Research On The Application Of Improved Residual Income Model In The Value Evaluation Of Online Game Companies

With the continuous progress and development of Internet technology in China,driven by the development of the "Internet +" era,the online game industry is showing a good momentum of rapid development.As the online game industry user market is expanding,a series of economic activities such as mergers and acquisitions,investment and financing of online game companies are increasing.In the environment where the market and investors are highly concerned,the demand for evaluation of online game companies is increasing.At the same time,due to the short development history of the online game industry,the traditional evaluation methods are difficult to be used in the evaluation of new assets,and the improved evaluation methods also have many shortcomings that need to be improved.Therefore,it is of great theoretical and practical significance to seek a reasonable and scientific evaluation method for the growing demand of online game companies.This paper aims to build a more scientific and effective value evaluation model for online game companies to promote reasonable valuation of online game companies.Firstly,this paper analyzes the development and valuation of online game companies,studies the development process and current situation of online game industry,and summarizes the development characteristics of online game enterprises;At the same time,it studies the influencing factors and difficulties of online game enterprise valuation,analyzes the limitations of traditional evaluation methods,and makes it clear that more reasonable evaluation methods and methods need to be selected.Secondly,according to the relevant literature research,the development and valuation of online game enterprises,the residual income evaluation method is selected and improved as the online game enterprise value evaluation model,which is mainly improved from two aspects: One is to use the improved Du Pont analysis system to optimize the calculation and prediction of residual income and to improve the accuracy of valuation;the other is to consider the influence of non-financial value factors,use the Balanced Score Card to build the online game enterprise value evaluation system,and use the Entropy-mutation Progression Method to calculate the comprehensive adjustment coefficient,and then calculate the enterprise value.Finally,relevant cases are selected for evaluation and analysis to verify the effectiveness of the valuation model.The research case selected in this paper is 37 Interactive Entertainment Company.By using the improved residual income evaluation model,the valuation results are compared with the unimproved residual income evaluation model and the market value on the benchmark date.The final results show that the difference rate between the evaluation results of the improved and the unimproved residual income evaluation model and the market value is within the reasonable floating range of 20%,which indicates that the residual income evaluation method is applicable to the value evaluation of online game enterprises.At the same time,compared with the unimproved evaluation model,the difference rate between the evaluation results of the improved residual income evaluation model and the market value is smaller,which further verifies the rationality and effectiveness of the improved residual income evaluation model for online game enterprises.