Enterprise Value Evaluation From The Perspective Of Economic Value Added

With the continuous development of China's capital market,corporate value has received extensive attention.The more and more researchers tend to explore how to accurately measure corporate value.The concept of economic value added has discovered due to eliminate the impact of traditional accounting indicators on corporate value.The economic value added indicators has been adjusted through many accounting subjects,which not only minimizes the impact of accounting indicators on corporate value,but also takes the future growth capacity of enterprises into account.At the same time,the theory of economic value added fully considers the problem of corporate capital cost and believes that it is the only way the value can be created by enterprise which is that the net operating profit is greater than the capital cost occupied by the enterprise.This research studies the value of the enterprise from the perspective of economic value added.Through the case study method,the capital asset pricing model and the EVA two-stage model are used to analyze the enterprise value evaluation of Lansi Technology Co.,Ltd.Firstly,this research expounds the research background and the significance of EVA value assessment,combs the research status at home and abroad,proposes the research content and method,and at the same time elaborates the EVA value evaluation method and model,and carries out the EVA value through comparative research method.The evaluation compares with other enterprise value assessment methods and reveals their respective advantages and disadvantages and applicability.Secondly,this research analyzes the status quo of Lansi technology enterprises through financial indicators and industry data comparison.This research provides the good foundation for the enterprise value improvement strategy as well.In addition,this research makes a targeted adjustment to the 2014-2017 financial statements of Lansi Technology from the perspective of economic value added,uses the capital asset pricing model to calculate the capital cost of the enterprise,and obtains the historical economic value added of the enterprise.By observing the differences between them,we analyze the problems of enterprises,and find that EVA indicators are more sensitive to the decline of corporate performance.Finally,this research predicts the business income of the company in the next three years through the analysis of the core competitiveness of Lansi Technology,market prospect analysis,capacity scale analysis and business income analysis,uses EVA two-stage model to Lansi Technology to assess the value,and adds the innovative ideas in the application of the model.Finally,through the EVA value diagnosis,Lansi Technology enterprise value enhancement strategy is put forward,and the conclusion of the full text is drawn.Based on the EVA value assessment theory,this research clarifies the difference between the economic value-added index and the traditional accounting index,and compares the current value assessment methods then obtaining the superiority of the EVA value assessment method.As this case study explores,the superiority of EVA index has been discovered and the enterprise value improvement strategy has been obtained as well.This research also provides precautions and improvement measures in the actual application based on the EVA value evaluation model.And the practical cases of the EVA value evaluation theory in the electronic device manufacturing industry are enriched.