Study On The Influence Factors Of Enterprise Value Under EVA Discount Model

With the acceleration of economic globalization,the capital market is becoming more and more important in the development of global economy.In addition,the ups and downs of the securities market,these factors make enterprise managers and external investors pay more attention to the management and evaluation of enterprise value.At the same time,the real estate industry,as an important part of China's national economy,has a steady impact on China's economy Operation has guiding function.Real estate has the characteristics of huge capital demand,preference for large-scale development,and difficult to manage financing channels.Compared with other enterprises,the impact of national macroeconomic policies and urban development level on real estate enterprises is more obvious.Under the pressure of various policies constantly issued by China to regulate housing prices,whether real estate enterprises still have investment value and real estate enterprises How to improve the enterprise value through effective financial means has certain research significance from the perspective of all stakeholders.This paper studies the influencing factors of the value of real estate enterprises in China through six parts.The first part of this paper introduces the background,significance and purpose of this research,and then reviews the domestic and foreign research literature on enterprise value evaluation model,and introduces the research methods and research content of this paper.The second part mainly introduces the related concepts and theoretical basis,including the related theories of enterprise value,EVA,sensitivity analysis and so on.In the third part,it mainly introduces the case companies and points out the competitive advantages of the case companies.At the same time,it elaborates the general situation and characteristics of the real estate industry in China.The fourth part,calculate the enterprise value of the case company under the EVA discount model,first calculate the historical EVA value of the case company,then predict the future EVA and weighted average cost of capital,so as to calculate the enterprise value and compare it with the actual value.The fifth part analyzes the sensitivity of various factors in EVA model,discusses the driving factors of Poly Real estate enterprise value,and provides suggestions for improving the enterprise value.Finally,the conclusion of this paper is pointed out and the prospect is put forward.The results show that:(1)EVA discount model can be used to measure the value of real estate enterprises,mainly because compared with other value evaluation models,EVA discount model takes into account the investment capital from creditors and shareholders;(2)in the process of using EVA discount model to calculate enterprise value,operating income,operating cost and asset liability ratio for enterprises The influence of industry value is greater,and the influence of other indicators on enterprise value is relatively less;(3)by combining the characteristics of real estate enterprises,the paper points out the elements driven by Poly Real estate value,which can improve enterprise value by improving the asset liability ratio and using more bank loans.