The Research On Value Assessment Of Thunip Company Using Ohlson Residual Income Valuation Model

An important issue brought about by the rapid development of China’s industrial and economic construction is the increasing environmental pollution.Therefore,the emerging industry of the environmental protection industry has emerged as a part of the high-tech industry,and its market size and economic volume are also growing at a high speed.Leading companies in the environmental protection industry are also constantly pursuing horizontal development and mergers and acquisitions of vertical businesses to find new profit growth points.The process of mergers and acquisitions and reorganization of environmental protection companies often occurs,which also makes the environmental protection industry increasingly demand for asset evaluation.Asset evaluation has formed a relatively standard system at present,but the development of capital market is complicated and the development of market economy is diversified.The particularity of enterprise strategic management requires continuous innovation and improvement of asset evaluation methods to explore the most.The asset assessment method suitable for the current market environment and individual characteristics of the enterprise provides decision-making reference for relevant investment stakeholders and enterprise managers.This paper first analyzes the applicability of commonly used valuation methods in environmental enterprise valuation.Next,the Olson model was improved to apply to the valuation of the case company.The Ohlson model is different from the commonly used free cash flow method.It combines financial statements and enterprise value,and has strong operability.It avoids the influence of excessive subjective factors and is more in line with the current environmental enterprise value assessment.At present,the research on Olson’s model mainly focuses on the investment value of listed companies.The model uses relatively little value in enterprise mergers and acquisitions.Therefore,this paper applies the Olsen model to asset valuation practice.The model is studied in the applicability of environmental enterprise valuation.This paper takes the evaluation of H enterprise value as the evaluation case,evaluates the existing evaluation method,and proposes the improved Ohlson model based on the characteristics of environmental protection enterprise.The improved model is used to evaluate and analyze the value of H enterprise.The results of the study show that the evaluation method in the original evaluation case does overestimate the value,and it is feasible to guide the determination of the income period and the estimation of the value of the enterprise’s renewal by the enterprise life cycle theory.The improved Ohlson model adopted in this paper quantifies the financial indicators of enterprises for enterprise value valuation,enriches the method theory of asset evaluation,and also provides more reasonable suggestions for relevant departments.