Study On The Value Theory And Valuation Methods Of The E-Commerce Enterprises

In China,sustainable development of Internet Economy and E-Commerce is in good shape e-commerce.E-commerce have become one of the top ten web applications,as the important network applications,which is closely related to Internet users,really have begun to gradually toward to all aspects of business activitives and all fields.Accompanied by generation and development of a growing number of e-commerce businesses,e-commerce venture capitalist enterprises have become the favored target.For all investors,how to assess the true value of e-commerce businesses is major problem in front of them.To establish a set of the theoretical system and assessment methods for the value of e-commerce businesses,become the key issue in the process of venture capital investing.The paper orderly overviews the literature about the value of assessment of domestic and foreign companies,then points out the status quo and existing problems of valuation theory and its model of enterprises,especially high-tech enterprise.It puts forward that the basic value theory of e-commerce enterprise is oriented by customer lifetime value theory in Network Economy,and adopt a customer-based assessment model of enterprise value(CLV model) for the assessment instrument.The model considers the customer growing in the number of random distribution services and customers changing in the number of divergent from a different perspective,and brings up the possibility of the distribution of quantity.For the existence of positive feedback situation,network externality effect and corporate bankruptcy cases probably occurred of E-commerce businesses, the model should be amended from three facts:future changes in tree status,the value of all our customers' backward method and the discount method to calculate three aspects of enterprise value.Obtained through research in this article,e-commerce enterprise customers are the source of profits and investment value.Customer lifetime value theory provide a new paradigm for e-commerce enterprise value assessment methods. Number of customers multiplied by B cash flow with each customer in each period of generated is the total customer value.Then,it selects an appropriate risk-adjusted discount rate,to calculate the value of all our customers during the process of backward by one by one.At the same time,coupled with the current node generated by the customer cash flow so to assess customer lifetime value,this is business value.Finally,the author makes a conclusion of the Value Theory and Valuation Methods,and advance further study and possible directions in future.