Research On Internet Media Enterprise Valuation Based On Modified DEVA Model

Since the 13 th Five-year Plan,the operating revenue of the Internet companies above the scale of our country has been increasing year by year,and by the end of 2019,they have broken through the trillion mark.In these two years,the Internet company’s operating income growth rate of 21% year-on-year,has been steadily forward.In the "digital" era,online literature,online music and online video network media products have become the focus of public entertainment consumption.With the introduction of mobile 5G and other technologies,the Internet media industry to accelerate the pace of upgrading faster and faster,emerging Internet enterprises are also booming.Belonging to the Internet video content production industry prospects,as a new era of economic development,it has a significant role in promoting the development of modern economy.Therefore,how to carry on the fair,the reasonable appraisal to the Internet media enterprise,becomes a very vital question.The characteristics of Internet media enterprises determine that they have some limitations if they simply apply the ordinary enterprise value evaluation methods.Therefore,it is very important to establish a set of valuation methods for Internet media enterprises.Based on the literature review,this thesis summarizes the characteristics and difficulties of Internet media enterprise value evaluation,including the profitability,asset structure,cash flow and technological innovation.Then it analyzes the applicability of traditional enterprise valuation model and DEVA valuation model in Internet media enterprises.Finally,on the basis of this,the thesis corrects the function relationship of the traditional DEVA model,introduces the business adjustment coefficient and market share,corrects and improves the traditional DEVA model,and constructs a more scientific model to fit the actual value of natural selection.In the case study,the modified DEVA model is used to evaluate the value of natural selection.Compared with the market value of natural selection,the modified DEVA model has a deviation rate of only 2.66%.Based on the modified DEVA model,this thesis studies the valuation of Internet media enterprises,which has some enlightenment and practical significance for the development of China’s Internet media enterprise valuation theory.