Appraisal Of Enterprise Value Research In Publishing Enterprises

Chinese publishing companies are increasingly market-oriented and gradually transit fromproduct-operation into capital-operation after they complete their restructuring andtransformation into enterprises and resources-integration. In the capital market, there aremore and more publishing companies.It has become the focus of the capital market thatwhether publishing companies are worthwhile to invest and how to scientifically assesspublishing companies’ enterprise value. Therefore it is especially important to assess theenterprise values.Based on the reference to the relevant theories and research methods of enterprise valuationat home and abroad, this thesis systematically describes the relevant concepts, methods andmodels of enterprise valuation. Moreover, this thesis uses the case of Jiangsu PhoenixPublishing and Media, INC. to uncover the advantages and disadvantages of majorvaluation models in their’ usage in the publishing industry and finally chooses the discountincome model to evaluate by analyzing the features of the publish industry and the relevantfactors which affect the enterprise values. Assess Jiangsu Phoenix Publishing and Media,INC.’s enterprise value by using the discounted cash flow model, which is one of thediscounted income model, and EVA evaluation models.This thesis finally come to conclusion that the income discounted method to assesspublishing companies’ enterprise value is relatively scientific and effective. Moreover,through the assessment process, this thesis sums up effective management method that canimprove publishing companies’ enterprise value.