Research On Valuation Of Game Enterprises Based On Ohlson Model

Since the middle of the twentieth century,the global game industry has changed from scratch,from small to large,from simple pixel games to large-scale games where millions of people are online at the same time.In the 21 st century,with the development and popularity of the Internet and mobile phones,the game industry is changing with each passing day.In recent years,the development of China's game industry has also received strong support from the state and the whole society.The industrial development environment is getting better and better,and the game industry's output value is growing rapidly.The game industry is different from the traditional industry.It belongs to the high-input,high-risk,high-return,high-explosive emerging industries,and does not have the disadvantages of high energy consumption and high pollution in traditional industries,so it has a broad space for development.At present,the scale of the domestic game industry is constantly expanding,and there are also many problems.China's game industry started late,many companies set up time is short,cash flow is unstable,and market investors are skeptical about their future development.In addition,the game industry cross-border mergers and acquisitions frequently,many Internet companies to buy game companies,trying to occupy a place in the fast-growing game field.The current status of the game industry puts forward requirements for enterprise value evaluation.How to accurately and reasonably evaluate the value of game industry enterprises has become the key to the sustainable and healthy development of the game industry.After comparing the advantages and disadvantages of different evaluation models and their applicability to game enterprise evaluation,this paper attempts to introduce the Ohlson model and elaborates the principle of the model.The model uses the inherent advantages of residual income to fully invisibly the game enterprise.Assets take into account the value assessment,avoiding the underestimation of the evaluation results;combined with the characteristics of the game industry,this paper further improves the residual income model,solves the problem of indefinite forecast and residual income difficult to calculate,and analyzes the improved model to the game.Applicability of the enterprise;Finally,the model is applied to the case study to further verify the rationality of the model in the evaluation of the equity value of the game company.This paper makes up for the shortcomings of the Ohlson model in the application field of game enterprise value evaluation.At the same time,it has made some improvements to the Ohlson model,which provides a new idea for practical operation.