The Research Of The Value Assessment Method Of High-tech Enterprises Based On EVA

With the rapid development of today’s world high-tech, High-tech industries which developedon the research and development of high-tech,high-tech product manufacturing and high-techservices provides have become the most important industries in the upgrading of industrialstructure,which because of its advantages of high-tech, high economic value-added, lowconsumption and low pollution.Simultaneously,as the gradual improvement of China’s socialistmarket economic system and capital markets,the competition between enterprises become morefiercely. Although, high-tech enterprises grows rapidly with high yield, they have onedisadvantage of high risk.If high-tech enterprises want to have a long-term development in thefierce market competition, they need to do the enterprise value assessment, in order to ensurethe managers would make the right decisions which closely related to the development ofenterprises.As the maximization of shareholders’ equity to be goal of enterprises,enterprisevalue is more reflected in the ability of using all capital to create earnings in future. However,the present value evaluation methods can not accurately assess the enterprise value.Because thepresent value evaluation methods don’t consider the whole cost of capital.As a result,the wholeearnings created by whole capital can not be evaluated accurately and comprehensively,whichmay led managers to make wrong decisions.Economic Value Added(EVA),which use thedifference between the capital earnings and costs as the evaluation basis, could exactly assessthe value created.If we use EVA to assess the value of high-tech enterprises, that would make upthe shortfall,which present value evaluation methods can not estimate the value created byenterprises. This paper mainly research the value assessment method of high-tech enterprisesbased on EVA.By analyzing the features of high-tech enterprises,the disadvantages of presentvalue evaluation and the the nature of EVA Theory,I will establish a value assessment ofhigh-tech enterprises based on EVA,which use expect EVA to be the basis of enterprise valueassessment,considering the features of high-tech enterprises.The enterprise value assessment ofhigh-tech based on EVA would provide a more correct methods to assess enterprise value,andhelp managers to make more accurate decision.