| The era of knowledge economy, because of the high and new technology enterprise has its unique characteristics and the development of highly uncertain growth model, how to improve the reasonable accuracy of high and new technology enterprise value assessment is becoming a hot spot of the actual demands and the theoretical circle.This paper on the research background and significance of high and new technology enterprise value evaluation, and then systematically on the basic theory of enterprise value evaluation method and the method of high and new technology enterprise value evaluation at home and abroad has carried on the literature review, at the same time, through the comparative analysis of traditional enterprise value evaluation method in evaluating the advantages and disadvantages of high and new technology enterprise, points out the problems existing in the evaluation of high and new technology, after the analysis of the fuzzy mathematics method feasibility in the application of high and new technology enterprise value assessment, then expounds the related the basic definition and theory of fuzzy mathematics method, the establishment of the enterprise value evaluation model for fuzzy type to provide theoretical support. Combined with the high and new technology enterprise, a new concept for evaluation, put forward the fuzzy discount cash flow model and fuzzy real option pricing model with the combination of methods. In the process of model improvement, according to the development uncertainty of high and new technology enterprise and risk investor appetite for risk assessment of enterprise value, the influence of the risk investor risk appetite as a parameter variable is added to the model. At the end of the paper selected tongfang co., LTD., as an object of case analysis, respectively, using the traditional enterprise value evaluation model and the improved fuzzy type enterprise value evaluation model of the company are analyzed, basic is consistent with the expected results.Through case analysis of the results, which can be concluded in this paper, the improved fuzzy enterprise value evaluation model accurately calculated the value of the company as a whole, provides investors with the conclusions is more reasonable than the traditional methods of investment information, to the enterprise to make a more realistic prediction. |
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