Value Evaluation Of Telecommuting Enterprises Based On Modified FCFF Model

In recent years,due to the good development momentum of China’s Internet economy,the "Internet +" business model has gradually become a development trend.In order to better meet the competitive needs of efficient office at this stage,many traditional industries have an increasingly strong demand for remote office.Many Internet software enterprises that tailor-made online office platforms for traditional enterprises have sprung up.Therefore,under this background,this paper makes an in-depth study on the valuation of this type of enterprises by combining relevant theories and actual valuation cases,hoping to provide a new idea for the value evaluation of this type of enterprises.Through the analysis of the enterprise characteristics and value composition of the new Internet software industry type of providing remote office platform for enterprises,and based on the research status of relevant literature,this paper finds that the overall value of enterprises in this industry can not be limited to the value created by existing assets,but must consider the value created by potential R & D investment.However,the traditional enterprise value evaluation method has great limitations in the potential value evaluation of enterprises,and can not fully show the complete internal value of enterprises.Therefore,considering the inherent defects of the traditional evaluation methods,this paper will adopt the real option method(B-S model)to evaluate the potential value of enterprises in the remote office industry,so as to modify the original asset value evaluation model.In order to further verify the effectiveness and accuracy of this combined model in the evaluation process,this paper selects ABC company,which is very representative in the industry,as the research case,uses FCFF model to evaluate its existing value,and uses B-S real option model to explore its potential value,so as to obtain the accurate internal value of the enterprise,and also provides a case reference for the value evaluation of domestic enterprises providing remote office services.