Research On Internet Enterprise Value Evaluation Based On Improved EVA Model

In recent years,due to the rapid development of the domestic Internet industry,The Internet is playing an increasingly important role in today’s society and People’s lives are also changing with the profound influence of the Internet.Nowadays,everything around us is connected to the Internet.In this Internet era,Internet enterprises are also developing rapidly by virtue of various advantages.Looking around the world,the development of the Internet industry and its enterprises has driven the growth of the world economy,which makes many people at home or abroad pay attention to and study the Internet.As Internet enterprises are enterprises with new organizational forms and outstanding characteristics such as strong innovation,the source of its value is different from that of general enterprises.Therefore,it is of more practical significance to evaluate its intrinsic value.This article is based on the previous theories about enterprise value evaluation and the Internet enterprise valuation method based on the analysis of the careful combing and summary,try to in the industry in a leading position in the firm,tencent holdings as the research object,and focused on in the Internet enterprise internal value selection method and use,the evaluation of the research process of modified EVA valuation model.Firstly,the basic theory and method of enterprise value assessment are introduced.Then,by analyzing the Internet industry and the enterprise value of Internet enterprises,the applicability of various evaluation methods to the evaluation of the value of Internet enterprises is studied,and the EVA model to be used in this paper is determined and its principle is emphatically explained.In addition,due to the shortcomings of using EVA valuation model,which is highly subjective in calculation,is greatly affected by the authenticity of financial statement information and does not consider some non-financial factors,this paper proposes a method of introducing external market evaluation on the basis of the original evaluation method.By calculating the correction coefficient of market price,this method adjusts the calculation result of traditional EVA valuation model by coefficient,which makes the final result more close to the real value.Moreover,on the basis of business analysis and financial analysis of Tencent Holdings,its historical EVA value is calculated based on its financial data from 2018 to 2021.And the base for five years after the rapid growth of tencent holdings of future EVA value analysis of the forecast,so the two stages of growth model based on EVA calculated its intrinsic value.Finally,this paper introduces in detail the research and analysis process of using the modified model to evaluate the intrinsic value of Tencent Holdings,and obtains the final valuation results and draws relatively meaningful research conclusions.It is found that the results obtained by using the modified EVA valuation model to evaluate Tencent holdings are more in line with the real market conditions,which has certain reference significance for improving the accuracy of Internet enterprise value assessment.In the end,this paper analyzes and summarizes the results of the model,shares some problems that need to be further improved in the subsequent research,and puts forward some optimization ideas and suggestions on the practical application of the model.