The Research Of The Online Literature Enterprise Value Evaluation

The rapid development of the Internet and the continuous popularization of mobile intelligent terminals have laid a solid foundation for the rapid growth of digital reading industry,and also led to the vigorous development of online literature.Online literature enterprises gradually move to the operation mode of ‘IP whole industry chain’.Accordingly,the evaluation of online literature enterprises also needs to adapt to such changes and dig deeply into the value creation mechanism under this operation mode.A scientific and reasonable evaluation of value will help online literature enterprises a lot in the capital market and achieve higher quality development.Therefore,this paper intends to study the enterprise value of online literature enterprises from the perspective of ‘IP whole industry chain’ operation,and takes China Literature as an example.This paper analyzes the value creation mechanism of the online literature enterprise and builds a value evaluation model for it.Read-online business and copyright operation business should be appraised respectively.The former can be evaluated with discounted equity valuation analysis model,and it is reasonable to construct a valuation model for copyright operation business by analytic hierarchy process.Moreover,this paper analyzes the read-online business and copyright operation business of China Literature,respectively uses the revised DEVA model and the copyright operation business evaluation model constructed in this paper to evaluate these two businesses,and thus obtains the overall enterprise value of China Literature.This paper is a supplement and expansion for IP value evaluation theory to some extent,which can provide new ideas for the appraisal of online literature enterprises.Furthermore,this paper studies the value created by IP operation from the perspective of asset evaluation,which is innovative.The relevant conclusions of this study can provide a value judgment basis for investors and bring some inspiration to managers in this industry.