Research On The Appraisal Of Internet Technology Enterprises Value

With the continuous development of science and technology,electronic devices such as mobile phone communication,software and Internet services(e-commerce,etc.)have profoundly affected people’s daily life.Technology companies that focus on the production of scientific and technological products or provide technical consulting services have developed rapidly,among which Internet technology companies that carry out the production and manufacturing of relevant scientific and technological products or provide Internet services based on the Internet have developed rapidly and become an important part of the economic landscape.China’s economy is also in the period of transformation and development,the development of high-quality economy can not do without Internet technology companies.However,China’s Internet technology companies are still at the early stage of development,and the majority of Internet technology companies are still facing multiple problems such as listing and restructuring.The solution of these problems requires a reasonable evaluation of enterprise value.Internet technology companies have the characteristics of high risk,high yield,high growth and high proportion of intangible assets,and there are many difficulties in evaluation,which jointly lead to the limitations of traditional enterprise value evaluation methods in the evaluation of Internet technology enterprises.Based on the above background,this article obtains from the Internet enterprise’s unique characteristics of science and technology,Internet technology is analyzed difficulties existing in the enterprise value evaluation,think that the Internet technology companies is part of the cash flow is not easy to determine,income cannot be accurately measuring,risk problem such as accurate measurement,think the value of science and technology enterprises run by the existing Internet business to create value and future growth opportunities to create the value of two parts.Based on this,this paper analyzes the limitations of traditional enterprise value assessment methods such as revenue method,cost method and market method in the evaluation of Internet science and technology enterprises,and holds that traditional enterprise value assessment methods cannot solve the difficulties in the evaluation of Internet science and technology enterprises.After,this article introduces real option theory,the analysis of the formulas and characteristics of real option method,constructed based on the real option method and discount cash flow method of combination evaluation model,based on the discounted cash flow method to evaluate enterprise’s existing business value,based on the real option method to evaluate enterprise’s value of future growth opportunities,ultimately determine the overall value of the enterprise.Finally,through the case of xiaomi,this paper verifies the adaptability of the combination evaluation model of cash flow discount method and real option method to the value evaluation of Internet technology enterprises.This paper innovatively studies the problem of value assessment of Internet enterprises,proposes a portfolio assessment model for Internet technology enterprises,and verifies the applicability of the portfolio model through the case of xiaomi,which provides a new reference for the selection of value assessment methods for Internet technology enterprises.