Research On Value Evaluation Of Listed Companies On The Sci-Tech Innovation Board Based On Market Modification Model

In order to adapt to international situation,China set up Sci-Tech Innovation Board to help high-tech companies.Due to high risk of Sci-tech Innovation Board,it is important to assess the value of listed companies on Sci-Tech Innovation Board.The study selects financial and non-financial indicators from multiple dimensions by using factor analysis and multiple regression models.The research results show that value driving factors affecting listed companies on Sci-Tech Innovation Board are debt repayment and profitability factors,market price factors,technological innovation factors,human capital factors,and growth factors.Through the cluster analysis of value-driven indicators,the new generation of science and technology enterprises are divided into three categories.The index ranges for different types of enterprises provide a reference for the selection of comparable companies.The traditional market method model was revised,and multi-dimensional weight and value ratio indicators were added,then a revised market valuation model was constructed.The applicability of the revised market method is verified by case.The difference between the actual value and the value of different valuation models is compared.The case results showed that the error rate of the revised market model was lower,which was lower than that of the traditional market method.