Research On The Enterprise Value Evaluation Of Dong-E-E-Jiao Based On Improved EVA

In recent years,the Chinese medicine manufacturing industry has developed rapidly,with high investment value,which has attracted more and more investors’ attention.Therefore,it has become an urgent need for investors to objectively evaluate the value of enterprises in the Chinese medicine manufacturing industry and provide a reasonable price basis for investment.From the perspective of internal management of Chinese medicine pharmaceutical companies,it is also important to continuously improve the value of enterprises.Therefore,it is an important challenge for Chinese medicine manufacturing enterprises to correctly identify enterprise value and its influencing factors and tap the potential blue ocean for development.Therefore,it is of great significance to evaluate the value of pharmaceutical enterprises scientifically and correctly.EVA was first put forward as a performance evaluation index.It takes the capital invested by shareholders into account,and can intuitively see whether the enterprise is really adding value.Because its ability to measure business performance is significantly superior to the traditional accounting profit,it has been widely welcomed by the company.In 2012,the State-owned Assets Supervision and Administration Commission(SASAC)implemented the reform of the performance evaluation system for the heads of state-owned enterprises,and clearly stipulated the use of economic added value as the performance evaluation index for the heads of enterprises.EVA has become a reliable profit evaluation index,which can be used to evaluate the company’s economic value in asset evaluation,but its practical application is limited due to the lack of standardization and clear adjustment objectives.Therefore,this paper analyzes and improves the EVA evaluation method,hoping to help improve the EVA evaluation system and promote the application of EVA in enterprise value evaluation.Firstly,this paper discusses the concept of enterprise value,common evaluation approaches and EVA evaluation system.Secondly,it analyzes several factors that affect the enterprise value evaluation of Dong ’e Ejiao.This includes the analysis of macro-economic environment,Chinese medicine industry and enterprise level,in-depth understanding of the environment in which enterprises are located,and providing basis for future prediction.Next,combined with the characteristics of Dong’e Ejiao Company,this paper analyzes the applicability of EVA evaluation method to Dong ’e Ejiao Company’s enterprise value evaluation,analyzes the advantages and disadvantages of EVA evaluation method,and makes targeted improvements to the shortcomings,and constructs an improved Dong ’e Ejiao EVA evaluation model.Finally,the value of Dong ’e Ejiao Company is evaluated by using the constructed model,and the evaluation results of the improved model are compared with those of the model before improvement and the stock value on the evaluation benchmark date,and the evaluation results are deeply analyzed,which proves the superiority of the improved model.Finally,the full text is summarized,and the shortcomings and prospects of this paper are put forward.The innovation points of this paper are mainly reflected in two aspects: first,the EVA adjustment index is improved,and the improved EVA adjustment method is more suitable for traditional Chinese medicine manufacturing enterprises,and the evaluation cost is reduced;Second,the market correction coefficient is introduced to correct the assessment results of traditional EVA,which reflects the views of many subjects on the value of enterprises after integrating various factors,which not only comprehensively considers internal and external factors,but also effectively avoids the contingency of the assessment results caused by the single evaluation subject.After in-depth study,this paper draws the following conclusions:(1)The improved EVA evaluation method can more accurately reflect the market value of enterprises;(2)There is still room for improvement in the enterprise management of Dong ’e Ejiao Co.,Ltd.,which can be improved by increasing product research and development and improving asset operation efficiency,so as to promote the long-term development of the enterprise.