The Study on the Business Valuation & Value Creation Strategies– A Case Study on S Company of Automobile Parts Industry in Taiwan.

• Main Authors: Wang, Ya-Hui, 王雅惠
• Other Authors: Chan, Chia-Chung
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/zw4t74

碩士 === 東海大學 === 財務金融學系碩士在職專班 === 104 === As the quality of life is consistently improved, consumers’ demand for vehicle functions increased as well, especially the needs for the function of security, comfortability and environmental awareness. Moreover, governments from each corner of the world enact the laws voluntarily in order to meet the standard of equipments and examinations, which brings a great positive impact on vehicle electronics. We possess an advantage of advanced communication industry and high internet technology in Taiwan, and that is the reason why we are leading in the cars and auto parts assembly line. In order to understand deeply how the industry could succeed in creating the enterprise value, this study adopts the case study research as the study method. We utilise the Discounted Cash Flow Method and Economic Profit Model which are used usually in circles of practice. And we evaluate the value according to three different hypothetical situations: optimistic, neutral and pessimistic situation. After that, by adopting Sensitivity Analysis Method, we are able to discover the determinants of the valuation of the case enterprise. In conclusion, it shows that the determinants of the valuation of each enterprise mainly consist of operating costs, operating expenses and weighted average cost of capital (WACC). Therefore, to advise a value creation, these three elements are highly recommended to be taken into consideration when business owners make business decision in the future.