Research On Value Assessment Method Of Online Education Companies

As one of the greatest inventions of mankind in the last century, the Internet is playing a more and more important role in today’s information society. With the Internet gradual penetration into all aspects of human life, our production and business operation model and way of life has had the profound changes, significant changes have taken place in the social economic pattern. As a strategic infrastructure, the Internet is promoting the progress of human society. The explosive growth of the industry and the Internet companies competing in the listing are new wave surges. More and more researchers pay attention on how to accurately evaluate the Internet enterprise value.Taking into account the online education business is an integral part of the Internet industries, and is one of the key national concerns support, representative in assessment practice. In order to make a more detailed specific study, the paper selects the online education companies as the research perspective. Online education companies are same as others Internet companies, they business model, profit model are very different from traditional companies. Online education company is a typical asset-light company, its characteristics including high innovation ability, high professional quality of personnel, highly competitive and high risk. Its value depends on product innovation and scarcity, at the same time depends on consumer satisfaction and loyalty. Therefore, when considering online education enterprise value, financial factors such as profitability, costs, debt structure, etc. cannot be fully representative of the value of enterprises, non-financial factors also evaluating online education enterprise value. These non-financial factors include the number of customers, business research and innovation capacity, the external environment and corporate culture. When the business needs the value of online education enterprise, evaluating enterprise value should consider financial factors and non-financial factors that affect its value. Based on the literature review, at present on the Internet enterprise value assessment evaluation research is from the financial factors to consider, less involved in the non-financial factors. This paper aims to use "financial + non-financial" valuation method, comprehensively considering the influence of financial and non-financial factors on online education enterprise value. In financial aspect, the paper chooses the EVA evaluation model to evaluate the online education enterprises, and the model is more in line with the characteristics of enterprises; In non-financial aspect, the paper builds an online education non-financial index system of enterprise value assessment, and according to the non-financial index system to determine the correction coefficient to modify the enterprise value, thus for online education enterprise value assessment and Internet enterprise value assessment provides new train of thought.In this paper, first of all, by comparing the current Internet enterprise value evaluation methods, considering the characteristics of Internet companies and analyzing the applicability of the various evaluation methods, I choose the EVA model which is more in line with the characteristics of the value of Internet companies. An approach to the evaluation of the revised EVA considering non financial factors is proposed. After that, according to the current situation, characteristic and profit model of online education enterprise to confirm the non-financial factors these affect the enterprise value, set up the non-financial indicators, and to build an online business education system to assess the value of non-financial indicators from the perspective of non-financial. The non-financial indicators weights obtained by method of AHP and expert scoring; Building a new online education business valuation model and using the non-financial indicators correction coefficient to modify the enterprise value evaluation which based on EVA model. Finally, the new evaluation model will be applied to the specific case and to evaluate the value of the typical online education enterprise named Guangdong Qtone Education Co., Ltd. The feasibility and applicability of the new evaluation method are verified by the case, so as to put forward a new idea for online education enterprise and Internet enterprise value assessment.