Improvement Research Of Data Assets Valuation Based On Physical Option Method

China’s economic development has transformed into a stage that emphasizes high-quality development.Breakthroughs in information technology and the development of the digital economy have provided a continuous source of power for structural adjustment.This is due to data becoming the fifth factor of production,in addition to land,labor,capital,and technology.Therefore,accelerating the construction of a data factor market and promoting the resourceization,assetization,and capitalization of data is an important strategy for achieving an economic development curve overtaking.In the process of assetization and capitalization,it is necessary to conduct reasonable evaluation and pricing of data assets.As they are different from traditional assets,existing evaluation methods cannot achieve this goal.Therefore,the improvement of data asset evaluation methods has significant practical significance.To study the improvement of evaluation methods,this article analyzes the value composition of data assets based on their meaning,attributes,and main features.Combined with the applicable conditions of physical options,it explores the evaluation of enterprise data assets through an improved physical option method to break through the limitations of traditional methods.Specifically,this article first introduces the theory of data assets to lay the theoretical foundation.Secondly,starting from the theoretical perspective,it analyzes the limitations of traditional methods,explains the basis and ideas of improvement,and establishes an improved model based on the physical option method.Then,using East Money as a case study,this article analyzes its data assets,applies the improved model for valuation,and verifies its effectiveness.This study shows that(1)traditional methods are not suitable for or seriously underestimate the value of data assets,so it is necessary to improve the evaluation methods of data assets.(2)The introduction of physical options,user value multiplier,triangular fuzzy number theory,and gray prediction model all fit well with the attributes and main features of data assets,and the improved method is feasible.(3)The case study of East Money found that the valuation results of the improved model accounted for 14.91%to 14.94%of the market value.Through sensitivity analysis,it fully reflects the value of data assets and proves the effectiveness of the improved method.Therefore,through this study,the following revelations are obtained:(1)From the perspective of investors’ investment,when evaluating data assets,potential value should be fully considered.(2)From the perspective of enterprise management,when evaluating data assets,it can help companies fully recognize the importance of data assets to empower them.(3)From the perspective of government supervision,when evaluating data assets,it can promote the healthy and comprehensive development of data elements.