Research On The Enterprise Value Assessment Of Shang Yuan Environmental Protection Company Limited

As the environmental pollution has an increasing influence on people's life in order to achieve better and faster resource-conserving and environment-friendly society,our government guides the environmental third-party governance to market-oriented,professional,and industrialization direction,then the whole society pay more and more attention to the environmental governance.The environmental protection industry not only belongs to the emerging strategic industries,also became the backbone of the nation's adjustment of industrial structure,which makes it becomes one of the emerging hot explore spot to the scholars studies.Now our country is in the age of value management and investment,for the enterprise manager,only understand which are the drivers of enterprise value,can make the right strategic decisions to promote environmental protection engineering enterprises' specification and long-term development.Therefore,from the perspective of management,we should give the enterprise value evaluation an important role to the value measurement and value creation of the enterprise.This paper selects Shang Yuan Environmental Protection co.,ltd.as the case study target.First,expound the basic theory of enterprise value evaluation methods,compare and analyze advantages and disadvantages of all kinds of method and the scope of application,found that the common evaluation methods including DCF method and EVA method(specific methods of income method),market method,real option method to evaluation the environmental engineering enterprise value is not applicable,the residual income method is more rationality and feasibility than other methods,the biggest difference is that method based on the basis of continuing operations and consider the value of the intangible assets so it assess the value of the enterprise is more comprehensive and effectively.Therefore,this case selected the residual income model as the valuation method.This paper calculation and prediction the various parameters which affects the RIM in the target enterprise,on the basis of analysis about the present situation and the application residual income model reasonable forecast the future value of the enterprise,aimed at the problems which in the process of enterprise development and analysis it's causes,then from the perspective of value assessment give the enterprise internal management of Shang Yuan Environmental Protection co.,ltd some rationalization proposals to it's development also provide some references for the management personnel.Of course,the analysis and evaluation process of this paper is not perfect,I also hope to further integrate uncertainty factors into the content of value evaluation,optimize relevant parameters and make the evaluation results more consistent with the reality of capital market in the future.