Case Study Of Value Evaluation Of The Electronic Waste Comprehensive Utilization Enterprise

The industry of electronic waste resources comprehensive exploitation and utilization can both alleviate the environment pollution problems and creat huge economic value, which caught the attention of government and market. This article based on the most important subject in the electronic waste comprehensive utilization of resources industry--- enterprise, as the research object., and choose GEM as an example, the most mature specification listed companies in the industry. By applying the method of EVA, and combining the real option method to evaluate the value of GEM.First of all, I summarized the predecessors’ research in electronic waste comprehensive utilization of resources industry and enterprise value evaluation of related research in the environmental protection industry, these researches brought a lot of inspiration to this article. Then from the angle of industry chain, this paper expounds on the electronic waste comprehensive utilization of the characteristics, current situation and future development of the industry, illustrates the different primary business in the industrial chain. Based on the theory of enterprise value assessment theory, through the analysis of the formation of the enterprise value, it has applicability to choose EVA method and B-S real option method to evaluate the type of the enterprise value. Finally, this article choose GEM as the case, the main difficulties of the evaluation lies in the adjustment and forecast about the performance evaluation index calculation, the estimate of the cost of capital and the variable’s value of the BS model. Compared three points of enterprise value evaluation results with the market value of GEM,it shows that using the method of EVA and B-S real option method can reasonablely and objectively assess the enterprise value, which has characteristics of similar enterprise value assessment has reference significance.