High-tech Enterprise Value Evaluation Based On Modified EVA Model

High-tech enterprises is a key element of high-tech industry,and high-tech industry represents the core competitiveness of a city.Therefore,high-tech industry can be said to be the key to urban economic construction.In recent years,relevant departments of China have formulated a series of preferential policies for high-tech enterprises,opened a special green channel,and strengthened market supervision.From these measures,the country can demonstrate a series of stable and rapid development for the country.ready.Limited market resources and numerous industry enterprises have intensified the high-tech enterprises' seizure of market resources and the difficulty of achieving long-term and stable development.A relatively accurate assessment of the value of high-tech enterprises is of great significance to the financing of high-tech enterprises to achieve long-term,stable development and maximize corporate value.This paper analyzes the connotation and evaluation characteristics of enterprise value and the characteristics of high-tech enterprises.By discussing several evaluation methods applied to enterprise value assessment,the applicability analysis is carried out on the basis of theoretical research on traditional evaluation methods,it is concluded that the advantage of EVA method is that it focuses on the profitability and growth of enterprises.The core thought and model of the EVA have higher applicability in high-tech enterprise value evaluation.However,in the process of EVA evaluation of enterprise value,it is necessary to predict the EVA value and calculate the WACC.By analyzing other scholars' research,there are still problems of inaccurate prediction in terms of EVA growth rate prediction and WACC prediction.There are still some difficulties in the current research situation.Therefore,based on the theoretical analysis,the article proposes an improvement method for these two points,so that the evaluation value is more in line with the value of the enterprise itself.The article proposes an improved method in two aspects of the inaccuracy of the EVA model,and predicts the EVA growth rate in combination with the future development stage of the enterprise,and then determines its capital structure according to the stage characteristics,and calculates the corresponding discount rate according to the WACC model.The improved EVA method was used to evaluate the new energy enterprise,BYD Company Limited,and the case study showed that the improved EVA method can be evaluated according to the characteristics of high-tech enterprises,so that the enterprise value evaluation value is more accurate.Finally,the limitations of the EVA method in practical application are analyzed,and further suggestions for improvement are proposed.