Dissertation
Dissertation > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management

The Study of Business Value Maximization and the Way to Increase it

Author ZhangSuRong
Tutor ZhaoXi
School Tianjin University
Course Business Administration
Keywords Enterprise value maximization Discounted cash flow model Weighted average cost of capital Business value chain Financial Value Chain
CLC F275
Type Master's thesis
Year 2004
Downloads 912
Quotes 8
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With economic development , survival of the fittest among enterprises , mergers and acquisitions , restructuring , have been common. In the competition, the business objectives changed from the original into the pursuit of profit-maximizing enterprise value maximization. With the change in business objectives , corporate management activities also changing. From the traditional management model into value management mode. No matter what size enterprises , which have been in the pursuit of economic components are in the process to maximize enterprise value for enterprise development to find ways to find key factor in business success , thereby enhancing the enterprise's core competitiveness, and increase enterprise value . Firstly, from the enterprise value of the background , analyzes the theory of the firm and MM theory, the enterprise value of the theoretical basis of the value of cash flow management, and the importance of the value management . And analyzes the significance of the research enterprise value . Secondly , the paper value management , based on the analysis of the enterprise value maximization as the most reasonable business objectives and maximize enterprise value connotation ; From a macro (PEST analysis ) , meso ( industry structure analysis ) and micro ( enterprise life cycle , cash flow, capital costs, etc. ) perspective of the enterprise value of the influencing factors ; combined with China's actual situation , this paper proposes a method for the assessment of enterprise value , discounted cash flow analysis , EVA method, replacement value replacement method and so on. Finally, China's actual situation , analyze ways to improve corporate value is to optimize enterprise business value chain and value chain and achieve both financial coordination . Haier Group, the company's business activities, for example , an analysis of its business activities and financial activities impact on corporate value .

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