Application Research On Enterprise Value Assessment Of E-Commerce Platform Based On Modified DEVA Model

E-commerce has developed particularly rapidly in recent years.Platform enterprises actively seek listing to expand the financing scale,so that the investment and financing activities of such enterprises are closely followed by people,and the reasonable valuation of e-commerce platform enterprises is particularly important.Currently loss-making platform enterprises do not necessarily have low investment value,and the investment value depends more on the future development potential.E-commerce platform companies with great development potential are committed to investing in enterprises themselves,especially in technology and mode innovation.The value evaluation of e-commerce platform enterprises cannot be measured by their temporary profit and loss status.It is still a difficult problem for the market to explore continuously to evaluate the enterprise value of e-commerce platform scientifically and effectively.How to effectively solve this problem is the focus of this paper.Compared with traditional enterprises,e-commerce platform enterprises have the characteristics of strong Matthew effect,prominent network effect,rapid replacement speed and obvious economies of scale.Therefore,the evaluation of e-commerce platform enterprises should focus on the impact of non-financial indicators.Obviously,the traditional evaluation method that only relies on financial data is not applicable in the enterprise valuation of e-commerce platform.The core factor that influences e-commerce platform enterprises is user value DEVA(Discounted equity valuation analysis),which takes user contribution as the key indicator,is more suitable for the valuation of e-commerce platform enterprises.Compared with the traditional DEVA model,the modified DEVA method attaches more importance to the contribution of effective users to enterprise value.It corrects the relationship between user value,e-commerce enterprise value and user contribution,and comprehensively considers financial and non-financial factors.The innovation of this paper is to determine the model adjustment coefficient by using the balanced scorecard method.Through the analysis of the influence factors of e-commerce platform enterprise value,platform,enterprises can be divided into financial,customer,process,learning and growing and e-commerce to evaluate five aspects,the method that USES the balanced scorecard to build enterprise comprehensive evaluation index,according to the indexes weights adjustment coefficient determination,fully considering the influence of financial factors and non-financial factors,build effective e-commerce platform enterprise value evaluation model.Based on the case study of cross-border e-commerce platform enterprises,this paper adopts the modified DEVA valuation model to evaluate their value and compares it with the stock market value to conclude that the modified DEVA valuation method can reasonably and effectively evaluate the enterprise value of e-commerce platform.Compared with the traditional enterprise value assessment model,the modified DEVA value assessment model is more effective in evaluating the enterprise value of e-commerce platform.In the future,the enterprise value assessment of e-commerce platform will pay more attention to the measurement of user value,enterprise potential value,etc.,and the modified DEVA value assessment method will be more and more widely used in practice.