IT企业价值评估方法应用研究.doc

 摘 要 在全球范围内 IT 业的飞速发展、产业转移、结构调整和战略转型步伐明显加快 的大背景下，IT 业的投资、职工期权计划、IPO、合并、收购、破产、重组、清算 等活动频繁。企业价值和企业价值评估是这些活动决策合理性的基础，而企业价值 评估方法又是企业价值评估的核心问题，直接关系到企业价值评估的结果和交易的 实现。同时，由于 IT 行业的技术障碍，业务模式和运营方式创新，技术更新等因素， 评估人员和投资者往往对 IT 企业存在一些概念和认识上的误区；在实践中，对企业 价值评估方法的具体应用存在诸多问题。因此研究 IT 企业价值评估方法的具体应用 具有重要意义。 本文首先阐述论文选题背景和研究意义，论文的研究思路和技术路线。其次， 阐述了企业价值评估理论的一些基础概念，阐述了 IT、IT 企业的定义，分析了 IT 企业的分类， IT 企业与高新技术企业的认识误区、IT 企业价值评估的特点。接着， 对 IT 企业价值评估方法进行了理论分析。分析了收益途径、资产基础途径、市场途 径的评估思路、原理、要点、核心问题、条件、程序等。然后，对 IT 企业价值评估 方法的具体应用进行了分析，包括硬件产品生产类型、软件开发类型、代理营销类 型、基础设施运营类型、技术工程服务类型、互联网应用服务类型及高新技术类型 IT 企业。最后，结合工作实践对一个具体案例进行了分析，并对全文进行了总结， 得出了研究的结论。 关键词：IT 企业，价值评估，方法 I ABSTRACT On the background of the rapid-development, intra-industry-transfer, structure- adjustment and strategy-migration of global IT Industry, economic activities such as investment, ESOP, IPO, merge, acquisition, bankruptcy, reorganization, liquidation happen more and more frequently in IT industry. Business value and valuation are the basis of decision making of such activities. How to apply methods is the key issue of business valuation, and is directly relate to the results of valuation and transaction. Otherwise, due to the various factors such as technological barrier, business mode, operation mode, technological innovation, appraiser and investor usually make conceptive and recognitive mistakes. In practice, there are a lot of problems in application of business valuation methods. So application research on the business valuation methods of IT Enterprise has important significance. Firstly, the paper describes the topic background and research significance, the train of thought and technological line. Secondly, the paper describes basic concepts of business valuation theory and definitions of IT and IT enterprise, and analyses the classifications of IT enterprise, differences of IT enterprise and high tech enterprise, and valuation characters of IT enterprise. Thirdly, the paper theoretically analyses the business valuation methods, analy