Research On Value Evaluation Of Software And Information Technology Service Enterprises Based On EVA Model And Real Option Model

As a vigorously developed industry in the country,the software and information technology service industry has the characteristics of rapid market environment changes,rapid product updates,high technical requirements,and high uncertainty in corporate decision-making.Traditional valuation models can no longer adapt to software and information technology services.Due to the characteristics of the industry,the evaluation results obtained cannot accurately reflect the true value of the enterprise.Therefore,it is necessary to construct a valuation model suitable for the software and information technology service industry to provide methodological support for frequent economic activities in the industry.Based on the characteristics of the software and information technology service industry,this paper combines the EVA model with the real option model to construct a scientific and reasonable value evaluation model for software and information technology service companies,and takes Zhongke Chuangda as the case object.The model is applied in practice.This article first elaborates related theories and concepts such as enterprise value evaluation,EVA and real option theory;secondly,analyzes the general situation and characteristics of the software and information technology service industry,as well as the difficulties in enterprise value evaluation.Due to the characteristics of its industry,in addition to the value of existing assets,there is also the value of real options in corporate value.Traditional enterprise value evaluation methods cannot fully reflect the overall value of the enterprise.Therefore this paper constructs a combination of EVA model and B-S model.In the case part,this article takes Zhongke Chuangda as an example,uses the EVA model to evaluate the value of Zhongke Chuangda's existing assets,and the B-S model evaluates its potential value in the future.Summarize the values of the two parts to obtain the overall value of Zhongke Chuangda,and use the stock price on the evaluation base date as the reference standard to verify the evaluation results.The research results of this paper show that,compared to only using traditional value evaluation methods,the combined model constructed in this paper can more accurately evaluate the intrinsic value of software and information technology service companies.Through the value evaluation of Zhongke Chuangda and the comparison with the market price of the evaluation benchmark day,the applicability of the EVA model and the BS model is verified,and it provides reference and cases for the value evaluation of other companies.Providing accurate information to help them make scientific and reasonable decisions and better promote the development of the industry...