淺析風(fēng)險(xiǎn)投資對(duì)互聯(lián)網(wǎng)企業(yè)的評(píng)估體系.pdf

1、復(fù)旦大學(xué)碩士學(xué)位論文淺析風(fēng)險(xiǎn)投資對(duì)互聯(lián)網(wǎng)企業(yè)的評(píng)估體系姓名：方芳申請(qǐng)學(xué)位級(jí)別：碩士專業(yè)：財(cái)務(wù)指導(dǎo)教師：陳穎杰2000.5.1AbstractTheInteracthasbeentheIeaderofthethirdindustrialrevolutionoftheworld’seconomyIthasinfluencedeverypartofourJivesAsaflexibleinvestmentmechanism，ventureca

2、pitalisplayinganimportantroleinthedevelopmentofIntemetindustrySo，thedevelopmentofneweconomydependslargelyonthecombinationofknowledge(representedbytheIntemetbusinesses)andthecapital(representedbyventurecapital)Howeverthem

3、ostessentialproblemforventurecapitalofthiscombinationishowtoselectthetargetIntemetbusiness，asfaraswhosevaluationsystemisconcernedUnfortunatelytheanswertothisquestionisveryconfusedatthisstageFewcapitalistscangiveacomplete

4、answer；neitherdotheresearchersinthisfieldPeopleareeagerlylookingforwardtotheemergenceofascientificvaluationmethod，whichcanguideresources’reasonableallocationandthepracticaloperationofventurecapitalThisarticleistheattempt

5、accordingtotheproblemsmentionedaboveDespitethelackofrelativematerial，theauthorworkedhardtocombineherownexperiencesofprojectsintheventurecapitalwithhercomprehensivecommunicationwithventurecapitalistsandentrepreneuLThrouIg

6、hhersummarizingandrefiningofthepracticalvaluationmethod，theauthorbroughttheresearchinthisfieldtoasystematicallyandtheoreticallyleverprovidingavaluationsystemwithqualitativeanalysisandquantitativeanalysisThecontributionof

7、thissystemisnotonlybeingthehandbookinthepracticaloperation，butalsoprovidingtheusefulmethodandconclusionfortheresearchfollow—throughIntheauthor’sopinion，themostimportantfactorsventurecapitalistsconceminthequalitativevalua

8、tionarebusinessmodel，marketsize，managementteamoftheventureenterpriseThearticleanalysestheassessingstandardofeachfactorandmentionsthatthevaluationofdifferentIntemetbusinessshouldfollowdifferentmodelInquantitativevaluation

9、，theauthorpresentstwowidelyusedevaluatingmethods：MultipleComparisonandDCEArevisedmethodofDCFDiscountedMarketValue，whichisdevelopedbytheauthor_一isespeciallyemphasizedThewholeprocessoftheusageofthismethodis：searchingforthe

10、similarenterprise，buildingthemodel，calculatinganticipatedmarketvalue，andevaluatingtheventureenterprisebyventurecapitalistsTheanalysisofthecaseofexampleinthearticlegivesfurtherillustrationoftheapplyingprocessofthisvaluati