Research On Value Evaluation And Value Promotion Of Company XJ

With the continuous development of social economy,the gradual improvement of technological innovation level and the continuous enhancement of national support for high-tech enterprises,high-tech enterprises with advanced scientific and technological competitiveness keep emerging.At the same time,this kind of small and medium-sized enterprises also encountered many problems in the process of operation and development.Due to the large investment and long return cycle,enterprises are short of a large amount of necessary funds and need to face the financing problem.The evaluation of enterprise value plays a crucial role in the financing process.In order to strive for more initiative in the future financing process,it has become an urgent problem for high-tech enterprises to select appropriate enterprise value evaluation methods and reasonable value promotion strategies.This paper takes XJ company as a case study object,and studies its value evaluation and value enhancement based on relevant theories and methods.In the part of value assessment,through a specific analysis of the actual operation of the company,it is concluded that the company has the typical characteristics of strong scientific and technological research and development capability and high and new high-tech enterprise with uncertainty.After considering the value evaluation method,SCHWARTZ-MOON continuous time pricing model is selected to evaluate the value.According to the idea of introducing real option into the traditional free cash flow model,the evaluation model is constructed.On the basis of determining the evaluation parameters and their selection basis,the financial data of XJ company is processed and then brought into the model for the evaluation.By using monte carlo simulation method,the uncertainty of enterprises is represented by dynamic stochastic process,and the final valuation is obtained.When looking for the key variables that affect the value improvement,firstly screen the evaluation parameters with the promotion effect,and take the initial value of XJ company’s value evaluation as the parameter value.A sensitivity analysis was made for the fluctuation range of plus or minus 30 percent.By analyzing and comparing the range of enterprise value changes,the key factors influencing the change of XJ company value are determined.In the part of promotion,in view of these key factors,the corresponding improvement measures are proposed to achieve the purpose of enhancing the value of XJ company.In conclusion,this paper selects the SCHWARTZ-MOON continuous time pricing model,supplemented by monte carlo simulation algorithm,to evaluate the value of XJ,a high-tech enterprise.Through sensitivity analysis of model parameters,it finds out the main factors influencing the company value,and then puts forward strategies to improve the company value.