The Applicability Research Of EVA Method In The Valuation Of The Listed Securities Companies

After more than 20 years securities markets' development,our Chinese securities market scale is growing quickly,it plays an irreplaceable role in the economic development of our country.With the growing of economic development,and resident income constantly increase,the residents investment conscious constantly enhancing,investors are more inclined to the rational investment under the premise of the pursuit of higher profit.Meanwhile in order to enlarge the scale and enhance their social status,enterprises need more capitals,At this time,The importance of our securities companies can be seen.As is known to all,the securities company as the main trading mechanism of securities market,which not only is the core place for investors to make investment transactions,and also is the enterprise effective financing platform,playing the role of a bridge between investors and enterprises,it's interests directly impact the investors and the enterprises interests.Therefore,under the interest driven,due to different securities company has different social status,investors and enterprises will face the choice problem of securities companies,so how to rationally and effectively assess the value of securities companies have become more and more important.EVA method has a full name,that is economic value added method,it is a new type of enterprise value evaluation method,also can objective and fair evaluation the intrinsic value of the company.In this article,EVA method is applied to the listed securities company,taking the form of case analysis to research the Western Securities Corporation.The Western Securities Corporation is the only listed company with a full license in shaanxi province,using the EVA method to analyze the enterprise value of the company,researching the EVA method applicability in the securities industry.In this article use EVA method to research,the process of enterprise value assessment first is to introduce the selected topic background,significance,articles reviewed of EVA method's development at home and abroad,research thought and framework,research methods,enterprise valuation theory.In the introduce of the enterprise valuation theory from three kinds method start,the important part is focused on EVA method.Secondly,from two aspects of the characteristics of the EVA method and the characteristics of the securities company to studies the applicability of the method in the valuation of securities companies.Thirdly is using the EVA method to analysis and evaluation the value assessment of the Western Securities Corporation.Selecting a appropriate EVA valuation model,following the valuation steps to obtain the evaluation results,and compared the result with the actual performance of the company.Through this method research,this paper obtained the conclusion that the EVA method is appropriate to the securities listed company.Last is according to the characteristics of the securities listed company,put forward reasonable advice to ensure the accuracy of the EVA valuation method.