Valuation Of Software And Information Technology Service Enterprises On The Science And Technology Innovation Board

In the context of the era of artificial intelligence and big data,the software and information technology service industry has been developing rapidly.The Ministry of Industry and Information Technology and other government departments have also continuously issued industry development plans and guidance,and implemented corresponding fiscal and tax policies to improve the country's industrial structure.Transformation and upgrading and strengthening the country's hard power have important strategic significance.However,due to the characteristics of the software and information service technology industry,many companies are still in the product development stage,requiring a large amount of research and development expenses,and facing the problem of financing difficulties.The establishment of the Science and Technology Innovation Board aims to provide a financing environment for enterprises with the attributes of science and innovation and to promote the high-quality development of the real economy.The software and information technology service industry is exactly the new generation of information technology industries supported by the Science and Technology Innovation Board.The application for listing on the Science and Technology Innovation Board can obtain financing,which is conducive to the smooth progress of research and development projects.After the establishment of the Science and Technology Innovation Board,the research in this article was carried out based on the urgent need for the establishment of its corporate value evaluation method.There are many industries for listed companies on the Science and Technology Innovation Board,including software and information technology service industries.Although they are all high-tech industries,they may not have stable cash flow.Traditional valuation methods are not applicable.It is necessary to analyze and construct suitable method of enterprise value assessment for the Science and Technology Innovation Board market.This paper first describes related concepts and theoretical foundations,including enterprise value evaluation theory and real option theory,etc.;then,it analyzes the characteristics of Science and Technology Innovation Board software and information technology service enterprises,and obtains the value of software and information technology service enterprises.It contains conclusions that are expressed as the real option value of the investment project.Then it puts forward the difficulties in the valuation of Science and Technology Innovation Board companies,such as the limitations of traditional valuation methods.In order to make up for the shortcomings of traditional valuation methods,this paper constructs a combined evaluation method combining EVA method and B-S option model,calculates the current value and potential value respectively,and conducts feasibility analysis.Finally,take Kingsoft Office,a typical enterprise of science and technology innovation board software and information technology services,as a case study,use the above model to obtain the overall value of the enterprise through addition,and compare it with the market value of its evaluation base date.The error is small,which verifies the evaluation model's performance.Effectiveness and make relevant suggestions.The research in this paper provides valuable corporate valuation results for the Science and Technology Innovation Board market transactions and investment activities,and provides reference opinions for the decision-making of the senior managers of the case companies.