A Validation Study Of Value Evaluation Method Of High-tech Enterprises In China

In twenty-first Century, the scientific and technological achievements of the explosive growth, high-tech enterprises as the backbone and the main form of the knowledge economy society are concerned. In recent years, along with our country to establish strong investment in innovation oriented country and of entrepreneurial environment greatly improved, as well as the enterprise through actively implement the strategy of going out, a large number of high-speed development high-tech enterprises such as Alibaba, Huawei are emergence of, they need through mergers and acquisitions to achieve international expansion, which requires the enterprise value assessment services. But the enterprise value evaluation theory system construction and application are still in the primary stage, practical application and theoretical development lack of practice and verified,Constraints of the assessment of our country industry development. In this situation, the new assessment theory is urgently needed to be verified and applied in order to adapt to the new situation and to improve the whole enterprise value evaluation theory system.This article on the research methods focus on various methods of, by reading a lot of literatures and collect large amounts of data, strive to achieve the combination of empirical research and normative research, the qualitative research and quantitative research. In the content, through the analysis of the application of traditional methods and new theory, first from the theory that the application of traditional methods and the inadequacy of high-tech enterprises value assessment, and by the limitations of the traditional method to introduce the real option theory, the development process and the advantages and disadvantages are introduced. Finally,using the traditional method and the real option method to evaluate a real case.Then compared and analyzed the results. In order to draw the actual situation of the traditional methods and new methods and to both in theoretical analysis on the advantages and disadvantages of verification, which is in the practice of China’s present situation of the application of rationality judgment and on the application of new theory to the role in promoting.Because of the enterprise value evaluation theory and practice has its particularity and complexity, the process of writing this article is also learning the knowledge the lack of understanding of the process, in the study, some special factors that influence the value in this paper did not is deeply studied and overall consideration, how to include various special cases of the correction system has not been explored, the practical cases selected yet only one, and the assessment model parameters determine the process somewhat simple,existing representative deficiencies and lack of convincing, but tree of theory is evergreen, need in future studies will continue to refine and summarize, in order to promote the theory and practice to promote mutual development.