand and expectation of the quality of the evaluation are increasing,so the research on the evaluation method is becoming more and more important.For enterprise value assessment,the market method can obtain the relative value of the enterprise by referring to comparable company price or transaction case price,which is convenient and easy to understand and widely used in foreign countries.Because the market information is difficult to obtain before China,the market law is seldom studied and applied,but with the development of our socialist market economy system in more than 20 years,the Securities Regulatory Commission has made a more strict information disclosure system for the listed companies,and the market information has been relatively easy to obtain.The core of enterprise value market method evaluation is the value multiplier.The key to using the value multiplier is to choose the reasonable multiplier type and the accurate measurement value multiplier.In this paper,the selection of value multiplier is analyzed in the industry.First,identify the industry that is being evaluated.Secondly,the driving factors of the value multipliers of listed companies in the industry and the annual average price of the enterprises are analyzed to obtain the influence degree of each driving factor on the enterprise value.Finally consider the value of the multiplier is the enterprise value is measured,to extract the degree of impact on the enterprise value maximum driving factors,the value of the corresponding multiplier type as the final selection of multiplier value.For the calculation of the value multiplier,this paper uses the average value multiplier of the comparable company as the preliminary calculation.Then,The wall scoring method was introduced and improved,and its evaluation index was converted into a financial indicator related to the value multiplier,and its correlation parameters were determined to be converted to relevant data of comparable companies.Correction applied to the value of the multiplier,multiplier financial performance assessment,establishing value according to the score obtained value correction coefficient of the multiplier will be a preliminary calculation of multiplier value multiplied by the coefficient of correction,get the final value by numerical value.This article through to the empirical analysis of listed companies,in this paper,the multiplier value selection method was verified and the feasibility of measuring method,in order to enrich our country marketing assessment theory,provide a reference for practice and subsequent researchers.