A Study On The Value Of The Listed Companies In The Coal Industry

In the Chinese market economy and gradual improvement of capital markets in the process of valuation theory and methods become increasingly concerned about the hot issue. With the concept of market value assessment in business management and promotion of investment analysis and application, the choice of assessment methods appropriate to the importance of the value of self-evident. This paper describes and summarizes the current value assessment theory and methods, combined with China's own characteristics listed coal companies, focusing on company free cash flow discount model and option valuation model, combined with fundamental analysis on the domestic market valuation of coal enterprises to choose the appropriate valuation of listed coal companies methods and models.The main task of this paper is the valuation of the current international theories were summarized and analyzed and discussed their applicability. Meanwhile, for the characteristics of the coal industry and characteristics of listed coal companies, summarizes the current valuation methods for listed coal companies and an listed coal companies with a related empirical study conducted to reveal its intrinsic value. The innovation of this paper provide some theoretical basis about the valuation of the mature theory of capital markets in China for a specific valuation of the coal industry . Research and practice simultaneously, give a reference guide for the choice of method of valuation for the coal companies which have existed expectation of coal assets into the companies.