Research On Value Evaluation Of Webcast Enterprise Based On Modified DEVA Model

Most people’s way of life by a sudden outbreak of disruption,stay at home,"home" has become most people to fight the epidemic to make the greatest contribution.Under the influence of "house economy" in special period,the online live-streaming industry regained growth momentum,diversified development gradually became the major trend of online live-streaming industry,and online live-streaming empowered the traditional industry.The combination of the two forms the innovative mode of "livestreaming +",and the two characteristics of live-streaming are life and daily.In recent years,many spellings,small red books and Douyin and other head e-commerce platform to open up its online live business,that is,live and e-commerce mode of mutual integration.At the same time Taobao,Jingdong,Weipinhui will be a series of platforms have entered the online live market,online live business prospects for development.A series of operations such as mergers and acquisitions,financing and listing that are broadcast live online on the capital market are very frequent,and along with the dissipation of dividends from the Internet population explosion,online livestreaming companies have completed the stage transition,that is,the transition from the stage of user explosion to the stage of lean operation of stock users.Scientific and accurate valuation of live-streaming companies at the present stage can not only help the investment selection of investment institutions,but also provide reference for the valuation of network platforms by valuation institutions.In this paper,we study the classification,development,profit-making and characteristics of live-streaming enterprises,and find that the valuation of livestreaming enterprises is difficult to predict the expected earnings,difficult to predict the operational risks,difficult to determine the reference company and quantify the nonfinancial indicators,so that the traditional valuation methods such as cost method,income method and market method are not suitable for live-streaming enterprises at this stage.However,DEVA model not only fully considers the customer resource,but also needs convenient data acquisition,without non-objective profit forecast and market analysis,and the valuation result is more objective and accurate.When we introduce the traditional DEVA model,we find that the traditional DEVA model is not suitable for the live broadcasting enterprise in the stage of lean operation,so we adjust the model parameters according to the development and value driving factors of the live broadcasting enterprise,including redefining the user value in the model,introducing the indicators such as user payment rate,user stickiness and customer cost,modifying the relationship between user value and enterprise value,and then obtain a new model more suitable for the live broadcasting enterprise in the stage of lean operation of the stock user.In the case study,we use the improved DEVA model,the improved DEVA model and the PE model to evaluate the value of live tiger teeth on December 31,2021,and analyze the difference between the evaluation results of each model and the market value on the base date.