Analysis Of Factors Affecting Internet Listed Enterprises' Valuation

With the rapid development of the Internet economy,the capital operation activities of Internet companies have become more frequent.As an industry with a large contribution to the Internet,The online game industry has both development potential and profitability.Faced with the rapid development of China's online games,this paper believes that studying the influencing factors of listed online game companies will help complete the evaluation system and promote the value of online game companies.This article analyzes the characteristics of China's online game companies,online game industrial chain characteristics and development status,and introduces relevant theoretical analysis of the influencing factors of online game companies' business evaluation from the aspects of corporate resources and enterprise capabilities.On the basis of the panel data model introduction,using 31 companies as samples,a panel data model of the influencing factors of online game companies' business evaluation was constructed.Through empirical analysis,it is found that listed online game companies have unbalanced development and large market differences.The indexes that affect its assessment are more significant: the proportion of intangible assets,debt ratio,equity ratio,operating income growth rate,capital intensity,proportion of R&D technicians,and advertising costs.These proportions represent different corporate capabilities.The most influential is the proportion of advertising costs that represent propaganda capabilities.Based on the conclusions,this article attempts to give relevant suggestions about the important factors that corporate managers and investors should pay attention to in the business evaluation of online game companies,in order to reduce the business risks and investment risks.