Research On The Enterprise Value Evaluation Of China's Listed Commercial Banks Based On EVA

As an important part of the national economy,the banking industry is related to the security and stability of the national financial system.With the speeding up of China's financial market reform,the market demand for the value of commercial banks is increasing,and it puts forward higher requirements for accurately reflecting the intrinsic value of commercial banks.Therefore,it is very urgent and necessary to study the value evaluation system of commercial banks.For a long time,the valuation method for commercial banks has focused on:asset value law,market comparison method and cash flow method.Asset value law does not take into account the overall profitability of banks,market conparison method is difficult to find analog banks,free cash flow discount method is widely used,but ignores the bank's equity costs,cannot accurately reflect the commercial banks to create value for shareholders The Economic value added value(EVA)value evaluation model to assess the value of corporate wealth to increase the value of enterprises,make full use of commercial banks to provide all the public information,so that the value of a more comprehensive assessment of the results reflect more real,reflecting the bank's intrinsic value.However,EVA as one of the effective indicators of the valuation of commercial banks,and other value assessment indicators on the interpretation of the value of the bank is better,still need further discussion.This paper first analyzes the research results of EVA theory at home and abroad through literature analysis,and puts forward the theme of this paper:EVA.value evaluation method is more suitable for the valuation of listed commercial banks than traditional bank value evaluation method.Secondly,the EVA value evaluation model and the information content theory are discussed,which provides the theoretical basis for the qualitative analysis and empirical analysis,and analyzes the applicability of the four value evaluation methods such as:economic value added method,asset value method,market comparison method and cash flow method,in the evaluation of the value of listed commercial banks in combination with the particularity of the value evaluation of commercial banks.The paper also analyzes and discusses the applicability of four kinds of valuation methods in the value evaluation of listed commercial banks.Based on the relevant research methods of information content theory,MVA and four kinds of valuation methods to demonstrate the EVA has a stronger interpretation of.the value of commercial banks;Finally,we hope to provide advice on how the listed commercial banks can use the EVA value assessment method and improve the value creation ability.