P2P Online Lending Enterprise Value Assessment

With the continuous progress of science and technology as well as the continuous development of economy and society,Internet technology has been widely applied,and P2P online lending enterprises have emerged as a new thing.Its emergence not only solves the problem of difficult financing for small and micro enterprises and individuals to a certain extent,but also improves the utilization efficiency of social idle funds.In addition,with the continuous expansion of P2P online lending enterprises in China,mergers and acquisitions,restructuring,equity trading,IPO and other capital activities of P2P online lending enterprises have been occurring frequently,which,on the one hand,gives rise to the demand of investors for the value assessment of P2P online lending enterprises,and on the other hand,it also gives rise to the need for managers of P2P online lending enterprises to objectively evaluate their value.Therefore,how to reasonably evaluate the value of P2P online lending enterprises is an urgent problem to be solved in the capital market,and also a focus of concern for all stakeholders.Based on the above research background,the discussion and construction of China's P2P online lending enterprise value evaluation model is discussed and constructed,and an empirical study on 36 sample enterprises is conducted in this paper.The following conclusions are mainly drawn through the discussion on the value evaluation of P2P online lending enterprises:Firstly,based on the P2P lending industry overview,the meaning and characteristics of P2P online lending enterprises has been clear about,the financial value evaluation index system of the P2P lending enterprises is built from the enterprise financial value influencing solvency,profitability,development ability and operation ability four aspects,and the factor analysis method is used to evaluate the financial value of P2P lending enterprises.Secondly,combined with the resource-based theory,the non-financial value evaluation index system of P2P online lending enterprises is constructed from five resource factors including capital resources,human resources,technical resources,brand resources and word-of-mouth resources,as well as five ability factors including risk control ability,marketing ability,development ability,revenue ability and guarantee ability,then the non-financial value of P2P online lending enterprises is evaluated by Analytic Hierarchy Process(AHP).Thirdly,the AHP is used to give weights to financial value and non-financial value,so as to calculate the comprehensive value of P2P online lending enterprises.Then,regression analysis is conducted on the market value and comprehensive value of some listed sample enterprises,and a P2P online lending enterprise value evaluation model is constructed accordingly.Finally,the model is used to evaluate the market value of 30 P2P online loan enterprises,and the evaluation results are analyzed and discussed in combination with the actual situation.The results show that the value evaluation model in this paper has certain rationality and reference value.