| In recent years,the artificial intelligence industry is flourishing with the rapid development of big data,cloud computing,the Internet of Things and other science and technology,becoming an innovative driving force to promote industrial upgrading and lead technological progress.As an emerging industry,the AI industry is sought after by the public,and the value brought by AI companies is gradually becoming a hot topic of concern for investors.Therefore,a scientific and reasonable valuation model needs to be constructed to assess the value of such enterprises.This thesis takes full account of the special characteristics of the AI field that are different from other fields,and introduces the real options theory into the EVA model and applies it to Dahua Co.to estimate the overall enterprise value.This thesis takes the AI enterprise as the research object and aims to explore a method that can accurately evaluate the overall value of AI enterprise.First of all,this thesis takes the concept of artificial intelligence as the starting point and analyzes the value structure and related theoretical basis of artificial intelligence enterprises.Secondly,the characteristics of AI enterprises and the difficulties they may encounter in the evaluation process are introduced.This leads to the conclusion that the combined EVA-BS model is more suitable for the valuation of AI companies.In the end,this thesis takes dahua shares as a case study,evaluates the existing asset value of dahua shares by using the eva model,introduces dividend rate q into the original B-S model,and constructs the improved B-S model to estimate the potential value of the enterprise’s creation,which is the sum of the total value of dahua shares.Finally,based on the stock price as of December 31,2021,the portfolio model’s valuation was compared to actual enterprise value to validate the portfolio model’s viability.The research results of this paper show that compared with the enterprise value estimated by a single model,the combined model of EVA and B-S can well estimate the overall value of AI enterprises.It can provide data reference for financial activities such as investment and financing decisions,rights issue,mergers and acquisitions restructuring,reliable data for investors and scientific and rational decision-making by business managers. |
