Value Evaluation Of Newly Emerging Industry Enterprises Based On The Residual Income Method

With the upgrading of industrial structure adjustment,technological information innovation,the rapid development of new formats of Internet companies has made an increasing important difference to the economic development.Merger and acquisition transactions of the emerging Internet industry is more and more frequent,so the valuation of the industry's business value is also growing.However,the traditional three methods,market approach,cost method and income method have been unable to meet the needs of emerging business enterprise value assessment.How to evaluate the value of emerging Internet enterprises and get the reasonable value of Internet enterprises has become an urgent problem to be solved.At present,it is difficult to assess the value of the newly developed Internet enterprises by traditional enterprise value evaluation model.In view of the high potentiality,high growth and uncertainty of the emerging Internet enterprises,this paper studies the value evaluation of Internet enterprises based on the residual income evaluation model,and further studies whether the residual income evaluation model can be applied to the value of emerging Internet enterprises Assessment,in order to better reflect the true value of the enterprise is particularly urgent.This paper includes both theoretical research and practical application,The theoretical research part mainly summarizes the literature.First of all,to comb and summarize literature of the enterprise value assessment theory,residual income evaluation methods,the new format of enterprise value evaluation methods from the perspective of domestic and foreign respectively.Secondly,based on the residual income theory in the literature as the research foundation,through the study of the model background,model deduction,residual income two stage model in the Internet enterprise value evaluation,model parameter accounting research,and build the residual income two stages model.Finally,the comparative analysis method is used to compare the cost method,the free cash flow model evaluation method,the EVA method and the residual income evaluation method.It is theoretically concluded that the residual income evaluation method is more suitable for the new business enterprise value evaluation in conclusion.In the process of practical application research,the case analysis method is adopted to evaluate the value of the residual value.The residual income evaluation model can be compared with the market value of the company,and the residual income evaluation method can be compared with the company's market value.The conclusion is that the evaluation model of the residual income is valid in the new enterprise.This paper provides a residual income evaluation model for the evaluation of the whole process of a new industry of Internet enterprise value.At the same time,through the evaluation case the residual income method is more scientific and appropriate assessment of emerging business value of Internet companies.Along with China's new industry of Internet enterprise information and openness continues to improve,the residual income method in the emerging business Internet enterprise will be more extensive.