Value Evaluation For Digital Reading Enterprise

Since the 21 st century,the rapid development of the mobile Internet and the popularity of smart phones have changed reading behaviors and habits,and the trend of all people reading has become digital reading from traditional reading.According to the 2018 white paper on China’s digital reading,the overall market size of China’s digital reading has reached 25.45 billion yuan by 2018,up 19.6 percent year-on-year,with the mass reading market accounting for nearly 90 percent.With the development of Internet and digital technology,a large number of private enterprises have poured into the field of digital reading,becoming an important driving force for the development of digital reading industry.With the successive listing of digital reading enterprises,the introduction of venture capital and mergers and acquisitions in participating digital reading enterprises becomes more and more frequent,but the valuation field of digital reading enterprises is almost blank.Therefore,for the digital reading industry,the current stage is in urgent need of a reasonable evaluation and correct evaluation of the enterprise value of digital reading,which is also a prerequisite for guiding the orderly development of the industry.Firstly,this paper reviews the literature after sorting out the studies on B/S model and DCF model at home and abroad.Secondly,the definition,classification,characteristics and common evaluation methods of enterprise value evaluation of digital reading are elaborated,and relevant theories of the research are introduced.By analyzing the defects and limitations of the basic evaluation methods in the digital reading of enterprise value evaluation,this paper further explains the combination method of DCF and B/S model,and then determines the evaluation method of comprehensive evaluation of the current stable income and potential profitability according to the characteristics of the two different capabilities of enterprise value: existing business and potential profit.DCF model and B/S model are respectively applied in enterprise value evaluation.By analyzing the characteristics of digital enterprise profit model and the large proportion of copyright and other resources,the penetration rate of APP users in the same field is introduced to modify the B/S model,and the modified dcf-b /S model is applied to calculate the overall value of the enterprise.Finally,this paper USES the modified dcf-b /S model to evaluate the value of digital reading technology in the first echelon of listed enterprises,validates the value evaluation results of case enterprises,and draws the conclusion that the modified model is feasible in the value evaluation of digital reading enterprises.