| The information technology society is developing,so the Internet has penetrated into all fields of economy,politics,society and people’s life,and in recent years,the "Internet and Finance" thinking has begun to popularize,and the scale of Internet financial management users has been expanding.In the future,the focus of the government’s economic work will be to adjust the economic structure,cultivate new growth points,and make efforts in new business forms.Policy promotion coupled with demand growth,the online brokerage industry is in the ascendant,giving rise to the demand for the value assessment of industry enterprises,how to reasonably evaluate the industry currently has no reference opinions,how to build a scientific and effective value evaluation system and ensure the reliability and accuracy of the assessment results has become a difficult point.Scientific and reasonable assessment of the value of Internet brokerages can accurately see their investment value and promote the development of this industry.This paper first starts from the value characteristics and composition of online securities firms,points out the factors affecting the value of online securities firms from the financial factors and non-financial factors,analyzes and evaluates the applicability of the methods of online securities firms in view of the improvement of the value assessment methods of Internet securities firms,puts forward the compatibility between the EVA model and the value characteristics of Internet securities firms,and adjusts the accounting items of the EVA model to make them more in line with the value characteristics of Internet securities firms.The non-financial factors are included in the assessment of the enterprise value of Internet brokers,and a scheme for building an index system to comprehensively measure the value of enterprises is proposed.And take East Money Information Co.,Ltd.as an example to calculate the EVA value.On this basis,an index system combining non-financial factors is constructed,and the entropy weight method is used to determine the weight of each value influencing factor,which provides a reference for the value assessment of Internet brokerage enterprises.The results of the research are evaluated and concluded:(1)Internet securities enterprises have the dual characteristics of Internet enterprises and securities companies,relying on the traditional commission model to achieve revenue,and also relying on non-financial factors such as scientific research investment,human capital,governance capabilities,and user value to achieve value growth.(2)From the results,the value of is 257,432,860,000 which error is around 13.7%,slightly lower than the stock market value,but closer to the intrinsic value of the enterprise.It is appropriate to use EVA to evaluate Internet companies.Accounting adjustment items should vary from enterprise to enterprise,even if different enterprises in the same industry are affected by the scale,profit model,and characteristics of the enterprise,the selection of adjustment items should be different.(3)Adding non-financial factors to build an index system is helpful to observe the intrinsic growth points and growth trends of enterprise value from the perspective of relative value,and the results prove that non-financial factors are important in the value of Internet brokers,so as to build an enterprise value analysis model more suitable for the field of Internet brokers.(4)Internet securities companies need to dig deep into increasing R&D investment,cultivating talents and user monetization,and seek differentiated competition in order to seek new profit growth points. |
