Evaluation Of Dong-E E-Jiao Enterprise Based On EVA Perspective

The pharmaceutical industry as an important part of our national economy,it plays an important role to protect the people's good health,enhance the happy life index,epidemic prevention,disaster relief,military combat readiness and promote economic development and social progress.With the continuous advancement of the aging population,the whole society's demand for medical services is increasing.In recent years,the rapid development of China's pharmaceutical industry has given the industry greater investment value.Therefore,it is an important factor to evaluate the value of pharmaceutical enterprises objectively and provide a reasonable price basis for investment Mergers and Acquisitions.From the point of view of medical enterprise management,it is also an important management goal to continuously improve enterprise value.Therefore,it is also a major problem for medical enterprises to accurately determine enterprise value and its influencing factors,so as to explore the potential of enterprise value creation.Based on the above reasons,it is of great practical significance to carry out a reasonable and accurate value assessment for medical enterprises.The thesis expounds the enterprise value evaluation theory first,and then,the thesis analyzes the advantages and disadvantages of different evaluation methods and their suitable conditions.Based the above analyzing,the thesis determines the superiority of EVA valuation method and its applicability in the pharmaceutical industry enterprise' value assessment.Secondly,the thesis takes Dong-E-E-Jiao Co.,Ltd for example which is a representative of the pharmaceutical industry enterprises,to analyze its background and development status which affect its value,and then build the company's EVA valuation model and according to the company's 2013-2017 financial statements data to calculate its present EVA.Based the company's future EVA value and the weighted average cost of capital are forecast and calculated,the company's value is calculated.In the end,the thesis gives the investment decisions about the Dong-E-E-Jiao Co.Ltd,at the same time,the thesis also provides some measures to promote the value of the company,such as put forward to strengthenenterprise technology innovation,optimization of corporate capital structure,breakthrough the raw material's bottlenecks,improve the assets' operational efficiency,controls the product's quality strictly,improve product market share and other related measures,which above measures aimed to provide reference about the value management decision of the enterprise.The thesis' research results not only benefit for the capital market's investors make the correct investment decisions,so as to realize the capital market resource's efficient allocation.At the same time,the assessment of enterprise value by the method of EVA is also conducive to enterprise management to understand the real factors of the enterprise value and make them adopt the right value management decisions to improve the enterprise's value.