Research On The Internet Enterprise Value Evaluation With Adjusted DCF Method

In recent years,As the rapid development of information technology,Internet companies based on information technology have followed rapid development.The emergence of the Internet has changed people's production and lifestyle,and it has also had a huge impact on traditional industries.Internet finance companies have emerged as a result.In this context,the evaluation of the value of Internet corporations has become a hot topic.However,Internet companies have different characteristics from traditional enterprises,traditional methods of enterprise value assessment has certain limitations,and cannot reflect the value of Internet corporations truly and accurately.This article attempts to build a more accurate and perfect Internet enterprise value evaluation model through the combination of theory and practice.This article begins with the basic concepts and characteristics of Internet corporations and Internet finance.Through the analysis of the characteristics and applicability of traditional assessment methods,it is found that the discounted cash flow method is still the basis for correct assessment of corporate value,but it cannot reflect the potential value of Internet corporations.And the value of non-financial factors.Therefore,financial factors and non-financial factors which affect the value of Internet corporations first summarizes,and uses the balance scorecard theory to determine the financial factors and non-financial factors;scores are scored by the Delphi method,and the financial and non-financial factors are determined by combining the index weights.The adjustment coefficient;combined with the use of DCF method to calculate the discounted cash flow value of an enterprise,ultimately obtains the integrated value of the Internet enterprise.The company value obtained by using the above method is compared with the market value of the company to verify the validity of the evaluation model.After inspection,we can know that using the modified DCF method to assess the value of Internet corporations is closer to the actual value of the company.The model constructed in this paper can be used in the evaluation of relevant Internet companies in the future to provide new pricing for mergers,acquisitions,reorganizations,and listings of Internet corporations.