| At present,China’s economy is entering a new stage of development.To adapt to this new phase,the transformation and upgrading of the traditional economy is accelerating,and the development of the digital economy is also showing a rapid growth trend.Data has increasingly become the core element of digital transformation and upgrading of enterprises,and data assets,as the main manifestation of data in enterprises,are becoming increasingly important.The assessment of data assets is also receiving more attention.However,the academic community’s definition and value assessment of data assets still need to be improved.We have not yet formed a complete,objective,and effective data asset value assessment system,which has posed certain obstacles to the development of data assets in our country.For this purpose,this article first sorts out and summarizes the previous research on data assets,analyzes the existing shortcomings,and on this basis,proposes an Internet of Things enterprise data asset evaluation model based on the parameter improvement of the revised multi-period excess earnings method,and analyzes it with relevant cases.This evaluation method first uses the traditional FCFF method to calculate the enterprise value based on free cash flow,and then deducts the contribution value of various assets.The resulting value is multiplied by the data asset sharing rate calculated by the Monte Carlo simulation AHP hierarchical analysis method to obtain the enterprise data asset contribution value.Then,considering the special risks such as unclear data asset ownership and data security,the discount rate of data assets is distinguished from the overall discount rate of intangible assets to evaluate the data asset value of Io T enterprises,taking SF Holding Group Co.,Ltd.as an example and using this model to calculate its data asset value.Finally,Monte Carlo simulation combined with Schwartz-Moon model and Black-Scholes-Melton model is used to judge whether the result is reasonable,summarize the conclusions,and give policy recommendationsThis article aims to explore the interrelationship between the influencing factors of the value of data assets of Internet of Things(Io T)enterprises and the determination of value,in order to provide a reasonable evaluation reference for the value of data assets in future assessment fields.In this article,an attempt is made to evaluate the data assets of SF Holdings,resulting in a value range of [140,197.2] on the evaluation base date of December 31,2021.The results of running the Schwartz-Moon model and Black-Scholes-Melton model through Monte Carlo simulations comply with the standard normal distribution,indicating a certain degree of rationality.The attempt to evaluate the value of data assets in this study is mainly through parameter improvement of the modified multi-period excess return model in existing mainstream data asset evaluation methods.Specifically,adjustments were made in terms of data asset sharing rate and discount rate.This improvement reduces the subjectivity of the analysis of the weight of data assets,while taking into account the value and risk characteristics of data assets,reflecting the excess returns and uncertainty of returns of data assets.In this way,it can better evaluate the value of data assets of Io T enterprises and provide a reference for relevant parties.The results of this study can prompt Io T enterprises to pay more attention to the application of data assets,increase efforts in classifying and managing massive data resources,and continuously improve the quality of data asset operations.On the other hand,it is also expected to provide new ideas and perspectives for future data asset value assessment research by improving the parameter selection of the modified multi-period excess return model through the application of Monte Carlo simulations and the WARA model. |
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