Enterprise Value Valuation-BYD as an Example Based on SWOT Model and Multiple Regression Model

BYD is one of the largest new energy vehicle companies in China.Analyzing its scenario and the factors that affect its value helps to understand and identify development opportunities and potential problems.On one hand,this paper makes a qualitative analysis of BYD,using SWOT model to study the internal capability and external environment of BYD.On the other hand,the multiple regression model is used for quantitative analysis of BYD’s enterprise value,and the model is established based on three factors:enterprise fundamentals,investor behavior and psychology,and macroeconomic policy uncertainty,and the stepwise regression is carried out.The results show that the increase of institutional investors’shareholding ratio,the increase of investor sentiment index,and the increase of M2 growth rate will increase the overall enterprise value,while the increase of economic policy uncertainty will decrease the enterprise value.

Profit Allocation Scheme among Partners in Virtual Enterprises Based on Fuzzy Shapley Values

Fuzzy Shapley values are developed based on classical Shapley values and used to allocate profit among partners in virtual enterprises （VE）. Axioms of the classical Shapley value are extended to Shapley values with fuzzy payoffs by using fuzzy sets theory. Fuzzy Shapley function is defined based on these extended axioms. From the viewpoint the allocation for each partner should be a crisp value rather a fuzzy membership function at the end of cooperation, a crisp allocation scheme based on fuzzy Shapley values is proposed.

Booming or sinking: How does an emission trading scheme affect enterprise value?

Unlike prior research that shows climate policy improves enterprise value,this study reveals the negative im‐pact of emission trading schemes(ETSs)on enterprise value under China’s unique institutional backdrop and identifies the mechanism through which this impact occurs.Data from a sample of 1267 listed companies in the Chinese stock market from 2005 to 2018 models are analyzed using difference-in-differences(DID)and propensity score matching methods(PSM).The results suggest that ETSs have an average short-term negative impact on enterprise value,which peaks in the second year of the ETS and diminishes from the fourth year.Further analysis reveals that ETSs did not cause significant operating losses for firms but reduced their value through the market response mechanism.ETS enterprises experienced significant declines in their annual stock transaction amounts and in returns on individual shares.This indicates that investors expect ETSs to ad‐versely affect pilot enterprises and accordingly adopt disinvestment strategies.Despite the short-term negative effect,ETSs effectively encourage enterprises to innovate green technologies to mitigate long-term carbon risk.

Strategic Deviance,Customer Concentration and Enterprise Value——A Case Study of Agricultural Listed Enterprises

From the perspective of strategy,this paper uses A-share agricultural listed companies( 2011-2016) as samples to study the impact of strategic deviance on enterprise value,to explore whether customer concentration plays a mediating effect. The results show that customer concentration plays a mediating effect in the relationship between strategic deviance and enterprise value. The strategic deviance is positively correlated with customer concentration and negatively correlated with enterprise value. The management of agricultural enterprises must pay attention to the customer relationship problems caused by strategic deviance,reduce the risk of enterprises,and gradually enhance the value of enterprises.

Analysis on the Effective Management and Enterprise Value Based on Employee and Customer Value

Value is the internal driving force for any corporate to obtain profits. The key issue of making profit lies on whether the corporate can truly appreciate the needs and combination of stakeholders＇ value, and establish a successful management of value exchange system. This paper starts with the theories of the employee and customer value measurement and management, followed by the value exchange system of employee-customer-organization. Therefore, it explains the status and role of employee-customer-organization in terms of value exchange. This work concludes that customers＇ satisfaction is determined by employees＇ satisfaction, and on that basis, customers would provide the promoted value to the organization.

Jiangsu's Top Enterprises with Import and Export Value of More Than US$ 200 Million in 1995

Name of the Enterprise1. Jiangsu Overseas Enterprises (Group) Co. Ltd2. Yizheng Chemical Fibers Co. Ltd3. Jiangsu Silk Products Imp. & Exp. (Group) Co. Ltd4. Jiangsu Garments Imp. & Exp. (Group) Co. Ltd5. Zhangjiagang Foreign Trading Company6. Jiangsu Textiles Imp. & Exp. (Group) Co.

A New Mode of Enterprise Management -Value Enterprise Management

In the development of modern enterprises,the management mode is the main factor that determines the height of its development,so it is highly valued.The traditional management mode has many disadvantages,which can not comply with the development trend of the current market economy,which leads to the slow improvement of enterprise management level,which is not conducive to the operation and development of enterprises.The proposal of the concept of value-oriented enterprise management has become a new mode of enterprise management,which is helpful to speed up the reform process of enterprises and enhance their development vitality.Therefore,we should clarify the key points of the construction of the model and gradually improve the level of management.This paper analyzes the concept of value enterprise management,puts forward the application status and classification of value enterprise management model,and explores the construction strategy of value enterprise management model.

Empirical Research on Relationship between Corporate Brand Value and Apparel Market Sales Revenue of Apparel Enterprise

Among the existing researches on brand value,few of them focused on the demands of the companies in the clothing industry to brand value. There were three innovation points as follows: first of all,two key demands of apparel companies to existing brand value were summarized through investigation; then,the concept of rapid brand value evaluation and multi-dimensional factors( MDFs) was presented; finally,the relationship between apparel corporate brand value and the sales revenue in apparel market with the sales revenue was proven by empirical research.During the process of empirical study,the sales revenue data of 66 apparel enterprises domestic and abroad were collected,and the regression analysis has been done on the relationship between the corporate brand value and the apparel market sales revenue of apparel enterprise. The empirical research showed that they were positively correlated to each other. This conclusion presented a method of judging brand value development trend quickly by single indicator.

Stakeholders＇ Value Proposition Research in the Enterprise Synergy Innovation

Service dominant logic is one brand new economy model and it consider all the participators to be the potential resource integrators. The enterprise should put forward the value proposition with open attitude to achieve the enterprise synergy innovation. This paper analyses the value proposition on the stakeholders in the enterprise synergy innovation and expand the one way value proposition theory to the different stakeholder groups inside and outside of the enterprise. The theoretical significance of this paper is to provide the theoretical reference for the enterprise synergy innovation to establish sustainable and stable stakeholders＇ relationship.

Study on Coordinated Development of Regions Based on the Construction of Enterprise Value Network

Under the background of constructing harmonious economic society, how to realize the coordinated development of regions in the course of region integration is a key problem. According to the relevant theory of enterprise gene reconfiguration and enterprise value network construction, we analyzed the problems in the merging course between the value network construction and region economic growth. Finally, we put forward the basic path of coordinated development of regions.

Evaluation System for High-tech Enterprises'Value Based on Empirical Analysis in China

High-tech industry has become the strategic and leading industry of the national economic and social development, and it is also the main driving force for economic growth and social progress in China. It is necessary to redefine the composition of high-tech enterprises'value and thus find the ways to maximize their value. This paper attempted to address the following set of questions: 1. What are the value drivers and how do they affect high-tech enterprises'value? 2. How to establish the value appraisal measure system of high-tech enterprise?

The value-added of industrial enterprises above designated size increases by 3.9%in April 2020

In April,the actual value added of the industrial enterprises above designated size increased by 3.9%yearon-year(the growth rate of the following value added is the actual growth rate after deducting price factors),and it decreased by 1.1%last month.

Developing Statistical Modellings to Investigate the Internal Drivers for the Trend of Output Values in the Manufacturing Industry:Evidence from Chinese Enterprises

The manufacturing industry is an important pillar of the national economy.It is of vital importance to develop statistical modellings in order to quantify the relationship between potential internal drivers and the trend of output values in the manufacturing industry.However,only a few statistical modellings have been established to investigate such associations.This study developed the correlation coefficient model and generalized linear model(GLM)to measure the single and interactive effects of the internal drivers on the changes of the output values.For the GLM,different predictive variables were developed to fit into the dataset,and the performance of the models were compared using fitness parameters.Furthermore,an industry survey dataset for 1,180 manufacturing enterprises in 2020 was used to validate the models.The use of the GLM combining land area,number of employees,scientific research input,and labor productivity may have a great potential to bolster capacity in monitoring and predicting the trend of output values in the manufacture industry.

Research on Enterprise Value Chain Management Based on Competitive Strategy

With the rising cost of labor factors in China,several multinational companies that rely on labor-intensive industries have withdrawn their production lines from China,which has had a huge impact on the development of Chinese enterprises.Under the guidance of national policies,many enterprises have begun to climb to the high end of the value chain.This paper analyzes the main function of value chain management by studying the composition of industry value chain management from the perspective of competitive strategy.In view of the lack of enterprise value chain management,this paper discusses from three aspects:product,technology,and price.Product homogeneity has been found to greatly reduce the market competitiveness of products,which is not conducive to the value-added and sustainable development of enterprises.Based on this,corresponding strategies have been proposed,in which enterprises should maximize the advantages of value chain management through scientific and efficient information management techniques.

Pearl S. Buck’s Values of “Cultural Convergence” and Their Application

The typical features of internal and external integration of cultures as revealed by the conception of“cultural convergence”provide a new perspective on the study of cultural exchanges and mutual learning.In the context of“a global community of shared future for humankind”,this paper adopts the novel idea of“cultural convergence”to probe the growth of Pearl S.Buck’s cultural values and the specific contents and representation of Pearl S.Buck’s conception of“cultural convergence”,highlighting the application of Pearl S.Buck’s values to cultural education,growth and success,family education,cultural exchanges,humanistic practices,etc.Feasible suggestions and countermeasures are put forward to better promote the cultural exchanges and mutual learning as well as the convergence of different cultures.

Emotional Value Care to Promote Emotional Communication Between Teachers and Students Under the New Era of Education Mode

With the development of the times and the progress of the society,the ancient education mode can no longer meet the requirements of the times.The concept of educating people must keep pace with the times.The way teachers and students get along is no longer like in ancient times,where teachers teach students to listen.In the new era,it is necessary to build a new model of interaction between teachers and students.If educators pay attention and come to understand students’psychology,listen to students’aspirations,tend to students’emotions,grow in love for education,and treat students from their hearts,they would be able to win the favor of students.Paying attention to students’emotional value can promote emotional communication between teachers and students.It is possible to adapt to the requirements of the new era for the construction of morality and ethics among teachers by caring for students’emotional value.

Prognostic Value of Semi-Quantitative 18F-FDG PET/CT Parameters in Hodgkin’s Lymphoma

Objective:To assess the prognostic value of maximum standardized uptake value(SUVmax),metabolic tumor volume(MTV),and total lesion glycolysis(TLG)determined by 18F-fluorodeoxyglucose positron emission tomography-computed tomography(18F-FDG PET/CT)imaging in Hodgkin’s lymphoma patients.Methods:A total of 148 Hodgkin’s lymphoma patients diagnosed with lymph node biopsy from October 2014 to October 2015 were retrospectively analyzed followed by categorizing into good(125 cases)and poor(23 cases)prognosis groups.The chi-squared test was used to analyze the clinicopathological characteristics of Hodgkin’s lymphoma patients with the semi-quantitative 18F-FDG PET/CT parameters;the Spearman method was used to analyze the correlation between the semi-quantitative parameters and clinicopathological features of Hodgkin’s lymphoma;receiver operating characteristic curve was used to analyze the predictive value of the semi-quantitative parameters for poor prognosis of Hodgkin’s lymphoma patients.Results:Mean SUVmax,MTV,and TLG of the 148 cases of Hodgkin’s lymphoma were 7.26±2.38,12.46±3.14 cm3,and 76.83±18.56 g,respectively.Significant variations in the Ann Arbor stage and clinical classification were observed with different levels of semi-quantitative parameters(P<0.05).The semi-quantitative parameters were not correlated with age and gender(P>0.05)but positively correlated with Ann Arbor stage and clinical classification(P<0.05).These parameters in the poor prognosis group were higher than those in the good prognosis group(P<0.05).The area under the curve(AUC)of SUVmax,MTV,and TLG in predicting the poor prognosis group was 0.881,0.875,and 0.838,with cut-off values of 7.264,12.898 cm3,and 74.580g,as well as specificity of 88.8%,84.0%,and 78.4%,and sensitivity of 87.0%,87.0%,and 78.3%,respectively;the AUC of the combined prediction was 0.986,with a specificity of 97.6%and sensitivity of 86.3%.Conclusion:The semi-quantitative 18F-FDG PET/CT parameters provide valuable insights for Hodgkin’s lymphoma prognosis assessment.

The evaluation of enterprise performance based on EVA

EVA as a new type of performance evaluation indicators, to overcome the limitation of the traditional accounting profit performance evaluation index, in the calculation of the cost of capital for companies, not only to consider the cost of debt capital, but also consider the cost of equity capital, reasonable and objective evaluation of the performance of business, reflect the real value creation, meet the shareholder wealth maximization financial goals. This paper introduces the meaning and calculation method of EVA, focused on the analysis of the advantages of EVA performance evaluation, and also points out some limitations of EVA, in the hope that after the practice can improve continuously.

环保考核、ESG表现与企业价值——基于领导干部自然资源资产离任审计试点的准自然实验

基于利益相关者理论和信号传递理论,以2010—2019年我国A股上市公司为研究对象,采用多期双重差分模型的准自然实验,考察领导干部自然资源资产离任审计这一新型环保考核制度对企业价值的影响及其作用机制。研究发现:(1)领导干部自然资源资产离任审计能够提高企业价值;(2)领导干部自然资源资产离任审计可以通过提高企业ESG表现进而提高企业价值;(3)进一步分析结果表明:离任审计对企业价值的影响在非重污染企业、媒体关注度较低地区、绿色金融水平较低地区中更为显著。研究结果为如何健全领导干部环保考核机制,更好地激励地方领导干部实施可持续发展战略,促进经济社会全面发展提供参考。同时对离任审计的深化落实具有重要意义,有助于更好地改善环境质量,推动经济的高质量发展。

2022年四川芦山M_(S)6.1地震前应力状态研究

为研究2022年6月1日四川芦山M_(S)6.1地震的孕育和发生过程,采用CAP方法反演了2013年芦山M_(S)7.0主震及M_(S)≥5.0余震的震源机制解,并基于应力张量方差与b值时空分布特征,探讨了芦山M_(S)6.1地震的力学机制和震源区的应力状态。结果表明:2022年芦山M_(S)6.1地震震源机制表现出与2013年芦山M_(S)7.0主震和5级余震相似的逆冲型破裂特征,压应力轴方位与龙门山断裂带南段区域应力场一致。2013年芦山M_(S)7.0地震后震中及附近的应力张量方差和b值长期处于低值状态,2022年芦山M_(S)6.1地震前震中及附近出现了应力张量方差和b值的低值异常,表明芦山余震区处于较高的应力水平。分析认为:巴颜喀拉块体持续东向运动受到华南块体的阻挡,震中所在区域长期受挤压逆冲作用,从而使芦山余震区长期处于应力积累的状态,芦山M_(S)6.1地震也是在这种动力学背景下发生的。