The Application Of Value Evaluation And Value Mangaement Of High-tech Enterprises

High-tech enterprises refer to enterprises with high technology content and development driven by science and technology.Compared with the traditional manufacturing industry,the high-tech enterprises are more dependent on r&d and intelligence.Hi tech enterprises transform science and technology into products,and the production and sale of high-tech products promote the progress of science and technology.The two complement each other and form a virtuous circle.Therefore,the rise of high-tech enterprises is inevitable.Under such a background,the development of high-tech enterprises has become the main theme of the knowledge economy era.The pillar of China's social and economic growth is gradually changing from traditional enterprises to high-tech enterprises.However,our country still adopts the traditional evaluation method to evaluate the value of high and new technology enterprises,which can not reveal the value of high-tech enterprises well.Because of the characteristics of high risk,high investment,high growth and short periodicity,the characteristics of real options are difficult to be evaluated by traditional evaluation methods,and can be evaluated by real option method.However,whether it is the traditional evaluation method or the real option method,if only a single method is used to evaluate the high-tech enterprises,the results are often inaccurate.High and new technology enterprises,on the one hand,have the value characteristics of the general enterprises,and also have the characteristics of real options.Therefore,it is more objective and impartial to combine the traditional income method with the real option method and apply it to the value evaluation of the high-tech enterprises.This paper focuses on the guiding role of enterprise valuation in the value management of high and new technology enterprises.Value management is also called value based management.It takes the maximization of enterprise value as the ultimate goal.The significance of the research on high tech enterprise value assessment methods of major economic activities,a large number of needs assessment of the value of participation,to assess the value of MampA participation can reduce the risk of mergers and acquisitions;venture capital investment needs of high-tech enterprise value evaluation,to correctly guide the venture capital investment decision;value management of enterprises also,to assess the value of high-tech enterprises.To assess the value of high-tech enterprises,then according to the value evaluation model to analyze the driving factors of value,then the value driven factors combined with the actual situation of enterprises in detail,driving after the breakdown of the index,according to the optimization of enterprise value indicators to guide the high-tech subdivision,and promote the healthy development of high-tech enterprises.In this paper,we will explore the relationship between value evaluation and value management through the exploration of value assessment applied to high-tech enterprises.The full text will expand from the following sections.Based on the enterprise value evaluation and value management to sort out the relevant theory and research and review;then defines the three concepts of value evaluation method,value management theory and value driven factors,and discusses the inner relationship between value evaluation and value management;Then,this paper discusses the characteristics of high-tech enterprises and the limitations of traditional valuation methods applied in high-tech enterprises,and then proposes the combination of income method and real option method to evaluate the value of high-tech enterprises.The value evaluation model combined with revenue method and real option method and analysis of the high-tech enterprises value driving factors,and then subdivide the actual operation value driven factors combined with high-tech enterprises,after the breakdown of the value driving factors index to guide the value management of high-tech enterprises;then the paper takes Fiberhome enterprise as an example,for to assess the value of the post,carries on the analysis to the middle value of information displayed in the process of evaluation.The driving factors of value management,and in order to guide and optimize the enterprise;at the end of the thesis make a summary and point out the inadequacies of the article.