Research On Value Assessment Of Internet Company Of NEEQ Listed Enterprise Based On EVA

At present,under the influence of various factors,China's economy is facing severe challenges.Affected by the global economic situation,the downward pressure on GDP has increased,and China is in a critical period of industrial upgrading.In order to promote economic transformation and achieve a sound and rapid economic development,China has implemented various measures,issued a series of policies,and vigorously improved the allocation of capital city resources.In the current market environment,there are a large number of SMEs that play an increasingly important role in order to promote the healthy development of these SMEs and improve the financing efficiency of these enterprises,the country has established a national SME share transfer system,namely the New Third Board Market.The emergence of the New Third Board has greatly increased the financing capacity of enterprises and enabled them to have more resources to scale up and develop production.As of March2018,the number of companies listed on the New Third Board has reached 11,620,including a large number of small and medium-sized and high-tech companies.With the vigorous promotion of policies,the scale of the New Third Board market continues to grow,and it also plays an increasingly important role in promoting the development of the entire economy.Due to the country's various supportive policies for the new three boards and the advantages of the new Third Board market itself,more and more investors have turned their attention to the new three board companies.As a rational and objective investor,how to choose valuable companies to invest in a large number of new three-board listed companies,it is very important to choose the appropriate method of corporate value evaluation.For corporate managers,they act as both managers and investors.Because managers need to not only be responsible for the day-to-day operations of the company,they also need to participate in some major investment decisions.Managers need to judge whether the value of the company is over or underestimated,so as to make more wise business decisions.At the same time,managers also need to determine whether an investment project can achieve expected returns,whether it should continue to invest or give up,which requires managers to master a set of scientific value assessment methods.Traditional valuation methods(such as discounted cash flow method,relative value method,and asset-based method)all have certain limitations in evaluating the value of new companies.In contrast,using the EVA evaluation method to evaluate the value of the new Third Board companies has stronger applicability,and the evaluation results are more accurate,and enrich the new third board enterprise value evaluation system.This article takes the New Third Board Internet company as the research object,and analyzes the value sources of the New Third Board Internet companies,taking into account its own particularity,and constructs a value evaluation model that is more suitable for the New Third Board Internet company,so as to meet the needs of investment and financing parties.This article selects a representative company H company in the New Third Board Internet industry as the evaluation target,uses the EVA valuation model to evaluate the value,and compares it with several commonly used value assessment methods to prove that the EVA assessment method is more applicable.Finally,using H company stock price to calculate the market value,compared with the enterprise value calculated by EVA assessment method,the error is within the acceptable range,which proves that the EVA assessment model has certain applicability in the evaluation of the value of the new 3rd board internet company.