Research On The Liquidity Discount In Equity Value Assess Of Multiple Financial Private Company And It's Influence On Business Valuation

Since the new century,recombination and mergers between companies have been commonly seen,most of which take place among non-listed companies.At the same time,transaction concerned of equity has become one of its main business.This article gives a comprehensive demonstration of equity liquidity discount.Equity liquidity discount is actually part of equity flows in the process of inflating deductions.Firstly this article mainly focus on the liquidity discount of multiple stakes in non-listed companies in the financial sector,and explicitly explain its application and applicability.Secondly,the article describes the measurement on liquidity discount.Liquidity discount deduction rate of multiple non-listed companies in the financial sector equals liquidity differences discount rate plusblock trade discount rate of financial industry in 2016 Financial industry shares issued in 2016,after first day‘s opening,change into listed company,its each unit of inner value in listed changes not much either before or after,with the occurrence of liquidity value-added though.This article,during measuring the rate of deduction of liquidity difference of multiple financial industry of non-listed company,for lack of newly financial multiple enterprise in 2016,simply make use of 7 financial industry's shares issued in 2016,the average of narrow liquidity discount price for the first ninety days in the financial sector is 54.65%;By the formula,article selected 36 bulk trading cases of 11 multiple financial industry between January 1,2016 to February 16,2017 for measuring,to get the average take value 8.07%,eventually we can get liquidity discount of multiple non-listed companies in the financial sector is 56.95%.Lastly,this article target on testing and analyzing the case of evaluating the equity trading value of the non-listed company multiple financial industry G fund.We apply returns method to assess the market company value for the G Fund,then selected comparable sample,profitable capacity,enterprise scale,operating capacity,risk management capacity,future development capacity as well as indexes of 11 multiple financial industry.In the meanwhile,marketing method was used to calculate all assessment results of multiple G fund in response to the lack of liquidity in the financial sector discounts and the interests of all the shareholders before the control premium discount.By analyzing and comparing the accuracy of the statistic of share liquidity of multiple non-listed companies in the financial sector.