Research On Value Evaluation Of E-commerce Enterprises Based On Black-Scholes Model

In recent years,the impetus of the entire e-commerce market in our country is strong.With the rapid growth and unlimited development prospects of the industry,the development trend for e-commerce enterprises has been gradually focused.The mainly two aspects are investment activities and financing activities,so how to objectively and fairly evaluate the value of the enterprises is an issue of concern to managers and investors.Meanwhile,"The development plan of electronic commerce" 13 th Five-Year "" It also reflects the importance that the government attaches to the development of e-commerce industry.Therefore,this article chooses e-commerce enterprises as the research object,and analyzes and evaluates their value.However,e-commerce enterprises have their own uniqueness in the aspects of their business model,profit model,etc.If the traditional evaluation method is applied to the evaluation of the value of the electric business enterprise,it may lead to the difference of the evaluation result.So,it is very important to choose a suitable evaluation method.This paper analyzes the limitation of four kinds of mainstream methods in evaluating the value of electronic business enterprise,combining with the influence factors of E-commerce enterprise value and its value composing characteristics,and then draws up new evaluation ideas and demonstrates the applicability of real option theory.Finally,we select Black-Scholes(B-S)option pricing model and apply it to specific cases to prove the effectiveness of this method.The main conclusions of this paper are as follows:1?E-commerce enterprises and traditional enterprises are two different economic forms in the market economy,and there are great differences in all aspects.Through the value chain model,we get the three main factors that affect the value of the electric business enterprise,such as Operation cost,after-sale service and core competitiveness.In the value composition,the data assets,patent technology,brand effects and other intangible assets accounted for a larger proportion.2?Compared with the traditional evaluation method,the real option pricing model is more suitable for the evaluation of E-commerce enterprise value.Real options stand in the dynamic perspective of the future potential value of electric business enterprises,can profoundly reflect the essence of value.At the same time,the relevant parameters of B-s model are revised to make it more suitable for the evaluation of E-commerce enterprise value.3?The operability of real option pricing model is verified by combining theory with practice.This paper chooses typical e-commerce enterprise Poly-Mei excellent product as the research case,uses the B-S model to evaluate its value,and makes a reasonable explanation to the evaluation result,and verifies the validity of the evaluation idea and method.This paper tries to make a new beneficial exploration to the evaluation of E-commerce enterprise value,enriching and perfecting the theory of enterprise value evaluation.