互联网企业商业模式价值评估研究

发布时间：2018-04-24 10:04

本文选题：互联网企业 + 新经济　；参考：《西南财经大学》2009年硕士论文

【摘要】： 二十世纪九十年代以来,互联网企业上市、并购、融资等经济行为不断出现,因此对互联网企业的价值进行客观、公正的评估成为人们关注的焦点。但是,由于网络企业作为新兴的企业群体,有着不同于传统企业的诸多特点,传统的企业价值评估方法直接应用到互联网企业价值评估中,存在很多不适用性。互联网企业运作方式的复杂、多样和多变使得“商业模式”这个术语所蕴涵的概念有其产生和存在的必要性,并且表现出强大的生命力。因此,我们应该站在商业模式的角度上对互联网公司的价值进行关注和探索。正是基于上述背景,本文试图站在商业模式的角度上对现有互联网企业的价值评估理论与方法进行深入的探讨和研究。首先对新经济下的互联网商业模式进行总体概述,确立互联网企业的定义,即明确了本文的研究对象。随后分析了互联网企业商业模式自身的特点,包括:网络效应、规模经济与报酬递增、消费者预期经济和产品粘性带来的消费者锁定,而在这一系列特点背后的本质是互联网企业商业模式的收益递增性,故本文运用经典经济学理论——成本收益理论解释了互联网商业模式的收益递增性。随后回顾了国内外学者对商业模式及其价值评估的文献研究,为后文提供理论支撑。其次,按照一定的分维要求,架构起互联网企业商业模式价值评估体系的结构性维度。结构性维度决定了商业模式的取向或指向,是商业模式的内生性变量,反映了商业模式的内在特征。本文将商业模式分为八个维度,分别是:价值主张、核心战略、资源配置、组织设计、价值网络、产品与服务设计、经营收入机制、盈利潜力。八个维度相互作用,构成了商业模式的基本分析框架,并通过对结构性维度的深刻剖析找到互联网企业商业模式的价值所在,为建立价值评估体系提供方向和范围。随后,结合总结的结构性维度,建立起互联网商业模式价值评估的指标体系,并利用系统工程分析法下的模糊综合评判法对互联网商业模式价值进行评估。选取八个维度作为衡量商业模式价值的基本指标,它们和相对应的二级指标共同构成评判问题的因素集,并对每一指标指定权重值。然后,对指标的评判采用定量与定性相结合的方法,定量方法采用数据比较法,定性方法采用专家评判法,按照优,良,中,差,劣五个等级对指标做出评价,之后根据最大隶属度原则,得出评判对象的评判结果。最后,本文选取了阿里巴巴B2B业务公司进行实证研究,利用该公司招股说明书中的相关数据,并结合专家组的意见,运用模糊综合评判法对该企业商业模式价值进行综合评价,最终得出该公司商业模式价值评价结果为优秀。本文的创新之处在于从新的视角,即商业模式的角度重新审视互联网企业的价值,认为互联网企业资产的真正价值应该蕴涵在它特有的商业模式运作里,跳出了传统运用单一理论模型的固定思维。同时运用了新的评价工具,如指标体系和模糊综合评价模型,使模糊现象适度精确化、定性分析定量化,适当的解决了商业模式价值评估问题中一些抽象问题和定性指标的评估,丰富了互联网企业商业模式价值评估的分析工具。
[Abstract]:Since the 1990s, the economic behavior of the Internet companies, mergers and acquisitions, financing and other economic behaviors are constantly emerging. Therefore, the value of the Internet enterprises is objective and fair assessment has become the focus of attention. However, as the network enterprise as a new enterprise group, there are many characteristics different from the traditional enterprise, the traditional enterprise price. The value evaluation method is directly applied to the evaluation of Internet enterprise value, and there is a lot of inapplicability. The complexity, diversity and variability of the operation mode of the Internet enterprise make the concept of "business model" implicated in the necessity of its emergence and existence, and shows great vitality. Therefore, we should stand in the business model. From the point of view, we pay attention to and explore the value of Internet Co.
Based on the above background, this paper tries to make an in-depth discussion and Research on the value evaluation theory and method of the existing Internet enterprises from the perspective of business model. First, a general overview of the Internet business model under the new economy is made, and the definition of the Internet enterprise is established, that is, the object of this study is clarified. The characteristics of the business model of the networked enterprise include: the network effect, the scale economy and the increasing reward, the consumer anticipation of the consumer anticipation of the economy and the product stickiness, and the essence behind this series of characteristics is the increase in the income of the business model of the Internet enterprise, so this article uses the theory of classic economics -- the theory of cost and benefit. It explains the increasing returns of the Internet business model, and then reviews the literature research on business model and its value assessment by domestic and foreign scholars, and provides theoretical support for the latter.
Secondly, the structure dimension of the business model value evaluation system of the Internet enterprise is constructed in accordance with certain fractal requirements. The structural dimension determines the orientation or direction of the business model. It is the endogenous variable of the business model and reflects the inherent characteristics of the business model. This paper divides the business model into eight dimensions, namely, value proposition, Core strategy, resource allocation, organization design, value network, product and service design, operating income mechanism, profit potential. The eight dimensions interact to form the basic analysis framework of the business model, and find the value of the business model of the Internet enterprise through a profound analysis of the structural dimensions, and provide the value evaluation system for the establishment of the value evaluation system. Direction and scope.
Then, based on the structural dimensions of the summary, the index system of the value evaluation of the Internet business model is established, and the value of the Internet business model is evaluated by the fuzzy comprehensive evaluation method under the system engineering analysis method. Eight dimensions are selected as the basic index to measure the value of the business model, and they are together with the corresponding two level indicators. Then, the evaluation of each index is given the weight value of each index. Then, the evaluation of the index is combined with the quantitative and qualitative methods. The quantitative method adopts the method of data comparison. The qualitative method adopts the expert evaluation method. The index is evaluated according to the five grades of excellent, good, medium, poor and inferior. Then, according to the principle of maximum degree of membership, the result is obtained. Judge the result of the judge.
Finally, this article selects the Alibaba B2B business company to carry on the empirical study, uses the relevant data in the prospectus of the company, and combines the opinion of the expert group, and uses the fuzzy comprehensive evaluation method to evaluate the business model value of the enterprise synthetically, and finally draws the conclusion that the value evaluation result of the company's business model is excellent.
The innovation of this paper is to reexamine the value of Internet enterprises from the perspective of a new perspective, that is, business model, and think that the real value of the assets of the Internet enterprise should be contained in its unique business model operation, jumping out of the traditional thinking of using a single theoretical model and using new evaluation tools, such as the index system. The fuzzy comprehensive evaluation model makes the fuzzy phenomenon accurate and accurate, the qualitative analysis is quantified, and the evaluation of some abstract and qualitative indexes in the business model value evaluation is properly solved, which enriches the analysis tools of the value evaluation of the business model of the Internet enterprises.

【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2009
【分类号】：F272;F49

【引证文献】