| Summary: | 碩士 === 亞洲大學 === 財務金融學系碩士在職專班 === 105 === This study aimed to explore how to enhance the enterprise value of the automotive industry and to find out the key value drivers. This study took Yulon Motor Co., Ltd. and Hotai Motor Co., Ltd. as smaples. Then, the Discounted Cash Flow Method, P/E Ratio, P/A Ratio and P/EBIT Ratio were utilized, and the evaluation based day is December 30, 2016. Sensitivity analysis were also used to examine the influence of each value driver on enereprise value. The empirical results were hoped to give references to the samples or someone that is interest in the automotive industry. Our empirical results were as follows:
1. The importance of value drivers of Yulon Motor Co., Ltd. were in sequence as follows: (1) revenue growth rario; (2) gross profit margin; (3) the change of cost of capital.
2. The importance of value drivers of Hotai Motor Co., Ltd. were in sequence as follows: (1) revenue growth rario; (2) the change of cost of capital; (3) gross profit margin.
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