The Impact Of Investment Decisions On Enterprise Value In The Context Of The Anti-Monopoly Law

With the rapid development of China's capital market,the institutional environment of the capital market is also improving.Enterprises need to adapt to the institutional environment when they make strategic planning.When the institutional environment changes,enterprises should actively adapt to the changes of institutional environment,make corresponding adjustments to their strategic planning,and reasonably adjust their investment decisions.Only in this way can the enterprise develop healthily and steadily.However,if the investment decisions of enterprises are not adjusted properly when the institutional environment changes,it is likely to make the enterprises fall into the dilemma of development,and then affect their enterprise value.This paper mainly studies the impact of institutional environment changes on investment decision-making after the institutional environment changes in the capital market,and analyzes the impact of investment effect on enterprise value.The case company selected in this paper is Huiyuan Juice Group Co.,Ltd.Huiyuan has developed rapidly since its establishment.Shortly after listing,the company reached a merger and acquisition agreement with Coca Cola.Before the acquisition,it reformed the structure of the company.With the promulgation of the anti-monopoly law,this merger failed,and then Huiyuan had to readjust its investment decision.This paper studies the impact of the change of the institutional environment on Huiyuan investment decision after the promulgation of the antimonopoly law,and evaluates the impact of its enterprise value change with the economic value added.The results show that: after the termination of the merger and acquisition between Huiyuan and Coca Cola by the antimonopoly law,Huiyuan blindly expanded its sales channels and upstream production base,as well as its radical investment in capital,which made the enterprise fall into the dilemma of heavy debt,and thus resulted in the continuous decline of enterprise value.Finally,when the institutional environment changes,enterprises should actively adjust their strategic planning and investment decisions,and control the corresponding investment risk,so as to make the enterprise healthy and sustainable development.