The Influence of Carbon Emission Disclosure On Enterprise Value Under Ownership Heterogeneity: Evidence From The Heavy Polluting Corporations

China has put forward the goals of “Emission Peak” and “Carbon Neutrality”. Therefore, whether the restriction of carbon information disclosure could promote the transformation and upgrading of heavily polluting corporations to raise their value and realize the “double carbon” goal is a problem worthy of in-depth study. This article analyzed the impact of carbon information disclosure on the enterprise value of heavily polluting corporations based on the perspective of ownership structure heterogeneity. The paper discussed the moderating effect of carbon information disclosure on enterprise value taking into account government environmental regulations, media evaluation, and corporate image management based on the Gatekeeper Theory. This article found that carbon information disclosure and enterprise value have a “U-shaped” relationship in the short term and a positive correlation in the long term. The government environmental regulation, media evaluation, and corporate image management produced different moderating effects under the difference in ownership structure. Government environmental regulations, media evaluation, and corporate image management made significant moderating effects on state-owned corporations in the short term, while they have no significant moderating effect in the long term. The results also showed that there were no significant effects on private corporations. In order to push heavily polluting corporations to implement environmental protection measures, government and corporations are necessary to promote the long-term mechanism of sustainable cleaner production.

Financial Modernization Act - Enterprise value and Reputation

The Financial Service Modernization Act of 1999 has been crucial to the financial service industry ever since its creation. There are two primary reasons this Act was mandated to aid the financial service industry- the merger/barrier reason and consumer privacy reason. This paper evaluates whether this policy has achieved this object and how the effect the policy has had on the financial service industry compares to the non-policy effect on wholesale trade industry, retail trade industry and service industry. This paper finds that this policy is one of the significant reasons, If not the primary reason, for the increase in the Enterprise Value (EV) of firms within the financial service industries over the industries. Furthermore, the findings suggest that customer complaints may have lessened within the financial service industries more than Wholesale and Retail trade industries but not the service industries.

Artificial Intelligence Assists the Construction of Quantitative Model for the High-Quality Development of Modern Enterprises

Artificial intelligence companies are different from traditional labor-intensive and capital-intensive companies in that their core competitiveness lies in technology, knowledge, and manpower. Enterprises show the characteristics of a high proportion of intangible assets, strong profitability, and rapid growth. At the same time, there are also the characteristics of high risk and high uncertainty. In addition to the existing value brought by existing profitability, corporate value should also consider the potential value brought by potential profitability. Enterprise value is affected by many factors such as profitability, growth ability, innovation ability, and external environment. Traditional valuation techniques are often utilised to value artificial intelligence businesses in the present market. Traditional valuation methods ignore the dynamics and uncertainties of artificial intelligence enterprise value evaluation, make static and single predictions of future earnings, ignore the value of enterprise management flexibility, and are unable to assess the intrinsic value of artificial intelligence businesses. Based on the projection pursuit method, this paper constructs a modern high-quality development enterprise high-quality development evaluation model, uses real-code accelerated genetic algorithm to optimize the projection objective function, and calculates the best projection direction vector and projection value. The collected sample data can be imported into the evaluation model to calculate the comprehensive evaluation value of the high-quality development of modern high-quality development enterprises and the weights of various indicators included. By comparing the size of the comprehensive evaluation value, each sample can be calculated Evaluation of the level of high-quality development. The results show that the high-quality development level of China’s overall economy is on the rise, but the level of development is still low, and there is a large gap between the development level of the eastern region and the central and western regions. Using the systematic generalized moment estimation method, empirically, we analyse the impact of artificial intelligence on the high-quality economic development. The results show that artificial intelligence at the national level and in the central and western regions will significantly promote high-quality economic development, while artificial intelligence in the eastern region has a significant inhibitory effect on high-quality economic development.

An Analysis of Internet Enterprise Value Evaluation Method Based on ARIMA

With the rapid development of the times, the Internet has been deeply integrated into various fields, and many Internet companies have emerged at the historic moment, and economic activities such as mergers, reorganizations, acquisitions, issuance and listing, equity swaps, mortgages, bankruptcy and liquidation of Internet companies have also increased frequently. This has led to more and more value evaluation activities related to Internet companies, and the business model of Internet companies is different from traditional companies, so traditional corporate value evaluation methods cannot fully meet the special requirements of Internet company value evaluation. Therefore, we need to establish a sound Internet enterprise value evaluation system, and use more scientific and reasonable evaluation methods to ensure the interests of all parties to the transaction. Starting from the operating characteristics of Internet companies, this article analyzes the characteristics and difficulties of Internet corporate value evaluation, clarifies the effectiveness and limitations of the income method in Internet enterprise value evaluation, introduces the ARIMA model to improve the traditional income method and takes NetEase as an example. This method is applied to practice to verify its feasibility. So as to provide a scientific and reliable reference basis for Internet enterprise value evaluation.

Assessing impact of determinants on enterprise value in producing and processing industries

The article is devoted to studying the evaluation of the determinant factors of the value of state-owned companies, which present the competitive and investment-attractive segment of the economy with high export potential. There are considered the applied aspects of the problem and the influence of financial and non-financial factors on the value of companies, such as: return on assets, return on equity, return on invested capital, leverage, earnings per share, dividends per share, company size, company age, share of fixed assets. The research hypothesis that the selected determinants are significant and affect the value of companies with state participation are examined. The analysis is based on data from public reports of Russian producing and processing companies. The sample includes the data for 2010-2019. Companies with state participation and industry affiliation were selected; a database of indicators of financial statements of selected companies was formed; the financial indicators-factors have been calculated; the relationship of factors with the resulting indicator is determined. It has been inferred that the determinants “earnings per share” and “net working capital” are statistically significant and have an impact on the enterprise value in the industry under study

Analyzing the Impact of Corporate Governance Factors on Enterprise Value and Capitalization

Subject. The article focuses on business valuation methods and factors with reference to corporate governance principles. Objectives. I analyze how corporate governance factors influence the value and capitalization of public joint-stock companies, and make my suggestions concerning financial and administrative decisions in line with value-based management. Methods. The study is based on methods of synthesis, deduction, induction, statistical analysis, comparison and generalization. Results. Having analyzed the impact of such factors, as revenue, dividends paid, return on sale and equity, for an 11-year life span (2009–2019), on capitalization and value of the population made up of 20 Russian public joint-stock companies from four sectors, as classified by the number of owners and State interest, I figured out that capitalization enterprise value in Russia most of all depend on indicators of companies if it has 11 owners and more (71%), companies without the State interest (67%). As for basic factors, these are revenue and dividend policy that have the strongest effect on enterprise value, while capitalization depends on all the analyzable factors. Conclusions and Relevance. Currently, business valuation and business valuation management are critical for making correct strategic administrative decision. Doing so, the appraiser shall not only measure enterprise value with available financial results, but also consider its various non-financial indicators, which inter alia include corporate governance. Based on corporate governance principles set forth in the Letter of the Bank of Russia, I pointed out that definitely influence the enterprise value. Based on the above analysis, I determined what best results the Russian public joint-stock companies can attain in their corporate governance by sector, the number and quality of owners. Following the findings, I suggest how financial and administrative decisions on enterprise value management should be made, in line with the value-based management principles.

The methodology to assess the impact of corporate governance on the enterprise value

Subject. The article investigates pricing factors that determine the enterprise value with respect to the effect of corporate governance factors. Objectives. I analyze the impact of corporate governance factors on the enterprise value and build a technique for assessing the effect of corporate governance on the business valuation of the Russian public companies. Methods. The study relies upon the synthesis, deduction, induction, methods of statistical analysis, comparison and generalization. Results. I devised the method, which comprises five steps considering the effect of corporate governance factors on the enterprise value. Following the steps of the method, the specifics of the valuation subject is analyzed in terms of business and legal forms, the use of modern Russian corporate governance principles, the composition and the number of shareholders, industry the entity operates in, and fundamental metrics of the enterprise value. Conclusions and Relevance. Currently, there is few information in the literature about the impact of corporate governance principles set forth in the 2014 Corporate Governance Code, on business value. The article presents the method for assessing the impact of corporate governance on the business valuation, which accounts for the specifics of business and legal forms in terms of corporate governance principles, capital structure, the number of shareholders, the State’s involvement, industry, and fundamental metrics of business valuation. The proposed method can be used by financial analysts, appraisers, corporate managers so as to build and manage the enterprise value.

Environmental Regulation, Optimal Choice Strategy of Innovation Activities and Enterprise Value in Tobacco Control Cities

With the accelerating the pace of tobacco control legislation step by step, innovation is the primary driving force for development and we should pay attention to the construction of ecological civilization and unswervingly. In this context, tobacco production enterprises must carry out innovation activities. Based on the theory of value creation, this paper studies the relationship between the path of tobacco production enterprise innovation activities and enterprise value and the dynamic evolution process of enterprise innovation activities under the effect of environmental regulation from the perspective of theoretical deduction. The purpose is to provide an important reference for the choice of enterprise innovation activities, and at the same time enrich the theoretical research on the consequences of environmental regulation and the influencing factors of enterprise value. First, according to the process of value creation, the source of innovation results and the choice of strategies are studied to provide theoretical support for the primary link of tobacco production enterprise innovation activities. Second, study the application product types of innovation achievements and provide the selection basis for the important links of tobacco production enterprise innovation activities. Third, from the perspective of evolutionary economics, the equilibrium dynamic evolutionary game process between government environmental regulation and tobacco production enterprise innovation efficiency and innovation effect is discussed.