【作者】 李琳；

【导师】 曾世宏； 刘群英；

【作者基本信息】 湖南科技大学 ， 会计硕士（专业学位）， 2018， 硕士

【摘要】 随着“互联网+”的提出,政府积极鼓励传统企业与互联网技术结合,转变生产和销售模式,促进产业升级,互联网行业蓬勃发展,准确评估互联网企业价值就十分必要。本文以生意宝作为研究案例,理论分析和案例研究相结合,对生意宝公司在评估基准日2017年12月31日的企业价值进行了评估研究,深入探讨EVA在企业价值评估中的应用。在阐述基础理论的基础上,巩固对EVA理论方面的理解和掌握;以生意宝作为分析案例,进一步了解EVA具体应用方面的认识。本文在具体分析企业价值评估的基础上,从而概括总结得出企业价值评估的目的和意义。此外,还概括梳理了国内外企业价值评估相关基础理论、经济增加值的理论基础以及基于经济增加值的企业价值评估的有关研究。主要介绍了几种传统企业价值评估方法和它们的适用范围,EVA的基本理论、计算过程、主要调整项目和三种不同的EVA估值模型和EVA模型应用于企业价值评估的适用性与不足。基于理论研究,本文选取了生意宝作为案例研究对象。首先介绍了生意宝的基本情况。其次,在对生意宝的内外部环境进行分析的基础上运用EVA价值评估模型评估其企业价值,得出生意宝的每股股价为34元,与其当日收盘价进行比较,分析差异产生的原因。此外,在对EVA理论、EVA估值模型的应用进行总结的基础上就生意宝的价值提升从企业战略管理、价值管理以及资本成本的控制方面向管理层提出三点建议。最后,对全文研究进行总结与展望。更多还原

【Abstract】 With the development of Internet technology,people’s consumption and living behaviors have undergone great changes.The government proposes the concept of "Internet+" to encourage traditional enterprises to transform their production and sales mode and promote industrial upgrading by combining with Internet technology.With the rapid development of Internet industry,it is necessary to accurately evaluate the value of Internet enterprises.This paper takes business treasure as a case study and uses the combination of theoretical analysis and case study to conduct an evaluation study on the enterprise value of business treasure company on December 31,2017,the base date of evaluation,and further discusses the application of EVA in enterprise value assessment.On the basis of expounding the basic theory,consolidate the understanding and mastering of EVA theory.Take business treasure as the case study to further understand the specific application of EVA.Based on the specific analysis of enterprise value assessment,this paper summarizes the purpose and significance of enterprise value assessment.In addition,it also summarizes the basic theories related to enterprise value assessment at home and abroad,the theoretical basis of economic added value and the related research on enterprise value assessment based on economic added value.This paper mainly introduces several traditional enterprise value assessment methods and their applicable scope,EVA basic theory,calculation process,major adjustment project and three different EVA valuation models and EVA models applied to enterprise value assessment.Based on the theoretical research,this paper selects business treasure as the case study object.First introduced the basic situation of business treasure.Secondly,based on the analysis of the internal and external environment of Shengyibao,the EVA value evaluation model was used to evaluate its enterprise value,and it was concluded that the share price of Shengyibao was 34 yuan per share,which was compared with the closing price of the day,to analyze the reasons for the difference.In addition,on the basis of summarizing the application of EVA theory and EVA valuation model,three Suggestions are put forward to the management on improving the value of business treasure from strategic management,value management and capital cost control.Finally,summarize and prospect the whole paper.更多还原