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A Study on the Development of Optimization Model for Enterprise Value Analysis

기업가치 분석을 위한 최적 모형 개발에 관한 연구

  • Gu, Seung-Hwan (Defense Agency for Technology and Quality) ;
  • Shin, Tack-Hyun (Department of Industrial & Information Systems Engineering, Seoul National University of Science and Technology) ;
  • Ibrokhimov, Bakhrom (Department of Industrial & Information Systems Engineering, Seoul National University of Science and Technology)
  • Received : 2015.06.10
  • Accepted : 2015.10.08
  • Published : 2015.10.31

Abstract

Investors analyze corporate value using the methodology trying to simultaneously satisfy the profitability and stability. In this study, comparing/combining the methodology of corporate value analysis to present a method of analyzing the optimal corporate value. The results of this study can be classified into two. First, it is a model derivation for corporate value analysis. EVA, AEM, and DDM models, to analyze the results, it was look in terms of profitability and stability. EVA and AEM model was stable than the market, profitability appear high, it was suitable to assess the value of the company. However, DDM, which is more stable than the market, profitability is low, it was not suitable. Secondly, by metering the existing methodology presented a new analysis method. A result of a combination of methodology was analyzed by deformation model, "AEM + DEA" and "DDM + DEA", "AEM + EVA", it was found that it is better than the market and the traditional model. AEM and DDM modified model was also found to be better than the market and the existing methodologies. This was reflected in a situation where a change in market environment based on, for being able to present an appropriate analytical method, it can find the suggestions of the study.

Keywords

Acknowledgement

Supported by : 서울과학기술대학교

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