Value Evaluation Of Tinterne Enterprises Based On DEVA Model

As one of the greatest inventions of human beings in the twenty-first Century,the Internet is gradually becoming a strategic infrastructure for the development of human society in the information age.It promotes profound changes in production and life style,and the influence of the Internet economy in the economic structure is becoming more and more important.The forty-first statistical report on the development of China Internet network published by the China Internet Information Center(CNNIC)shows that as of December 2017,the number of netizens in China was 772 million,and a total of 40 million 740 thousand new netizens were added throughout the year.Internet penetration rate was 55.8%,an increase of 2.6 percentage points from the end of 2016.From the scale of the development of the Internet in China,the Internet economy will have a broader space for development in the future,and will also have a greater role in promoting the growth of the national economy.From the scale of the development of Internet in China,the Internet economy will have broader development space in the future,and will also play a greater role in promoting the growth of the national economy.Under the rapid development of Internet economy,the Internet industry is also very active in China's capital market.According to Wind statistics,as of December 2017,the number of Internet companies listed in China and abroad reached 102,with a total market value of 8 trillion and 970 billion yuan.The market share of Tencent,Alibaba and Baidu Inc account for 73.9% of the total market value.Therefore,the objective and fair evaluation of the value of Internet enterprises has become the focus of attention.To establish a reasonable and effective valuation system for Internet companies is very important for the sustainable development of Internet industry and the investment decisions of Internet companies.This paper,taking the rapid development of Internet economy as the background,combs the relevant literature of the Internet enterprise value evaluation,and combines the characteristics of the Internet enterprise development,and studies the method of the value evaluation of the Internet enterprise before the profit ability enters the stable and mature stage.First of all,this article is an overview of Internet enterprises.This paper introduces the concept of Internet enterprises,the characteristics of Internet companies,and the factors that influence the value of Internet enterprises.Then,combined with the characteristics and value factors of Internet companies,the evaluation model is built,and the characteristics and application scope of the models are analyzed.Then the selected cases are introduced and the model is applied to the case to verify the rationality and feasibility of the model of the Internet enterprise value evaluation constructed in this paper.Finally,based on the above theories and case studies,the conclusions of the improved model and the prospect of Internet enterprise valuation are presented.The most prominent part of this paper is to improve the DEVA model as follows: one is the improvement of the user value standard;the two is to adjust the relationship between the value of the Internet enterprise and the contribution of the user;the three is the introduction of the market share;and the four is the introduction of the scale and liquidity adjustment coefficient.The improved DEVA model is more consistent with today's diversified and rapidly developing Internet business valuation,regardless of parameter selection or value driving factors.It is hoped that this study can promote the improvement and improvement of the theory and methods of the value evaluation of Internet enterprises.