The Research Of Introducing Non-financial Factors To Modify EVA On Enterprise Value Assessment Of Online Education

In the 21 st century,the concept of "Internet plus" has been popular in China,traditional industries have combined themselves with Internet technology to form a new trend of Internet development.Online education enterprises as an important part of national attention and support,plays an irreplaceable role in the Internet industry,which is also representative in the evaluation practice,so choosing online education enterprise as the research object in this paper.Compared with traditional enterprises,online education enterprises have a great difference in enterprise characteristics and profit model,and it belongs to the typical light assets of enterprises,intensive technology,highly dependent on users and talents,high risk industry,intensive competition,so when evaluating online education enterprise value,the financial factors such as profit ability,operation ability,debt structure,can’t fully reflect the value of the enterprise.Non-financial factors such as customer loyalty,the quality and effect of the course,faculty,research and innovation,and employee satisfaction are of great importance to the online education enterprise value.Therefore,the online education enterprises should be evaluated from both financial and non-financial factors.In this paper,the evaluation of online education enterprise value is based on the combination of "financial factor + non-financial factor".This article discusses the characteristics and the profit model of online education enterprise,and analyzes the factors that affect the corporate value,compared with several commonly used evaluation methods,coming to the conclusion that EVA is more suitable for online education enterprise valuation,therefore,EVA was selected to evaluate the basic value of online education from the perspective of financial factors;using the theory of balanced scorecard and the influence of external environment on enterprise value,starting from the four dimensions of customer,internal operation,learning and innovation and enterprise external environment to determine the non-financial factors that affect the enterprise value and establish the non-financial index system of online education enterprise value evaluation.Among them,analytic hierarchy process and expert scoring method are used to determine the weight and correction coefficient of each indicator,and then the adjustment coefficient of the whole non-financial index system is obtained.Establishing a new model of introducing non-financial factors to modify EVA on enterprise value assessment of online education,using the adjustment coefficient of non-financial index to modify the basic value of enterprise based on EVA model;Finally,the evaluation model of introducing non-financial factor to modify EVA is applied to the representative online education enterprise--new Oriental network,the feasibility and superiority of the new evaluation model are verified through case analysis,proposed a new model of enterprise value assessment which is suitable for online education and other Internet companies with similar characteristics.