Question 2: What does the total value of an enterprise mean? Internationally recognized enterprise value refers to the value of all investors' claim to the enterprise, including all assets of the enterprise and its derived rights. Enterprise value is a kind of market value, and enterprise value evaluation is subject to the transfer and transaction of enterprise property rights, and enterprise value evaluation comes into being with the transfer and transaction of property rights. Accountants emphasize book value, economists emphasize fair value, and investors emphasize intrinsic value.
The total value of an enterprise refers to the total value of an enterprise, including book value, fair market value and intrinsic value. From the perspective of value evaluation theory, the value of an enterprise depends on the utility it brings to investors, that is, the profitability of the enterprise. The profitability of an enterprise is its ability to obtain income (cash) through production and business activities. For an enterprise, with stable profitability and stable cash inflow, the market value of the enterprise can be continuously improved.
Question 3: What are the corporate values? They refer to the basic beliefs and goals advocated by enterprises in the process of pursuing commercial success. Philosophically speaking, values are an idea about the usefulness of objects to subjects. And corporate values are the final judgment of corporate significance recognized by all or most employees.
enterprise
Values include four aspects.
1 is the standard for judging good and evil;
2. The core values are the group's recognition of the cause and goals, especially the pursuit and vision of the enterprise;
3. Form the pursuit of goals on the basis of this understanding;
4. Form a realm of * * *.
Excellent corporate values
Punod's corporate values ―― love, honesty, innovation and dedication;
China Mobile ―― being virtuous and pursuing perfection;
IBM-"Help customers bring value";
Wanyou group-let 300 million people enjoy professional legal services with confidence;
Disney-healthy and creative;
Cadbury-competitiveness, quality, clear goals, simplicity, openness and sense of responsibility;
Merrill Lynch-customer-oriented, respect for individuals, team spirit, responsible citizens, integrity and honesty;
HP-Respect for the individual;
Merck Pharmaceuticals-corporate social responsibility, clear quality requirements in all aspects of the enterprise, technological innovation, honesty and integrity, profitability-benefit from the work that benefits mankind;
Sony-improve Japan's national culture and status, become an industry pioneer rather than a follower, challenge the impossible, regenerate and encourage individual ability and creativity;
IKEA-innovative, humanized and simple, pursuing the interest and willpower of most customers;
Reuters-accurate, independent, reliable and open, timely, innovative and customer-oriented;
American military-loyalty, responsibility, dignity, selfless service, sense of honor, integrity and individual spirit;
Motorola company-maintain noble morality and always respect people;
Procter & gamble-leadership, ownership, honesty, integrity, initiative and trust.
Question 4: What does the enterprise's own value include? The enterprise's own value is the present value of the expected free cash flow discounted by its weighted average capital cost, which is closely related to the financial decision-making of the enterprise and reflects the time value, risk and sustainable development ability of the enterprise's funds.
Extending to the management field, the enterprise's own value can be defined as the ability of the enterprise to follow the law of value and make all enterprise stakeholders (including shareholders, creditors, managers, ordinary employees, government, etc.). ) Get satisfactory returns through value-centered management. Obviously, the higher the enterprise value, the higher its ability to give returns to stakeholders. And this value can be measured by its economic definition.
Question 5: What are the main methods of enterprise value analysis? Look at the company's assets and liabilities, position in the business field and brand value. Hehe, it's just a 4P. Whether the products are competitive among peers, whether the price can maximize profits in the competition, and whether there are good production and sales channels and promotional means to attract consumers. Take McDonald's as an example, McDonald's products are absolutely oligopoly in the fast food industry, and because of economies of scale and franchising, McDonald's fast food prices are lower and more competitive, while ensuring the quality. In terms of channels, McDonald's cooperates with Coca-Cola, and both potatoes and chicken have fixed suppliers. In terms of promotion, McDonald's launches a new advertisement every week on average, through TV, newspapers, road signs and billboards. Even in the period of economic crisis, McDonald's profits are growing positively, and it is in a leading position in the commercial field, and its brand value ranks in the top 20 in the world, which reflects the enterprise value.
Question 6: What is the use of enterprise value evaluation? 1. Maximize the needs of management.
Enterprise value evaluation is extremely important in enterprise management decision-making, which can help management authorities to effectively improve business decisions. The goal of enterprise financial management is to maximize enterprise value. Whether every business decision of an enterprise is feasible depends on whether this decision is conducive to increasing enterprise value.
2, the needs of enterprise mergers and acquisitions
In the process of enterprise merger and acquisition, investors are not satisfied with understanding the value of the target enterprise at a certain point in time from the perspective of replacement cost, but want to understand the value of the target enterprise from the perspective of the comparison of the existing operating capacity of the enterprise or similar markets, which requires appraisers to further provide information about the equity value, and even require appraisers to analyze the added value brought by the integration of the target enterprise and the enterprise. At the same time, the capital market needs more enterprise value evaluation represented by evaluating the overall profitability.
3. Quantify enterprise value, check assets and manage dynamically.
It is very important for every company manager to know the specific value of his company and the ins and outs of calculating the value. Under the planned economy system, enterprises are generally concerned about the management of tangible assets, but often ignore intangible assets. Under the market economy system, intangible assets are paid more and more attention, and are regarded as the important wealth of enterprises. In foreign countries, the value of intangible assets of some high-tech industries is much higher than that of tangible assets, and the value of intangible assets of high-tech industries in China is also considerable. Entrepreneurs who want to know their family background clearly in order to strengthen management need to make a fair evaluation of the enterprise value through evaluation agencies.
4. The board of directors and the general meeting of shareholders need to know the effect of production and business activities.
The goal of corporate financial management is to maximize corporate value. Whether the company's various business decisions are feasible depends on whether this decision is conducive to increasing the company's value.
It is one-sided for management to measure the company's operating results only by the company's current financial statements. Correctly implementing value maximization management through value evaluation is an important means to promote the sustainable development of enterprises in China.
5. Enterprise value evaluation is an important prerequisite for investment decision-making.
The position of enterprise as the main body of investment in market economy is clear, but to ensure the rationality of investment behavior, it is necessary to have a correct evaluation of the present value of enterprise assets. With the development of China's market economy, it is very common to form an optimal combination of tangible assets and intangible assets such as patent technology, proprietary technology and trademark rights in various economic activities of enterprises. Joint ventures and partners must quantify these intangible assets when making decisions, and intangible assets will be evaluated objectively and fairly by evaluation agencies. The evaluation result is not only an important basis for investors to negotiate with the investee, but also an objective standard for the investee to determine its intangible capital value.
6. Expand the means to improve the influence of enterprises and show their development strength.
With people's increasing attention to corporate image, promoting brand-name trademarks has become an important way for enterprises to go international. Enterprises have a large number of intangible assets, which have created excess profits for enterprises beyond ordinary means of production and production conditions, but their value reflected in the books is negligible. Therefore, enterprise value evaluation and publicity are important means to strengthen corporate image and show development strength.
7, increase enterprise cohesion
Enterprise value should not only convey the healthy state and development trend of the enterprise to people outside the company, but also convey enterprise information to employees at all levels within the company, and cultivate employees' loyalty to the enterprise, so as to achieve the purpose of rallying people's hearts.
Question 7: What is the scope of enterprise value evaluation? Enterprise value evaluation is the product of modern market economy, which is produced and developed to meet the needs of frequent economic activities such as enterprise restructuring, company listing, enterprise merger and acquisition, and transnational operation. Due to the particularity and complexity of the appraisal object, it has become an asset appraisal business with wide coverage and strong technology.
The general scope of enterprise value evaluation is the asset scope of the enterprise. From the perspective of property rights, the scope of enterprise value evaluation should be all assets of the enterprise. Including the part owned and operated by the enterprise property rights subject, the part controlled by the enterprise property rights subject, such as wholly-owned subsidiaries, holding subsidiaries and investment parts in non-holding companies.
The specific scope of enterprise value evaluation. After defining the general scope of enterprise value evaluation, the defined enterprise asset scope cannot be directly used as the specific asset scope of enterprise value evaluation. Because the enterprise value is based on the overall profitability of the enterprise. Therefore, judging the enterprise value is to correctly analyze and judge the profitability of the enterprise. Enterprise is an asset complex composed of various single assets, which have different contributions to the formation of enterprise profitability. Among them, the assets that contribute to the formation of enterprise profitability are effective assets of the enterprise, while the assets that do not contribute to or even weaken the formation of enterprise profitability are invalid assets of the enterprise. The profitability of an enterprise is the result of the interaction of its effective assets. To correctly reveal the enterprise value, it is necessary to correctly define and distinguish the effective assets and invalid assets within the enterprise assets, and take the effective assets of the enterprise as the specific asset range for evaluating the enterprise value. This distinction is an important prerequisite for enterprise value evaluation.
Question 8: What is the maximization of enterprise value? Maximizing the value of an enterprise refers to maximizing the total value of an enterprise on the basis of ensuring the long-term stable development of the enterprise by adopting the optimal financial policy and fully considering the time value of funds and the relationship between risk and reward. Financial management, second edition of the National People's Congress.
References:
Financial management, National People's Congress Third Edition.
Question 9: What are the factors that affect the enterprise value? This is the content of financial management.
Enterprise value is the market value of the enterprise, the present value of the expected future cash flow that the enterprise can create, and reflects the potential or expected profitability and growth ability of the enterprise.
Enterprise value includes the time value and risk value of funds, because the forecast of future cash flow includes uncertainty and risk factors, and the present value of cash flow is calculated by discounting cash flow according to the time value of funds.