Research On The Enterprise Value Evaluation Of Energy Conservation And Environmental Protection Industry

Energy conservation and environmental protection industry is a national strategic emerging industry.With the new normal of economic development and the change of industrial structure,vigorously developing energy conservation and environmental protection industry is an important part of China’s industrial restructuring and optimization,and the transformation of the economic development mode,which is of strategic importance to China’s economic development and the optimization of ecological environment.Along with the "14th Five-Year Plan",a series of policies and regulations on environmental protection and environmental pollution and management have been introduced and implemented one after another,which makes the energy-saving and environmental protection industry will be further developed.Firstly,as a policy-driven industry,the implementation of favorable policies will lead to great market space for the energy conservation and environmental protection industry,which will show accelerated revenue growth,significant industry clustering,and increased M&A activity,etc.Under such a trend,investors of all kinds will also flock to the industry,and energy conservation and environmental protection stocks will become an important part of the capital market in the future.Secondly,enterprise value assessment itself is one of the topics of great interest in the academic field.A reasonable enterprise value assessment can not only help investors make more reasonable decisions in the investment of the securities market,but also help the managers of enterprises to manage their projects and make decisions with the long-term goal of improving the enterprise value.Therefore,finding a reasonable method to assess the value of energy-saving and environmental protection enterprises has become an important issue at present.From the perspective of the entire industry chain,the current service model of China’s energy conservation and environmental protection industry has been transformed from the traditional single model of waste recycling and solid waste treatment to an integrated comprehensive service model of green energy conservation services,and third-party environmental governance has greater development potential as a new environmental service model.Nanda Environmental is a typical third-party environmental service provider with environmental technology service as its main business.In this thesis,we will use literature reference method to review the literature related to enterprise value assessment,based on which we will use EVA enterprise value assessment method based on enterprise life cycle theory and value assessment theory,and take Nanda Environment as an example,and use case study to assess the enterprise value of Nanda Environment,a listed energy-saving and environmental protection company,and compare the obtained results with its market value and analyze the error rate.Finally,through the analysis and research in this thesis,it is concluded that the EVA enterprise value assessment model can be used as a reference method to assess the value of energy-saving and environmental protection enterprises,and made relevant recommendations.