Research On Evaluating Value Of Joyoung Enterprise Based On EVA

After the 1980s,with the further development of capital market,the completion of the reform of non-tradable shares and the establishment and rapid development of the securities market.Nowadays,more and more enterprises want to raise funds through listing,which leads to a series of values of listed companies,such as whether the stock price of listed companies is reasonable and accurate,whether the stock price truly reflects the actual operation of the company,the basis for investors to make investment decisions,the basis for managers to make management decisions and how to save decision costs and other related issues.In order to better solve these problems,it is obvious that how to rationally evaluate the intrinsic value of a listed company has become a particularly important and indispensable first part.Firstly,based on the reality and theory,this paper summarizes the basic ideas,development process and practical application value of enterprise value evaluation theory with EVA,and finds that the basic theory of EVA value evaluation overcomes the shortcomings of traditional accounting indicators in evaluating company value,and can more truly reflect the company's operating performance and reflect the real value of the company.Subsequently,based on the basic idea of EVA value evaluation,this paper uses the method of case analysis to make a comprehensive analysis of Joyoung shares of the target enterprise.On this basis,it calculates the historical EVA value of the target enterprise and predicts the EVA value of the target enterprise from 2018 to 2022.Using the calculation results,it carries out the enterprise value of the target enterprise in 2018 according to the two-stage model of income method.Assessment shows that the results of the model are different from the market value of the enterprise,but within a reasonable range.Therefore,it is considered that the evaluation of the target enterprise with EVA is effective,and the validity and validity of the EVA valuation model are confirmed from the side.Finally,according to the calculation results of the valuation model and the current development situation of the enterprise,the paper considers that the target enterprise will have greater development potential and value creativity in the future.On this basis,it puts forward some investment suggestions for investors.At the same time,according to the industry characteristics of the target enterprise and the development status of the target enterprise itself,it puts forward some suggestions for the target enterprise to improve its management and enhance its value.Keep technological innovation and optimize sales channels.In summary,this paper uses EVA theory and basic method of case analysis to conduct a comprehensive analysis and evaluation of the target enterprises.It is believed that the EVA evaluation model is more conducive to investors to make investment decisions and enhance the value of enterprises themselves.It is precisely because EVA theory takes all opportunity costs including equity capital into account,so as a new theory of enterprise value evaluation,it has been paid much attention by scholars at home and abroad,and has been adopted and practiced by many listed companies so far.Many practical results also prove that applying EVA theory to enterprise value evaluation is not only conducive to guiding managers to price.The change of value management-oriented management concept is also helpful to guide the formation of investors' value investment concept.