| Since twenty-first Century, the role of knowledge economy in the global economy has become increasingly prominent. Our introduction of various tax policies and government subsidies aims to encourage and support the development of high-tech enterprises, by the end of2014, the state-level economic and Technological Development Zone has reached114. In2009, Growth Enterprise Market(GEM) which had listed in Shenzhen has successfully set up to provide a new way of financing for high-tech enterprises. However, it should be noticed that there are such problems of high issue price, high price earnings ratio, merit raise in the GEM show that China’s GEM market exists serious deviation from the value of the price phenomenon. Considering the effect of late development of high-tech enterprises, value-added technological product and high risk factors, it makes difficulty assessing the value of high-tech enterprises. Therefore, the value evaluation of high-tech enterprises can provide useful information for Stakeholder, but also it is conducive to the healthy development of high-tech enterprises.The biggest difference between high-tech enterprises and the traditional form is accounted for by the potential opportunity value proportion to the value of high-tech enterprises, high-tech enterprise value consist of the profitability of existing assets and the potential investment opportunity value. Firstly, there are limitations to evaluate the high-tech enterprise after factor analysis that the traditional methods to assess the value of high-tech enterprises. Secondly, based on the analysis of value composition and characteristics of real options, it can assess the presence of high-tech enterprises of the value of the uncertainty, but the traditional method of cash flow method because of ignoring the value of timing investment option, so it can not be achieved only assess the value of high-tech enterprises. Furthermore, combined with the value characteristics of Eve as specific example explain the whole evaluation process, evaluation after completion of further analysis of the corporate value evaluation results and the stock market value of the different and points out the problems in the evaluation.Finally, a summary of the research and points makes out the innovations and shortcomings. |
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