本文選題：互聯(lián)網(wǎng) + 企業(yè)價值��； 參考：《河北大學》2017年碩士論文

【摘要】：互聯(lián)網(wǎng)企業(yè)是一種典型的輕資產(chǎn)型企業(yè),無論是企業(yè)的經(jīng)營模式還是盈利模式,都使互聯(lián)網(wǎng)企業(yè)與傳統(tǒng)企業(yè)具有很大差別�；ヂ�(lián)網(wǎng)具有用戶至上、顛覆式創(chuàng)新、低成本、高效率、高風險性等特點。這些特點使互聯(lián)網(wǎng)企業(yè)價值不僅受盈利能力、償債能力、營運能力等財務(wù)因素的影響,其價值很大一部分還受市場競爭力、人才競爭力、技術(shù)創(chuàng)新競爭力和企業(yè)管理水平等非財務(wù)因素的影響。因此,無論是互聯(lián)網(wǎng)企業(yè)并購、重組、融資,還是互聯(lián)網(wǎng)企業(yè)IPO,我們對互聯(lián)網(wǎng)企業(yè)價值進行評估時都要綜合考慮財務(wù)因素與非財務(wù)因素。目前現(xiàn)有的企業(yè)價值評估方法基本都只考慮了財務(wù)因素,面對越來越繁榮的互聯(lián)網(wǎng)企業(yè),發(fā)展出一套切實可行、精確有效的互聯(lián)網(wǎng)企業(yè)價值評估方法十分迫切。本文意在綜合考慮互聯(lián)網(wǎng)企業(yè)價值驅(qū)動因素的基礎(chǔ)上,重新構(gòu)建互聯(lián)網(wǎng)企業(yè)價值評估指標體系,將非財務(wù)評估指標納入評估指標體系中,對收益法進行修正,從而為互聯(lián)網(wǎng)企業(yè)價值評估提供新的研宄思路。本論文首先通過對互聯(lián)網(wǎng)企業(yè)特點的梳理,對互聯(lián)網(wǎng)企業(yè)價值進行了重新定義;然后基于價值管理理論對互聯(lián)網(wǎng)企業(yè)價值驅(qū)動因素進行總結(jié),在此基礎(chǔ)上重新構(gòu)建了互聯(lián)網(wǎng)企業(yè)價值評估指標體系,該體系的特點是將非財務(wù)指標納入互聯(lián)網(wǎng)企業(yè)價值評估指標中;接著對互聯(lián)網(wǎng)企業(yè)價值評估的模型的修正、應(yīng)用步驟、相關(guān)參數(shù)的確定進行詳細地分析。本文主要懫用層次分析法、專家打分法對互聯(lián)網(wǎng)企業(yè)價值評估方法進行修正。提出新的評估方法在互聯(lián)網(wǎng)企業(yè)價值評估中需要注意的事項。本文在最后將修正后的評估方法應(yīng)用到具體的案例中,對靈娛網(wǎng)絡(luò)的企業(yè)價值進行評估,通過案例析,總結(jié)出該新的評估方法在互聯(lián)網(wǎng)企業(yè)價值評估中的適用性。從而為互聯(lián)網(wǎng)企業(yè)上市發(fā)行定價、互聯(lián)網(wǎng)企業(yè)并購定價提供評估依據(jù)。
[Abstract]:Internet enterprise is a typical enterprise with light assets. Whether it is a business model or a profit model, it makes the Internet enterprise and the traditional enterprise have a very big difference. Internet has the characteristics of user first, subversive innovation, low cost, high efficiency, high risk and so on. These characteristics make the value of Internet enterprises not only affected by financial factors, such as profitability, solvency, operating capacity, etc., but also a large part of their value is also affected by market competitiveness and talent competitiveness. The influence of non-financial factors such as technological innovation competitiveness and enterprise management level. Therefore, whether it is mergers and acquisitions, reorganization, financing or IPO, we should consider both financial and non-financial factors when evaluating the value of Internet enterprises. At present, the existing methods of enterprise value evaluation only consider the financial factors, and it is very urgent to develop a set of feasible, accurate and effective valuation methods for Internet enterprises in the face of more and more prosperous Internet enterprises. On the basis of synthetically considering the driving factors of Internet enterprise value, this paper reconstructs the index system of Internet enterprise value evaluation, brings the non-financial evaluation index into the evaluation index system, and modifies the income method. So as to provide a new research ideas for the value evaluation of Internet enterprises. This paper firstly redefines the value of Internet enterprises by combing the characteristics of Internet enterprises, and then summarizes the driving factors of value of Internet enterprises based on the theory of value management. On this basis, this paper reconstructs the value evaluation index system of Internet enterprise, which is characterized by the incorporation of non-financial index into the value evaluation index of Internet enterprise, and then the revision and application of the model of value evaluation of Internet enterprise. The determination of relevant parameters is analyzed in detail. This article mainly uses the analytic hierarchy process, the expert scoring method carries on the revision to the Internet enterprise value appraisal method. Put forward the new evaluation method in the Internet enterprise value evaluation matters needing attention. In the end, this paper applies the revised evaluation method to the concrete cases, and evaluates the enterprise value of the spiritual entertainment network. Through the case analysis, the applicability of the new evaluation method in the Internet enterprise value evaluation is summarized. Thus, it provides the evaluation basis for the pricing of Internet enterprises' listing and issuance and the pricing of Internet enterprises' mergers and acquisitions.
【學位授予單位】：河北大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F275;F49

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本文編號：2029067