Research On The Valuation Of Listed Companies In Software And Information Technology Service Industry Based On EVA Model

Software and information technology service industry is a national strategic emerging industry with high added value.Compared with the enterprises in other industries,the fluctuation of the transaction price of the software and information technology service industry enterprises is more severe in a period of time after the issuance and listing,which indicates that the valuation results obtained by using the current common evaluation methods in the capital market can not well reflect the actual value of such enterprises.At the same time,listed companies in software and information technology service industry have the characteristics of high risk,strong uncertainty in the future and large proportion of intangible assets.Investors have lower consensus on the value of such listed companies and greater differences.Therefore,it is urgent to choose appropriate valuation methods to properly reflect the value of such listed companies.In this paper,EVA valuation model is introduced into the valuation of Listed Companies in software and information technology service industry.Combined with the unique characteristics of this industry,the valuation method of Listed Companies in software and information technology service industry is innovated by appropriate modification and adjustment according to local conditions,which provides a new idea for the valuation of such listed companies.The main research contents of this paper are as follows: the first part describes the basic concepts and related theoretical basis involved in this paper,and analyzes the characteristics of the valuation of Listed Companies in software and information technology services industry and the traditional valuation model.The third part is the application of EVA valuation model,which takes the technology innovation board software and Information Technology Service Industry Listed Company Jinshan office as a case to evaluate the value.It is calculated that the enterprise value of Jinshan office at the end of 2019 is close to the actual market price at that time.At the same time,it also selects the traditional valuation method to evaluate Jinshan office.After comparing the results,it shows that EVA valuation method is more suitable for soft market Valuation of Listed Companies in information technology and service industry.The fourth part is the summary of this paper,and prospects the research on the valuation of Listed Companies in software and information technology service industry.To sum up,the valuation of Listed Companies in software and information technology service industry should be based on local conditions,specific analysis,combined with the characteristics of the industry to carry out targeted value assessment;we can not blindly apply the traditional valuation model,mechanically,resulting in a substantial deviation between the valuation results and the actual price,which will bring investors wrong value judgment,resulting in serious investment losses.