| In the context of the increasingly integrated development of the global economy and information technology,China never stops reforming at a deeper level and the overall economy is developing towards a high quality.Cloud computing related enterprises have gained many new development opportunities in the process of the influence of digital economy related policies on industrial structure adjustment.Similarly,thanks to the support of national policies,the industry’s share is growing and the momentum looks stable.The high development potential of the industry is very attractive to market investors,but also make the industry’s enterprise value assessment demand keeps increasing.In view of the related research about enterprise value,people from all walks of life always start with the classic methods such as income method,and it is appropriate to introduce these methods into the value assessment system of general enterprises.However,due to the characteristics of cloud computing enterprises in terms of technology and mode,the conclusions drawn by the traditional absolute or relative enterprise value assessment methods in actual valuation are often quite different from the reality,or the application scenarios are limited.By using the theory and thought of real option,we can fully consider the uncertainty of enterprise development and Better show the strength of the evaluation of cloud computing enterprise value,and draw a more scientific conclusion.The characteristics of cloud computing enterprises make the evaluation difficulties mainly focus on uncertainty handling.Therefore,this paper studies the value evaluation of domestic cloud computing enterprises through the Schwartz-Moon model under the real option theory,so as to provide fair value reference opinions for business and investment entities in the market.Firstly,In this paper,the existing literature on cloud computing enterprise value evaluation is sorted out.It points out the possible limitations of the classical enterprise valuation method when applied to the value assessment of such enterprises,in the concept logic and practical application.and the characteristics are carefully analyzed to get a scientific and reasonable evaluation method,namely the Schwartz-Moon model.Then,the "first strand of cloud computing" was modeled based on the Schwartz-Moon model,and make the outcome clear from the evaluation model by Monte Carlo simulation method and the persuasion of the model was judged.Through research and analysis,it can be concluded that cloud computing enterprises,as typical high-tech enterprises,have many uncertainties,and the results obtained by using the idea of real options to evaluate are more in line with the development of the domestic industry.Compared with the classical and commonly used valuation methods,the applicability of the Schwartz-Moon model has been verified,although the model has some limitations in the setting of individual parameters. |
