Research On Enterprise Value Assessment Model Of Internet Platform Based On Combination Weighting Method

With the development of Internet technology,the enterprise organization form and the business model are undergoing tremendous changes.Internet companies emerge in endlessly,the unprecedented development of Internet enterprise value evaluation theory not only provides the theoretical basis for funding,restructuring and merger and acquisition activity,but also improves the development of the theory of value in the Internet.An important aspect of value assessment for Internet enterprises is to establish a comprehensive index system and select the appropriate index weighting method.This is of great significance not only to investment institutions and the public,but also to enterprises to improve their operating conditions and enhance their value.This paper is divided into five chapters.Chapter one is introduction.The second chapter analyzes the factors affecting the value of Internet platform enterprises from the perspectives of enterprise resources and enterprise capabilities,and integrates the financial and non-financial factors to establish the value evaluation index system of Internet platform enterprises according to the characteristics of platform enterprises.The third chapter is to screen the index system qualitatively and quantitatively,and to construct the Internet platform enterprise value evaluation model based on the combination weighting method.The fourth chapter is an empirical study on the valuation of listed Internet companies in the United States.Chapter five is the conclusion and prospect.The main work of this paper is as follows:(1)Established the value evaluation index system of Internet platform enterprises based on the perspective of enterprise resources and enterprise capabilityFirstly,this paper combed the domestic and foreign research on enterprise value evaluation of the Internet platform.Then in the combination of the practical situation of our country and the government laws and regulations,took the quantitative factors and qualitative factors into consideration to summed up a complete set of evaluation index system on the basis of the financial indicators and non-financial indicators from the perspective of enterprise resources and enterprise capacity.At the same time,the index system was screened based on the principle of qualitative index screening,and then the indexes with high correlation,variation coefficient and gray correlation degree were deleted by the quantitative clustering method to ensure the scientificalness of the index system.(2)Established the value evaluation model of Internet platform enterprises based on combination weighting methodThe indicators-empowerment method will greatly affect the enterprise value evaluation results,this paper introduced the common objective empowerment method and subjective empowerment method.And demonstrated the additive synthesis and multiplicative synthesis.The synthesis performance by the entropy value modified G1 method was more scientific and reasonable.This method combines the advantages of the subjective and objective weights way,and also avoid the casualness of the traditional ratings of the G1 method by expert.This objective and subjective combination weighting method is used to weight the evaluation indexes of Internet enterprises.At the same time,the comprehensive index method is used to calculate the comprehensive evaluation value of platform enterprises and establish the evaluation model of Internet platform enterprises.(3)Evaluated the value of Internet platform enterprises.The historical data of ten listed Internet platform enterprises in the United States in the past three years(2015-2017)were collected for empirical analysis.The comprehensive evaluation value was obtained through the entropy value modified G1 method combination weighting evaluation,and compared the actual market value of enterprises.The error rate was calculated to verify the high correlation between the evaluation value and market value.And compared with the comprehensive evaluation value calculated by the single weighting method,it is proved that the combination of objective correction and subjective weighting is more reasonable than the evaluation result of the single weighting method and can evaluate the enterprise value more scientifically.