Value Evaluation Of Biomedical Enterprises Based On EVA Model

The state is vigorously developing high-tech industries,and the biomedical industry,as one of the core industries of China’s high-tech industries,has received widespread attention.China’s biomedical enterprises started late and are still in the development stage.Their industry development trend also shows the characteristics of large-scale and quality,which leads to more and more frequent business activities such as M & A in the biomedical industry,and their M & a number ranks first in all industries.However,the success rate of M & A cases in China is not high at present.The reason is that there is a deviation in the value cognition of the merged enterprises between the two sides of the transaction.Therefore,the correct evaluation method of the value of biomedical enterprises is the problem to be solved at present.Biomedical enterprises have the characteristics of large early R & D investment,high R & D risk and long cycle.These unique enterprise characteristics undoubtedly affect the value evaluation of such enterprises.How to evaluate biomedical enterprises more accurately is not only related to the business behavior of biomedical enterprises such as M & A,but also affects the judgment of relevant investors and the management mode of enterprise managers.At present,there is no value evaluation method for biomedical enterprises in China,so this paper will study and analyze the industry characteristics and enterprise value realization mode of biomedical enterprises,and select the evaluation method suitable for such enterprises by comparing the advantages and disadvantages of evaluation methods and combining the enterprise characteristics.On the basis of studying the existing relevant literature,this paper explains the applicability and shortcomings of using EVA valuation model to evaluate biomedical enterprises due to their unique characteristics and value realization mode.In view of its shortcomings,this paper puts forward correction suggestions,that is,by expounding the impact of non-financial factors on the value of biomedical enterprises,and introducing non-financial factors to modify the EVA model.This paper uses the idea of financial + non-financial integration to evaluate the value of biomedical enterprises.From the perspective of financial factors,this paper expounds the idea of using EVA model to determine the basic value of biomedical enterprises due to the industry characteristics and value realization mode of such enterprises;From the perspective of non-financial factors,this paper expounds the three dimensions of enterprise technological innovation ability,industrial cohesion ability and enterprise leadership ability,determines the value of the enterprise,and then obtains its final adjustment coefficient through analytic hierarchy process and expert scoring method to correct the basic value of the enterprise.Finally,the modified model is applied to Shuanglu pharmaceutical,a representative biomedical enterprise,to determine the operability of the modified model through specific case analysis,so as to provide a new idea for the value evaluation of biomedical enterprises.