Research On Enterprise Value And Driving Factors Of Chinese Sports Goods Listed Companies Based On EVA

Modern financial management theory holds that the most ideal goal of an enterprise is to maximize the value of the company.Traditional Accounting Indicators generally have such defects as subjective and controllable methods,ignoring the opportunity cost of enterprises,incomplete distortion of results,and unfavorable for evaluating the long-term development of enterprises.The introduction of enterprise value can solve the problem.In order to effectively evaluate the real value of sports goods listed companies in China,the concept of enterprise value of EVA is introduced.The enterprise value of sports goods listed companies in China is analyzed by using the methods of literature,logical analysis and mathematical statistics,and the driving factors are further discussed in order to realize the future profitability and enterprise price of sports goods companies in China.Effective promotion of value,promote the development of sports industry to boost the tide.Research shows:First of all,the listed sporting goods companies in China have five characteristics: 1)the trend of listing is basically consistent with the development of the whole industry and the overall level;2)the choice of the location of listing is biased towards Asia,and more diversified;3)the core business is mainly about the design,manufacture and sale of sportswear;4)the time of listing clearly presents the initial stage,the flying development stage,the trough stage,and the sales of sportswear.The recovery period is divided into four stages and the performance characteristics are obvious.5)All the companies listed in Singapore are not well operated,and the companies listed in other regions are in good condition.About the project adjustment of EVA of sports goods listed companies in China.It is considered that the cost of equity and debt should be considered comprehensively,and the future profitability of the company should be measured more accurately.The adjustment of two major items,net profit after tax and capital cost,should be carried out.Second,when calculating the EVA of sports goods listed companies in China,we should adjust the items.That is to say,the cost of equity and debt should be considered comprehensively,and the future profitability of the company should be measured moreaccurately.The adjustment of two major items,net profit after tax and capital cost,should be carried out.Third,the actual value creation ability of EVA of China's sports goods listed companies is poor,and the overall performance of EVA value is not good.Although the value of EVA basically shows an upward trend year by year,there is still a certain distance from the performance of EVA value of foreign sports goods listed companies.There are great differences in the value of EVA among companies,which are basically three-level distribution.According to their overall performance,they can be divided into excellent,general and poor.Fourthly,total assets,asset-liability ratio and net assets income are the main driving factors of EVA value of sports goods listed companies in China.Based on the above conclusions,the following suggestions are put forward:Firstly,the listed companies of sports goods in China need both "open source" and "throttling" to effectively enhance the value of EVA.That is to say,we should constantly strengthen the ability of independent innovation;2)we should not only consider the operation cost,but also fully measure the opportunity cost,and try not to waste large-scale capital cost.Second,China's sports goods listed companies must start from the main driving factors of EVA value,"targeted" to achieve rapid improvement of the company's EVA value.In terms of total assets,we should formulate a scientific and reasonable expansion plan for the company and constantly strengthen the liquidity of the company's assets.2)In the aspect of asset-liability ratio,we should constantly optimize the capital structure of the company and plan for its long-term development.3)Return on net assets.Capital must be fully planned and utilized to maximize the use of capital.