Study Of Valuation Method For High-tech Enterprise

At present China's development of economy is good, enterprise's merger and acquisition, reorganization, investment, financing, and so on occur from time to time. High-tech companies as the most competitive enterprises of the capital operation is active, but the valuation of high-tech enterprises-it is the foundation of capital market, it is hot spot and the difficulty.This article in the analysis growth high technology and new technology enterprise's characteristic, as well as in each kind of appraisal method adaptation situation's foundation, proposed applies two stage commutation cash flow model to take the fundamental model, and carries on the revision, thus establishment growth high technology and new technology enterprise value appraisal method, system.This paper described the current enterprise value assessment of the status quo and to assess various methods of comparison that discounted cash flow method suitable for China's growing high-tech enterprises evaluation concluded. Then the analysis high technology and new technology enterprise's characteristic, the high technology and new technology enterprise value constitution, thought how the appraisal high technology and new technology enterprise value the key will appraise in the future the superior earnings opportunity value. This article application enterprise essential value actuation factor theoretical analysis influence high technology and new technology enterprise in the future superior earnings' key aspect, and through the analytic hierarchy process and the fuzzy judgment method appraisal essential value actuation factor, and the enterprise value key actuation factor to superior earnings' influence with the income earning rate of increment establishment relations, through will realize finally to the basic commutation model's revision to the superior earnings opportunity value appraisal.In the case study, this article selected the KDXF, according to the model which established realizes to KDXF's value assessment has confirmed the model that is feasible and practical.