Evaluation Of Internet Enterprise Value Based On Improved EVA Method

Since 1994,when China formally accessed the world internet,in just over 20 years,the Internet has changed our lives imperceptibly.During this period,a number of Internet companies relying on network technology have been emerging.As a representative of high-tech enterprises,Internet enterprises are different from traditional enterprises in capital composition,human capital,marketing focus and so on.Internet enterprises,dominated by patent technology and intangible assets,belong to light assets enterprises.With the continuous development of technological level,Internet enterprises need employees not only to master the theory of high-tech technology,but also to have the ability to quickly understand and accept new knowledge.Therefore,compared with traditional enterprises,Internet enterprises need more high-level talents.The core competitiveness of enterprises can be improved only by increasing investment in scientific research and rational use of technical personnel.However,the level of human capital and R&D innovation ability can not only be reflected in financial statements,but also need to be reflected by non-financial indicators such as the level of education of employees,product innovation and so on.The products of traditional enterprises are mostly displayed in the form of entity in front of consumers,while the products of Internet enterprises exist in a virtual state,so its marketing focuses more on improving user experience.The better the user experience,the easier the product will be promoted,and the income of the enterprise will increase accordingly.However,the level of user experience can not be reflected solely from the income of enterprises.It also needs to be analyzed with non-financial indicators such as user loyalty,retention time,web click-through rate and so on.In addition,the strategic deployment and management level of Internet enterprises also deeply affect the value of enterprises.From this,we can see that the factors affecting the value of Internet enterprises include not only financial factors,but also a large number of non-financial factors.The traditional evaluation method is based on the long-term study of traditional enterprises.It reflects more the performance of enterprises in terms of financial indicators,and does not take into account the impact of non-financial factors on the value of enterprises,so it can not be used to accurately evaluate the value of Internet enterprises.In addition,in the development process of Internet enterprises,whether based on their own management needs or investment and financing activities such as mergers and acquisitions,reorganization,listing and financing,all can not be separated from the rational evaluation of the value of Internet enterprises,which makes it particularly important to reconstruct a method suitable for the evaluation of Internet enterprises.Combining the principle of "qualitative + quantitative",this paper first selects the EVA method which is more consistent with the characteristics of Internet companies,and evaluates the basic value of Internet enterprises.Combined with the characteristics of Internet companies,it determines the factors affecting the value of enterprises and re-establishes the evaluation index system.Non-financial factors are integrated into the evaluation process to obtain an improved EVA method that is more suitable for Internet enterprise value assessment,providing a new solution for Internet enterprise value assessment.