Angel Investment Enterprise Evaluation Method And Application Research

Since Irving Fisher put forward the theory of capital value to lay the theoretical foundation of modern value evaluation,the theory of value evaluation has been perfected and deeply developed,but the research on angel investment value evaluation is still a new topic.The current system of valuation methods consists of four main methods:income method,cost method,market method and real option method.The other methods are explored and improved according to the needs of valuation.In this paper,we found that the traditional value evaluation method and the commonly used angel investment evaluation method can not evaluate the angel investment phase of the project.On the basis of the above valuation methods,and in view of the characteristics of angel investment value evaluation,this paper puts forward the concept of overall value,and constructs the holistic valuation method and the holistic valuation model:V=V_a+V_f.In the holistic valuation method,the target value V includes not only the realized financial value V_a,but also the unrealized future value V_f.The future value V_f is related to V_a through the premium coefficient D of value related factors.The holistic valuation methodis is not only a financial method for valuation,but also a practical management method.By setting the premium coefficient D,we can judge the future value growth space of the evaluation object,at the same time,we can strengthen the value management,perfect the enterprise system and enhance the core competitiveness of the company by improving the related projects with low premium coefficient.The holistic valuation model starts with the valuation of the angel investment stage,but it is also applicable to other types of projects.