Study On Method Of High-Tech Business Valuation

At present global economy is changing rapidly, scientific technology play more and more important role in economy and social development than before. The new global economy ,which is driven by knowledge, is becoming the new trend of the global economy's development. In the last few years hi-tech companies are developing rapidly in our country, with its increasing scale and quantities and the large proportion in national economy constitute, which effectively optimized the economy structure. Being the main force of stimulating national economic growth, the hi-tech industry has already become important composition of pushing our country economic growth. However, facing the drastic change in the international and domestic competitive environment, the majority of the domestic hi-tech business must meet the challenge of living in the competition.The thesis is based on the Hi-Tec industries' total evaluation. This thesis looks the classic theory of valuation as the basic, introduce some business valuation methods, including cost, market, profit and option methods etc, and make a compare with these methods. The proper valuation methods are chosen after taking consideration of the characteristics of high-tech business of different phrase and domain type .The paper discusses the value source and the special requirements to high-tech business. The aggregation of valuation methods is selected according to the valuation characteristics of high-tech business.In a word, through analyzing all kinds of evaluation methods, advantages and disadvantages probing how to evaluate Hi-Tec business' value on different situation. This thesis consists of five chapters: Chapter One Forewords introduces the researching backgrounds, significance and summarizes some literature. Chapter Two, through the discussion of concept characteristic of business, value of business valuation and analysis of relative concept about business valuation, make clear the basic orientation. Chapter Three Valuation Models, Models, discusses absolute and relative valuation models. Chapter Four Application Analysis, points out how to select and make use of valuation models. In this part, Inside a public traded firm, make a comprehensive analysis of the business and estimate its valuation by various models. Chapter Five Conclusion makes a brief summing-up of models' applicability in our country based on the above analysis.