The Value Evaluation Of The Venture Investment Of The Internet Enterprises Based On The Fuzzy Real Options

In recent years, with the rapid development and the increasing demand of the Internet, Internet companies in China have developed rapidly and have become a new engine to promote the growth of the national economy. And Internet companies with high investment, high risk and high return characteristics make it difficult to obtain financial support through traditional channels, while the ones that chasing a high yield and can bear a certain risk of venture capital meet the needs of the development of Internet companies. In order to improve the success rate of investment risk, to reduce the investment risk of risk investors and help them get the maximum return on investment, and to promote the healthy development of venture capital market, a scientific and reasonable risk investment value evaluation model is built. At present, for the risk investment value evaluation research focus on high-tech enterprises and lack of research on Internet enterprise risk investment, therefore, the reinforce on the studies of the Internet enterprise risk investment value has a significant theoretical and practical significance on promoting investor risk decision-making level, improving our country’s risk investment operation level, and further promoting the vigorous development of Chinese Internet industry.This paper regards the Internet enterprise risk investment value evaluation as the theme and relies on venture capital and real options theory, and fully understands the research status on the basis of related research at home and abroad, the concept of Internet companies and venture capital is defined and the necessity of evaluating Internet enterprise risk investment price value is analyzed. According to the difficulty of Internet enterprise value assessment and the limitations of traditional value assessment method, the idea of real option is introduced and the advantages of prominent real option method are emphasized. Then, combined with the real option characteristics of venture investment of the Internet, the real option model is improved and some parameters of the model are dealt with fuzzy processing by using the fuzzy mathematics theory and method. At the same time, according to the characteristics of the high risk and multistage of Internet enterprise risk investment, the risk investment decisions are realized by stages, and the value of each stage is evaluated. For each stage of value assessment, a dynamic risk investment decision model based on Fuzzy real option to determine the value of venture capital is built. Taking A Internet enterprise as an example to construct the stages of fuzzy real option risk investment value evaluation model, two completely different investment decisions are obtained by using the model with the traditional valuation methods. Results show that a more objective and reasonable evaluation result is obtained by using the fuzzy real option model of Internet enterprise risk investment value and the feasibility and superiority of the model is verified.According to the improvement of the Internet enterprise risk investment decision methods, a phased fuzzy real option approach is propose to evaluate the Internet enterprise risk investment value more accurately. In a certain extent, the uncertain problems in the process of venture capital investment are solved and the investment risk in investment opportunities and business flexibility option value is quantified by this approach. Conclusions derived from the model can provide a more accurate and objective evaluation result for risk investors and can improve the investment risk decision-making ability so as to help maximizing the interests for investors.