| In recent years,the network broadcast industry has gradually become the largest commercial tuyere,especially in the outbreak of the powerful impact of the market economy,electricity live based on its unique advantages presents a blowout growth trend,attracted a lot of capital into the industry,the financing,mergers and acquisitions,and formed a large market,market size reached trillions of levels.However,under the rapid development of online e-commerce live broadcasting,scholars have not conducted in-depth research on the valuation of such companies.Reasonable valuation can not only accurately evaluate the real value of the companies,but also promote the rational investment of market investment subjects,so as to prevent the risk of bubble in the market.In the network live broadcast industry,Oriental Selection has distinct characteristics,and has formed a mature business model,which is relatively typical.Therefore,this paper takes the company as a research sample to study the valuation of the company.Based on the review and combing of a large number of literature and theories,this paper analyzes the development status of network broadcast from four dimensions different from the traditional e-commerce industry,industry characteristics,industry profit model and the difficulties of evaluating such e-commerce live broadcast enterprises.Secondly,combined with the characteristics of high growth,high yield,large market share proportion,light asset,multiple uncertainty factors and so on,the influencing factors of the market valuation of the company are further studied.Finally,two models are selected to evaluate the market value of Oriental selected e-commerce live broadcasting enterprises,and the applicability of their respective models for evaluation is discussed respectively.Combined with the development status of Internet e-commerce live broadcasting,the parameters in the model are corrected,and the corresponding value evaluation model is obtained.In addition,the annual financial related data of Oriental Selection in 2022 is taken as the sample for valuation,and the evaluation results of the two value evaluation models are analyzed and compared.After comparing the results,the error of the evaluation results is analyzed and evaluated.Finally,this paper is based on the user scale,user contribution,the revised Metcalfe’s law valuation results and the eastern selection of real value difference rate,and then calculate the modified CVBC model valuation results and the eastern selection of the real value difference rate,comparing the difference model,the single from the objective data level comparison analysis affirmed the revised Metcalfe’s law model in the practical application of network live enterprise value evaluation has stronger applicability.But users are the key factor in benefiting the company,and scientific methods can also be used to quantitatively analyze the profits that users bring for the company.The CVBC model is the process of transforming user value into enterprise value.The revised model still has a certain guiding significance for the Oriental selection value evaluation.The subsequent platform-based Internet e-commerce live broadcast valuation research can also refer to this model.In a sense,the above two valuation models can help e-commerce live streaming companies to solve the problem of too difficult valuation caused by the difficulty in determining future earnings,and better reflect the development potential of live streaming companies.It can not only establish a diversified evaluation method system of Internet companies on the theoretical level,but also play a good reference role for the market valuation of similar companies. |
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