Value Assessment Of Internet Enterprises

With the rapid development of information technology,various industry innovation technologies have been springing up,and the industrial structure of our country has been constantly adjusted and upgraded.Among them,the development of Internet enterprises has become more and more profound.Whether the early Internet companies investing,financing,offering or Internet companies listed later,acquisition,merger and acquisition(M&A)and a series of financial activities increasing demand for Internet enterprise value evaluation,but in the face of such a rapid growth of demand,our country's traditional enterprise value evaluation method is difficult to meet the reasonable.Therefore,how to accurately evaluate the value of Internet enterprises has become an urgent problem to be solved.Therefore,this article through the research on residual income model and to extend and improve its application in the Internet enterprise value assessment to result Internet enterprise value,and the value rationality of the corresponding analysis is given.This paper mainly focuses on the residual income evaluation model,and the theoretical argument and instance analysis are the two wings to expand the discourse space sufficiently,and the value assessment of Internet enterprises runs through the whole article.In the theoretical research part,the author first through related literature at home and abroad are summarized,combined with the background of the new era of the Internet industry and related data for Internet companies to discuss and analysis,and then different through relevant literature review,discussion of different enterprise value evaluation methods and the development of the residual income model,thus the residual income model in the literature as the basis,through the research for the model,is derived,and the residual income model of two phase model and its applicability and explore the scientific in Internet companies.Furthermore,the parameters of the parameters in the model are further explained.Finally with the method of comparative analysis,and sums up the residual income method compared with other enterprise value evaluation methods to explore,in combination with the present industry development background further argumentation and summarizes the residual income model is applied to the Internet feasibility and scientific value evaluation.In example part,the author with Tencent company as an example,combining with related data index,using different methods of enterprise value assessment,mainly equity cash flow model of income method,market method of p/e ratio,and also is the residual income model of the income method separately to evaluate tencent company's enterprise value,the market value of combining theory,the evaluation results of different methods were analyzed,to verify the residual income model on the Internet enterprise value evaluation of the feasibility and scientific nature.After exploring and verify came to the conclusion that the residual income model can be applied to the Internet enterprise value assessment,and the feasibility and scientific nature and the superiority is unmatched by other assessment methods.