| Under the double stimulation between the gradually developing IOT technology and "the Twelfth Five-year Plan of IOT Policy", this emerging industry is developing rapidly in China, which has been reached the scale of3650billion Yuan and hundreds of enterprises in the field. Its application is small to identification, software designation, supervisory, as well as big enough to intelligent home furnishing, intelligent traffic, intelligent security, intelligent medical etc.Even the "building a Smarter Planet" cannot do without the support of the IOT technology too. It is not only compatible with the integrated system of the Internet, but also can be connected to extension to between people and objects, objects and objects, so that it can realize the free transformation of information in any medium. The technological change will become the favorable opportunity to promote industrial transformation and upgrading, and further push the transformation of China’s economic growth mode and the construction of new intelligent mode. Although the prospect of the industry active good, the growth of inter enterprises are uneven which are easily influenced by external uncertain factors. Such volatility of these concept stocks will lead to deviation from the true value. Go down for a long time, on the one hand it can miss the strategy choice and value management of enterprise, on the other hand it also easily cause the expansion of speculative behavior and disrupt the order of the securities market, seriously it can initiate the financial crisis.Based on the above research background, we know it is crucial to assess the real value. So this paper bases on this, choosed the listed enterprises of IOT as the research object. Through consulting a large number of documents and data, I thorough analysised the features and value form of the listed enterprises of IOT, so as the basis construct evaluation system of comprehensive value for authentic assessment. Firstly, this paper limited the scope of the enterprises of IOT and summarized these development characteristics, then on the basis of previous research I introduced the concept of "comprehensive enterprise value", the multiple of its existing value and future value, which formed a theory the premise of this study. In the related concepts and theoretical basis, combining with the route on value creation of the listed enterprises of IOT, established annular influencing factors system from the outside to the inside. Through the analysis:the top layer and the middle layer mainly affect output and circulating of the enterprise value, while the core factors is the key to create and increase the enterprise value. And the core factors are summarized as the core technology, intellectual capital, corporate culture, business model and industry prospects. After comparing the merits and faults of each evaluation method, I choosed economic value added method and real option method, built combination evaluation model of EVA-B/S and made application to the Newland for empirical evaluation. On the one hand calculated the contribution of each part of the comprehensive enterprise value, on the other hand, with the stock price comparison, found that the enterprise market value has been underestimated, and analyzed the reason of it. This result is helpful for the enterprises to make decisions and strategic planning under the market mechanism practical significance given the certain methods, which give the method some practical implications. Finally pay attention to the problems in the process of application, so that it can be better spread. |
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