Evaluation Of The Value Of High-tech Enterprises On The Sci-tech Innovation Board Based On Fuzzy Mathematics

Under the new round of scientific and technological revolution and industrial changes,science and technology innovation boards have emerged at the historic moment.Most of the companies applying for science and technology innovation boards or companies that have already been listed are high-tech,growth-oriented,with a large proportion of intangible assets and uncertain future earnings.Companies,most of them use traditional absolute valuation methods or relative valuation methods represented by price-earnings ratios,but these methods ignore the future investment value brought by current capital expenditures,which is partially wrong.This paper draws on the research results at home and abroad,in order to quantify the valuation uncertainty of such high-tech companies,the paper assigns key variable interval changes,and derives a cash flow discount model and a real option model based on fuzzy theory The research shows that the model is an improvement on the discounted cash flow model and the traditional real option model.By obtaining the range of corporate value changes,the valuation results are more reasonable;the sensitivity analysis of fuzzy parameters shows that the science and technology innovation board The uncertainty of high-tech enterprise value is negatively correlated with ambiguity.The minimum value is positively correlated with the left width and negatively correlated with the right width.Analyzing the value of enterprises under different conditions can improve the accuracy of investment decisions.Finally,case analysis is introduced.By comparing the free cash flow discount model,the traditional real option model,the error of the three calculation results of this model and the real stock price,we can further verify the effectiveness of this new valuation model in enterprise value evaluation.Based on the combination of value evaluation and previous research,this paper explores a new theoretical system suitable for high-tech enterprise value evaluation.Through the scientific construction of evaluation methods,it provides reference for the evaluation of related industries.