Case Study On Value Evaluation Of JD Mall

With the development of modern society,the Internet industry is rapidly changing people's lives,and human beings are increasingly relying on the Internet for social activities.New Internet formats such as e-commerce,big data,and artificial intelligence are constantly appearing.At the same time,due to the accelerated technological innovation in the Internet industry and the large investment in technology research and development,the business model is significantly different from the traditional business model.Unlike traditional businesses.This is especially true for e-commerce Internet companies.E-commerce Internet companies have the characteristics of light assets,multiple models,and difficult asset pricing,which is in stark contrast to the characteristics of traditional manufacturing companies.It is precisely because of these factors that the valuation of such companies is different from the valuation of traditional enterprises.Based on this,this paper chooses JDMall,which is a typical representative of e-commerce,as the research object,to study the applicability of different valuation models in the valuation of such e-commerce enterprises.This paper is divided into five parts.The introduction part mainly introduces the background,significance,literature review at home and abroad,and the framework structure and innovation of the paper.The first chapter introduces the main methods of corporate valuation: traditional valuation method,EVA valuation method,B-S valuation method.In addition,the limitations of traditional valuation methods in the valuation of e-commerce Internet companies were analyzed.The second chapter mainly introduces the development of China's e-commerce.Among them,the definition and characteristics of e-commerce are discussed,and the actual situation of e-commerce development in China is deeply analyzed.The third chapter mainly discusses the value evaluation process and results of Jingdong Mall.In this chapter,the FCFF valuation model,the relative valuation model,the EVA model,and the BS model in the traditional valuation method are used to analyze the specific valuation problems of JD Mall,and the valuation ideas are summarized.The specific value of JD Mall under different valuation models.The fourth chapter is mainly to compare and analyze the specific results obtained by the valuation model used.The fifth chapter is conclusions and recommendations.After the above comparative study,the paper draws relevant conclusions.Because of the uniqueness of JD business model and the particularity of valuation,it can be observed that no model is fully compatible with its actual value.Each model has this or that.Insufficient.However,from another perspective,in terms of the analysis results obtained by the paper,compared with the traditional valuation model,the EVA model and the BS model have comparative advantages for the evaluation of JD,so the valuation of such enterprises,The EVA method and the BS method can be used as one of the alternatives for the reference value evaluation method of such companies.