Research On The Evaluation Value Of Internet+Retail Enterprises Based On EVA Model

As the internet economy advanced,the market of traditional retailing has been replaced by Internet+ retailing gradually.Also,the traditional retailing has been challenged unprecedentedly than ever before.At that moment,the idea of “Internet Plus” was born.The “Internet Plus”,which combines internet with traditional retailing,promotes the transition of traditional retailing industry,assists traditional retailing enterprises with the procedure of production,management,logistics and sales,and plays a significant role in the reallocation of resources advantages.What’s more,“Internet Plus” becomes a kind of new economic form which is expedited by the development of internet industry in the 21 st century.Because of the effects of mergers-and-acquisition activity,risk investment,enterprise finance management,financing,the need for accurate assessment of internet plus retail enterprises has been taken into consideration.However,it is the great differences between internet plus retail enterprises and traditional retailing enterprises in marketing approach and management model that leads to the fact that evaluating the value of internet plus retail enterprises with the application of an exclusively traditional assessment model is seen to be apparently inappropriate.Since the discount cash flow model,cost method and market approach has been denied,“EVA-oriented assessment model” will be adopted to evaluate the true enterprise value of internet plus retail enterprises in this dissertation.With the application of EVA and the combination of it’s and internet plus retail enterprises,it is accurately and reliably reflected the profits of internet plus retail enterprise.The beginning part of this dissertation is the current situation of internet plus retail industry.Author will further dig out the traditional evaluation model of internet plus retail enterprises,deeply analyses its advantages and disadvantages and ranges of applicability,accurately evaluate the value of internet plus retail enterprises by the application of “EVA-oriented assessment model”.Through comparison and analysis,the most reasonable “EVA-oriented assessment model” is to be chosen to evaluate the value of internet plus retail industry.The second part of this dissertation deals with some typical case studies of internet plus retail industry,that of Yonghui.Author will do financial analyzing work of Yonghui,refresh relevant accounting projects according to the characteristics of internet plus retail industry and the combination of historical path and development trend by the application of “EVA-oriented assessment model”.Then count the EVA quantities accordingly,discount them to their present value,conclude the intrinsic value of Yonghui,and prove the reliability and validity of “EVA-oriented assessment model” compared with the stock price in A-share market.The final part of this dissertation summarizes the advantages of internet plus retail industry,analyses the limitation of this research and “EVA-oriented assessment model”,make some improvements and synthesize some basic empirical rules.