Font Size: a A A

E-commerce Business Valuation Method

Posted on:2006-10-21Degree:MasterType:Thesis
Country:ChinaCandidate:Y ZhaoFull Text:PDF
GTID:2206360152975897Subject:Accounting
Abstract/Summary:PDF Full Text Request
Internet develope quickly since the following half of 20th century and human beings come into information society. As main loader of internet economy, more and more e-commerce business come into being. Because of more cruelly competition than traditional business, many economic activities, such as financial activities and restructuring activities, emerged continuously. Furthermore, stock marketing price fluctuate wildly because most of e-commerce business's enormous investment and long-term nonprofit condition, which make investors can not make their decisions. It is necessary to assess value for e-commerce business objectively, but until today complete and convenient value evaluation system have not established . Title selection of the paper comes from country natural science fund important item whose title is "management theory and method under the circumstances of E-commerce "(Item number:70031020). The paper reclassify the sorts of e-commerce business from the view of operators and investors In order to find the sources of value generation, the paper analyze completely the value driving actors from both qualitative and quantitative aspect, which establish hard foundation for new idea of value evaluation. Considering the characteristics of e-commerce business having no profit, the paper modify the traditional discounted cash flow method from three aspects of enormous capital expenditure > free cash flow and net investment through analyzing deeply traditional discounted cash flow method and put forward a new conception of "simulated cash flow", which can be a good starting point and solve difficulties of value evaluation for e-commerce business mentioned above ,the modified evaluation method provide a special idea for value evaluation of e-commerce business. At last, author assess respectively the value of Amazon, com and Sina by modified discounted cash flow method , the result of analysis preliminary verify feasibility of evaluating method.
Keywords/Search Tags:E-commerce Business, Value Evaluation, Method Comparison, Discounted Cash Flow Method, Simulated Cash Flow
PDF Full Text Request
Related items