Research On The Investment Value Of N Chemical Company Under The View Of Social Responsibility

Entering the stage of the 14 th Five-Year Plan,China’s economy has shifted from medium-and high-speed growth to high-quality development.High-quality development inevitably requires enterprises to fulfill their social responsibilities and achieve green and sustainable development.Therefore,in the current critical period of economic transformation,enterprises must adapt to the development of economy and society,reduce the pollution of the environment as far as possible,which is not only the challenge of heavy pollution enterprises,but also the fourteenth five-year plan for heavy pollution enterprises,heavy pollution enterprises should grasp the historical opportunity and bear the social responsibility of enterprises.As the first chrysanthemum methrin pesticide production enterprise in China,N attaches more and more attention to social responsibility in the process of development.Therefore,this paper selects N Company,a representative enterprise in the chemical industry,for research.The existing literature confirms that social responsibility promotes the value of the enterprise,and the social responsibility correlated with equity capital.Accordingly,this paper combines the relevant theory of corporate social responsibility and corporate value,and attention to the unique factors affecting the value of chemical enterprises.Select the influence index of social responsibility from the perspective of N,then determine the weight through hierarchical analysis,and calculate the correction coefficient of N corporate value based on the fuzzy comprehensive evaluation system.Then reasonably predict the main financial data of N operating income and operating cost that affect free cash flow,enterprise free cash flow is calculated,calculate the revised cost of equity capital from the perspective of social responsibility,and then determine the revised discount rate to determine the enterprise value from the perspective of social responsibility.Based on the information and data disclosed in N in the annual report,this paper predicts the free cash flow of N in the next five years,calculates the comprehensive value of N against the value of social responsibility,and evaluates the value of social responsibility to the enterprise.Based on the case analysis of N Company,the perspective of seven stakeholders is finally proposed to improve the value of the enterprise by considering the performance of social responsibility.