Research On Pricing Of New Retail Enterprises Based On Free Cash Flow And Real Option Method

The new retail is mainly relying on the Internet,combined with the current development of big data and artificial intelligence technology,upgrade improvement in production,logistics and marketing aspects,a new mode of experience,to the real consumer online shopping service and logistics customer service etc.into full range integration of the retail industry.The concept of new retail is proposed to enhance the traditional e-commerce mode.Many large listed companies have entered the traditional retail industry to seize market share,and create new retail business has become a trend.Therefore,the value evaluation of new retail enterprises is also becoming the focus of attention.But with the new retail current hot attention compared to the new retail enterprise value assessment theory and method research is still inadequate,use the traditional method of pricing for new retail business value assessment will have some limitations,it is difficult to reflect the importance of the cost of capital in the company pricing,also easy to overlook the potential value of the future development of the new retail enterprises,the free cash flow and real options both into new retail enterprises pricing,actual operation and accurate pricing of new retail enterprises to make a useful attempt.This paper firstly put forward to how accurate pricing of new retail enterprises as the background is expounded,introduces the research methodology and the framework,and from the enterprise pricing method,free cash flow,real option theory research literature on the three point at home and abroad are summarized,and then based on the analysis of characteristics of new retail enterprises and listed the company shares the motivation factors that influenced the new retail pricing,combined with the shortcomings of traditional pricing method,which is suitable for pricing of new retail business model pricing--combination of free cash flow and real option model,this paper focuses on Alibaba stake in Sanjiang Ali shopping company as an example,the application of the comprehensive the pricing model of the calculated value of Target Corp and published the "Sanjiang shopping simple changes in Equity Report".The total price of the shares of the Alibaba is compared and analyzed to evaluate the appropriateness of the pricing of the investment in the stock market.