Research On Valuation Of Equity Transfer In Guangxi F Environmental Protection Technology Enterprise Based On Market Approach

The state council itssude the outline of China's 13th live-year plan for ecological proteclion.aiming to improve the ecological covironment and environmental protcction.Guangxi has issued the 13th live-year plan for cnvironmental protection and ecological construction and other relevant policies to show its emphasis on the environmental prolcetion industry,Environmental protection industry came into being,Most people are ceoncerned about its development.environmental protection enterprise mergers and acquisitions phenomenon is increasing,With the incrcasing frequency of the equity value evaluation of such enterprises,a more objective method is needed to evaluate the equity value of the target enterprises.However.the application of market method is relatively weak in the case of cnterprise equity valuation.The mature development of the capital market has provided a rich data base for the market approach,and its application will become more and more extensive.The market method based on open and transparent data is easier to be understood and convinced by the users of the report.In order to ensure the scientific and objective application of the market method,It is helpful to improve the veracity of market method in enterprise value evaluation,and better provide high-quality value consulting services for all stakeholders.It is necessary to optimize and improve the application of the market method to promote the smooth realization of the equity trading behavior of environmental protection enterprises and the better development of environmental protection technology enterprises.Guided by domestic and foreign research results,take equilibrium theory.information asymmetry theory and efficient market theory as the forerunner,taking Guangxi F environmental protection technology enterprise as an example,the problems existing in the current market evaluation method are analyzed,and makes a detailed analysis of the reasons for its emergence,so as to "take appropriate measures" from the root.First of all,the evaluated company F is comprehensively analyzed,including its business scope,capital structure and operating conditions.SWOT analysis is adopted to understand its advantages and risks.And then,combined with the theory of equity transfer,the' reasons for the shortage are analyzed from the aspects of the professional attitude of the evaluators.the speed of updating the open data,and the self-regulatory administrative supervision of the industry.Then,by means of the principle of fuzzy mathematics proximity degree,the degree of similarity between the candidate listed company and the evaluated company F was calculated.and the more comparable listed company was selected.According to the applicability of the value ratio multiplier,the prospective value multiplier of comparable listed companies is calculated and reasonably revised.Finally,the new value multiplier and correlation coefficient are used to re-calculate the equity value of company F,and the evaluation conclusions are compared before and after.The following conclusions are drawn in this paper:the merger of business units can effectively improve the efficiency of using the market method,the prospective value ratio multiplier can expand the application of the market method in the value evaluation of start-up enterprises,and the equity value evaluation research of the market method can be enriched.The selection of comparable listed companies based on the principle of fuzzy mathematics proximity degree is helpful to comprehensively consider the comparability between comparable companies and target companies,select more similar enterprises,and the calculation result is closer to the market price.Based on this,this paper puts forward the corresponding prospects:to establish a professional database applicable to market law,so as to provide convenience for evaluators;Improve the information disclosure mechanism to reduce the possibility of using false financial data;Strengthen the industry self-discipline inspection,is helpful to promote the evaluation personnel study enthusiasm.