Research on the Choice of Enterprise Value Investment under the COVID-19 Epidemic: A Case Study of Chinese Liquor Industry
These authors contributed equally.
- 10.2991/assehr.k.211209.161How to use a DOI?
- COVID - 19 outbreak; Liquor-making industry; Value investment; Qualitative analysis; Quantitative analysis
The liquor-making industry has special social status and economic value in China, which is an essential part of the national economy. The COVID-19 epidemic spread around the world in 2020, resulting in a decrease in the consumption demand for baijiu and a subsequent decline in baijiu stock prices.This paper selects Guizhou Mao Tai, Wu Liangye, and Yang He as the research objects. It uses the combination of quantitative and qualitative research to do further research on enterprise value investment under the COVID-19 epidemic. The research results show that: First,in terms of the company’s financial position, Moutai is the best in terms of profitability, debt paying ability and operational ability and Mao Tai and Wu Liangye are even in development ability; Second, from the company’s investment value, the price-earnings ratio of the three companies has increased year by year, compared with the higher price-earnings ratio and a price-to-book ratio of Mao Tai; Thirdly, through SWOT analysis, we found that Mao Tai has advantages in terms of technical uniqueness and corporate positioning, but has disadvantages in terms of production duration and management efficiency, and is facing the challenges of raw material supply and corporate competition. Finally, the conclusion is drawn that, from the perspective of quantitative analysis, Guizhou Mao Tai among the three enterprises has the stronger overall operating capacity and more investment advantages. From the qualitative analysis, in the development of Mao Tai, the internal and external strategic environment will continue to promote its market share. The results show that among the three enterprises, Mao Tai has more investment value. The study of value investment choice in this paper has important theoretical and practical significance.
- © 2021 The Authors. Published by Atlantis Press International B.V.
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Cite this article
TY - CONF AU - Zhendong Huang AU - Han Xiao AU - Saiqian Xu PY - 2021 DA - 2021/12/15 TI - Research on the Choice of Enterprise Value Investment under the COVID-19 Epidemic: A Case Study of Chinese Liquor Industry BT - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) PB - Atlantis Press SP - 982 EP - 994 SN - 2352-5428 UR - https://doi.org/10.2991/assehr.k.211209.161 DO - 10.2991/assehr.k.211209.161 ID - Huang2021 ER -