| Relying on innovative technology to provide growth impetus for development has become an important consensus for today's enterprises.The country and enterprises are paying more and more attention to the benefits brought by innovation and development.Therefore,research on the motivation of non-dominant status companies to carry out innovative actions and the influence of non-dominant status companies' innovation ability on corporate value is in line with today's trends.This article introduces the relationship and influence mechanism between the innovative actions of enterprises in non-dominant market status and their market status.For the dominant status companies,because of their market status,they have more abundant resources for innovative actions.Therefore,companies with a dominant market status will actively carry out innovative actions.However,for companies in a non-dominant position,although there is no resource advantage,because of greater competition and continuous growth pressure,their motivation to innovate will not be weaker than that of companies in a dominant status.Therefore,the innovative capabilities of companies with non-dominant market status are not necessarily weaker than those of companies with dominant status.In order to evaluate the innovation capability of enterprises in dominant status and non-dominant status,this paper designs a new innovation capability evaluation index system.The evaluation of an enterprise's innovation capability needs to consider all aspects of the enterprise's performance.This paper designs a set of innovation ability evaluation index system to evaluate the innovation ability of enterprises.This index including five aspects: enterprise R&D ability,product manufacturing ability,marketing ability,product profitability and financial support ability.Set up several secondary indicators for quantitative evaluation.Through the analytic hierarchy process and expert scoring,reasonable weights are assigned to each index,and finally an applicable innovation capability evaluation index system is formed.The characteristics of the index proposed in this paper includes: First,the set of index evaluates the innovation capability of the enterprise from the perspective of the enterprise as a whole,and is not limited to the enterprise's innovation input and innovation output;Secondly,data can be obtained through information disclosed by companies,therefore the use of this index is more practical.In addition,this article also proposes an enterprise value evaluation method that takes innovation capability as the value driving factor.The traditional relative valuation method is used for valuation,taking the relative valuation method as an example,the value driving factors are sales growth rate,sales net interest rate and net equity interest rate.But nowadays,the value driving factors of enterprises have changed.Valuation of enterprises using traditional relative valuation methods often fails to accurately reflect the value of the enterprise,resulting in an underestimation of the current enterprise value,and it will also cause an underestimation of the value of non-dominant status companies with certain innovative capabilities.Compared with traditional relative valuation methods,the valuation model proposed in this paper takes corporate innovation capabilities as value driving factor,can evaluate corporate value from the perspective of corporate innovation capabilities,and meets the current new requirements for corporate valuation methods,provides a more reasonable valuation method for evaluating the value of non-dominant market position companies with certain innovative capabilities.This method is also based on the comparable company law.In theory,its reliability depends to a large extent on the quality of comparable companies and the effectiveness of the market.Therefore,this article also puts forward the concerns when using the method and the evaluation of the method.Description of value reliability. |
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