Enterprise's Value Evaluation About The Kingdee Software Company

Time flies,with the improve of society and the fast development of science and technology,the software industry is developing in full swing with the support of our government,and it also have more economic activity.In the capital market,enterprise as a special commodity,it experience a series of economic activities,almost all of these are associated with the value assessment on targeted enterprises.As a high-tech enterprise,software enterprises have the characteristics of high proportion of intangible assets,asymmetric income and cost.Therefore,the valuation method of software enterprises is different from traditional enterprises.Moreover,with the gradual development of the evaluation system,the modern value evaluation theory system and the types of models built in the evaluation have become more abundant and perfect.But because the development time of high-tech enterprises such as software enterprises is relatively short in China,the research on software enterprise value evaluation is not profound compared with traditional enterprises.So,a series of complete and accurate software enterprise value evaluation methods are important for the development of software enterprises and even the whole high-tech enterprises.This paper first studies the current research status of foreign and domestic assessment methods,and reviews them.Then it theoretically expounds the characteristics and classification of software enterprises,and analyzes the influencing factors of software enterprise value.On the basis of clarifying the influencing factors of software enterprise value,it makes necessary explanations.Then this paper introduces the three methods commonly used in enterprise value assessment and the new real option method,and analyzes the characteristics of each method,compares and selects,and finally combines the characteristics of intangible assets unique to software companies.The income method in the traditional value assessment method is combined with the real option method to jointly evaluate the corporate value of the case of Kingdee International Software Company.The evaluation process is as follows:Firstly,the free cash flow model in the income method is used to evaluate the value of the net assets and goodwill of Kingdee International Software Company together with the EVA model.In order to reduce the deviation,the results are 50% each Weights.Then use the practical option model to calculate the potential benefits of Kingdee International Software Company.This paper mainly chooses the newartificial intelligence solution that it invested in 2018,and finally calculates the potential income and the net assets obtained from the previous income method.The value of goodwill is added to obtain the overall value of the company's enterprise,and the overall value of the evaluation minus the equity value of the interest-bearing debt is compared with the market value of the evaluation base date.The reason for the analysis error is software.The application of enterprise value assessment methods provides a new idea.