Software Enterprise Value Assessment Based On Physical Option

The information-driven modernization development strategy requires accelerating the deep integration of cloud computing,big data,artificial intelligence and the real economy,and the innovative development of the software industry is an important way in the comprehensive digital transformation.At present,the needle has not yet established a complete value evaluation system for software companies,and it is difficult for traditional evaluation methods to measure the potential uncertainty value of the software industry and fully reflect the reality of software companies Value,and reasonable judgment and evaluation of the value of software enterprises is of great guiding significance for defining the actual objective returns of enterprises under the risk of economic financialization and various economic transaction activities such as restructuring,mergers and acquisitions,financing,and listing of subsidiaries in the software industry,so it is urgent to seek new ways to objectively reflect the value of software enterprises.To this end,after drawing on the real option valuation guidance in chinese asset valuation standards,this paper starts from the inductive analysis of relevant literature at home and abroad,elaborates on the traditional valuation methods and real option theory,combines the current situation of software enterprise development,analyzes the influencing factors of software enterprise value and industry characteristics,and is in the right place After the applicability analysis of the relevant evaluation methods,the real option theory is introduced into the income method as a supplement,and a portfolio model suitable for software enterprises is constructed,and finally applied to the Yonyou case company to verify the applicability of the model.The study finds that the combined model based on the characteristics and value influencing factors of software enterprises can reasonably reflect the complete value of software enterprises,and the model is feasible,which will provide a reference for evaluating the value of software enterprises and identifying value sources.