Research On The Value Of Medical Cosmetology Enterprises From The Perspective Of Risk

With the awakening of public aesthetic consciousness and the substantial increase of consumer demand,China’s medical cosmetology industry shows a high growth trend,reflecting people’s higher pursuit of beauty and health.The medical cosmetic standardization personnel are surging.The imported and domestic medical cosmetology products are more abundant and precise,and the vertical medical cosmetology platform under the "Internet plus" has greatly enhanced information transparency.Medical cosmetology has become an important branch of medical consumption upgrading.A growing number of enterprises and investors enter the medical cosmetology industry,which makes the market competition more and more fierce,and brings complex and changeable risks behind the high returns.Compared with common enterprises,medical cosmetology enterprises have greater information asymmetry and medical risk.It provides more innovative and non-standard medical services than ordinary hospitals.But for this emerging industry,the national supervision is not in place,there are a lot of illegal activities in the industry,not conducive to the healthy development of the industry.Medical beauty enterprises are faced with great risks,so it is necessary to identify and evaluate their risks,and then study the overall value of their enterprises.At present,there are few studies on the medical cosmetology industry in the academic circle,mainly focusing on the exploration and analysis of the law,litigation and other aspects.The practical circle also evaluates the medical beauty industry as an ordinary enterprise and pays little attention to the risks.Therefore,this paper attempts to study the value of medical cosmetology enterprises and focuses on risks.Firstly,it introduces four methods,including free cash flow method,Grey Markov model and analytic hierarchy process.Then it introduces the medical cosmetology industry,mainly discusses its risks by classification,analyzes the upstream and downstream of the industry from the perspective of the industrial chain,and makes judgments on the future development of the industry from the perspective of supply and demand,policies and risks.On the applicability and advantages and disadvantages of traditional evaluation methods are introduced targeted,this article choose free cash flow model.Firstly it uses Grey Markov model to predict the free cash flow.Secondly it sets up the seven dimensions of medical cosmetology enterprise risk evaluation system,using the analytic hierarchy process to determine the relative weight of each risk factor.The risk correction coefficient has been established by set value statistical method,so as to determine the specific risk return rate of enterprises and improve the discount rate.Finally,the modified free cash flow model is used to evaluate plastic surgery in ARSMO,which verifies that the valuation model is applicable to the evaluation of medical cosmetology enterprises,and the two amendments to the free cash flow model are scientific and feasible.At the same time,the risk evaluation system of medical cosmetology enterprises constructed in this thesis can comprehensively and systematically identify and quantify risks.It helps enterprises effectively control risks,enables regulators to more comprehensively supervise enterprises,and provides valuation direction and ideas for enterprises and investors.