Research On Value Management Of WX Company Based On Economic Value Added

At present,the business goal of modern enterprises have shifted from profit maximization to value maximization.A large number of scholars have begun to study improving value through management decisions.And it formed form a comprehensive researcha gradually,value evaluation as a starting point,analyzed the value driving factors and value creation process.based on the characteristics of the internal resources and the impact of the external economic situation,the allocation of corporate resources is optimized,and ultimately,the goal of maximizing the value will be achieved.Therefore,a scientific value assessment method is very important for increasing the value of the enterprise.When choosing how to measure the value of an enterprise,the traditional valuation method is only considered by the impact of the cost of debt capital and is ignored by its cost of equity capital.This article chooses the EVA value evaluation method.It distinguishes the traditional value evaluation method by emphasizing the value management of the enterprise,comprehensively evaluating the impact of bond costs and equity costs,paying attention to the future development of the enterprise,so it can reflecte the company's ability to create value truly.This article selects WX Company as a case company and uses conducts case studies.Research ideas of the article is "Company Introduction-Enterprise Value Evaluation-Analysis of Key Value Driving Factors-Value Management Optimization Countermeasures".The author used the PEST method and core competitiveness method to analyze the internal and external environment of the WX company,build an EVA evaluation mode.Based on the annual financial statement data of the WX company in 2014-2018,consider the macroeconomic development,predict the financial data of 2019-2023,and evaluate orporate value of the WX company.The author decomposed the EVA model with the DuPont analysis method to get the value driving factors of WX Company.The author analyzed it form the four aspects of net operating margin,asset turnover rate,R&D investment,and marketing expenses deeply,it was found that there are four shortcomings:(1)the operating income is mainly domestic;(2)the cost control ability is poor;(3)insufficient investment in research and development innovation;and(4)the marketing efficiency is low.Aiming at these problems,the author put forward WX companystrategy to enhance corporate value.