Research On Software And Information Technology Services Enterprise Value Evaluation Based On EVA-BS Model

For the past few years,The Web of Things,cloud computing and AI are developing rapidly,China's soft service industry will continue to develop rapidly and more and more advanced.At the same time,Software industry enterprises increasingly begin to conduct active economic activities in the capital market,and the increase of these economic behavior has also led to the development of software industry enterprise value evaluation.Therefore,in order to the sustainable development of the software industry,It is necessary to analyze and access the real value of listed enterprise,to analyze whether their market value is different from theirs,whether it is a phenomenon of financing benefits or financing bubbles.This paper first focuses on the relevant theories of enterprise value evaluation in software industry,summarizes the literature of domestic and foreign researchers on the evaluation of enterprise value in software and information technology service industry,analyzes the value composition of software industry enterprises,The total value of the company is divided into the profit value of existing assets and the potential profit value.This paper analyzes the characteristics of enterprise value evaluation in software industry,analyzes the limitations of evaluating the value of such enterprises by general evaluation,and puts forward a new exploration to evaluate the enterprise value of software industry by means of EVA-BS combination model.Secondly,by analyzing the limitations of single EVA and single B-S model in the valuation of software and IT service enterprises and the applicability of EVA-BS combination model,the conclusion is drawn that the EVA-BS combination model is superior to the traditional single valuation model.Thirdly,IFLYTEK,a typical representative in the software industry,is taken as the research object of this case analysis.The intrinsic value of its existing assets is calculated through the EVA model,the potential profit value of its project is estimated by adjusting the B-S model,and the feasibility of the model is verified by comparing the final evaluation results.The results of this paper show that :(1)The application of a single evaluation method to the software industry enterprise value evaluation has a single applicability,can not reflect the potential value of the enterprise and other deficiencies.According to the evaluation characteristics of software industry enterprises and the characteristics of related components,EVA-BS combination model can be said to be a kind of evaluation methods that we can choose.(2)According to the comparison of the market price of relevant companies at the evaluation point of IFLYTEK Co.,Ltd.,and the evaluated intrinsic value of the company,the applicability of EVA-BS portfolio model was fully recognized and verified.The contribution of this paper is that it evaluates the value of software enterprises through the construction of EVA-BS combination model with the help of relatively mature related research theories and evaluation methods,and enriches the evaluation research of such enterprises by revising and adjusting the model.It provides a good attempt to explore the new method of enterprise value evaluation and has certain practical significance.