Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

Research on the Choice of Enterprise Value Investment under the COVID-19 Epidemic: A Case Study of Chinese Liquor Industry

Authors
Zhendong Huang1, , *, Han Xiao2, , Saiqian Xu3,
1Zhengzhou university international college, Zhengzhou,450000;
2School of Economics, Jilin University, Changchun, 130012, China;
3Monash University Business School, Clayton,3000, Australia;

These authors contributed equally.

*Correspondence: 541411035@qq.com
Corresponding Author
Zhendong Huang
Available Online 15 December 2021.
DOI
10.2991/assehr.k.211209.161How to use a DOI?
Keywords
COVID - 19 outbreak; Liquor-making industry; Value investment; Qualitative analysis; Quantitative analysis
Abstract

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.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
978-94-6239-483-4
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.161How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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  -