Analysis On The Valuation Of Game Live Streaming Business With EVA Model

The vigorous development of mobile Internet and communication technology has made games an indispensable entertainment project for contemporary young people.The related livebroadcast platforms for games have sprung up,and the industry has also entered a mature stage.This article analyzes the characteristics of the game-live-broadcast industry and the advantages and disadvantages of each valuation method.Finally choosing to use the EVA model to evaluate the industry.The EVA model takes into account the opportunity cost of corporate equity capital and discounts economic profits;it will adjust accounting subjects that have nothing to do with production and operation activities and seriously affect profitability,and ultimately make the valuation result more reflect the company's intrinsic value and profitability.Profitability.However,the EVA model has high requirements on the authenticity and completeness of corporate financial data,and it cannot reflect the prediction of market participants about company's investment value.Therefore,this paper has revised the original model of the market method.By analyzing the intrinsic driving factors,strengths,weaknesses,and scope of application of the price-earnings ratio,price-to-book ratio,and market-to-sales ratio,the final selection of the price-earnings ratio index is included in the adjustment range of the EVA model.The fourth chapter of this article introduces the leading company in the game-live-broadcast industry,JOYY,to analyze the EVA model and its amendments.Finally,it is concluded that,compared with the original EVA model before the amendment,the correction between the result with revised method and the market value of the company on the base date of the evaluation is smaller,and the revised method makes the valuation result not only reflect the financial operation and intrinsic value of the enterprise,but also be closer to the market's comprehensive evaluation of the company's value.