Internet Game Enterprise Value Evaluation Based On Improved Residual Income And B-S Option Model

In recent years,with the rapid development of the digital economy,the Internet and smartphones have rapidly entered our daily lives,and the internet game industry has greatly developed.Online games have become an indispensable entertainment method for many young people nowadays.The outbreak of the COVID-19 epidemic has changed the social and industrial structure and accelerated the development of the digital economy,becoming a new engine to promote economic development and injecting new momentum into the global downturn economy.The further development of digital entertainment and online shopping is conducive to tapping the consumption potential of domestic demand.In the process of continuous development and growth of online game enterprises,investment and financing between enterprises,mergers and acquisitions of online game enterprises,and other resource integration activities are becoming increasingly frequent.Therefore,it is necessary to accurately evaluate and judge the valuation of relevant internet game companies.Based on the above background,it is necessary to find a suitable method to evaluate the game industry.Internet game companies have characteristics such as high risk,high growth,and light assets.Traditional evaluation methods may have certain limitations when evaluating the value of Internet game companies.This article will analyze the current development situation of the internet game industry,sort out relevant literature reviews,and based on traditional evaluation methods,analyze the characteristics of internet game enterprise evaluation and the applicability of the model according to the relevant characteristics of high uncertainty and high growth of internet game enterprises.The evaluation case of internet game enterprises is divided into two parts:stable income value and potential income value,The improved residual income model is used to evaluate the stable income value,and the B-S option pricing model is used to evaluate the potential income value.Finally,through comparative analysis of different value evaluation methods,this article clarifies the effectiveness of improved residual income and B-S option models in the value evaluation of Internet game companies.This study found that the difference between the enterprise value of Internet games calculated using the improved residual income and B-S option model and the actual value of the enterprise is small,in line with expectations.The conclusions of this study have strong practical value,which can make up for the shortcomings of traditional evaluation methods used in the practical evaluation of Internet game enterprises,and enrich the methods and means for evaluating the value of Internet game enterprises.