摘要
摘要
随着软件和信息技术服务业在经济社会中的不断发展，软件将是影响未来智
能变革的决定性力量。软件业在国内的信息化市场越来越广阔，但软件企业价值
评估体系不够健全。而软件和信息服务业属于高科技行业，其资本结构有着独特
之处，无形资产占总资产的比例比较高，人力资源是其不可或缺的竞争性资源，
其商业模式及价值创造都有着巨大的创新空间。对软件企业进行价值评估时必须
考虑以上各种特殊因素。本文基于 EVA对 Y软件企业价值评估进行研究，试图
探索适合我国软件企业的价值评估方法。
本文首先采用文献研究法对相关概念与理论基础进行综述，介绍了 Y软件
企业概况并对其偿债能力、营运能力、盈利能力等经营现状进行分析；采用比较
分析法对成本法、市场法、收益法等传统价值评估方法进行比较并分析其局限性，
从而确定 EVA在 Y软件企业应用的必要性；接下来采用案例研究法，根据 Y软
件企业近五年的财务报告，自同花顺软件、中国人民银行、国家统计局等网站收
集相关数据并进行整理、分析，针对 Y软件企业自身特点选择特定的会计调整
项目，进而基于 EVA价值评估模型对 Y软件企业进行价值评估。研究表明，基
于 EVA的 Y软件企业评估价值预示了其市场价值的变动趋势，基本反映了其内
在价值。通过对 Y软件企业价值进行敏感性分析，进一步从提升企业内在价值
与提高价值评估水平两方面对其提出建议。本文扩大了 EVA在我国价值评估领
域的应用范围，同时为 EVA在我国的应用提供了一定的借鉴作用。
关键词：EVA；经济增加值；企业价值；价值评估；软件企业
论文类型：应用类
选题来源：自选课题
I

ABSTRACT
ABSTRACT
With the continuous development of software and information technology service
industries in the economy and society, software will become an important force leading
the direction of future intelligent changes. The domestic informatization market of
software and information technology service industry is becoming wider and wider, but
the software enterprise value evaluation system is not yet sound. The software and
information service industry is a high-tech industry, and its capital structure is unique.
Intangible assets account for a relatively high proportion of total assets. Human
resources are an indispensable competitive resource. There is huge room for innovation
in its business model and value creation. The above special factors must be considered
when evaluating the value of software companies. Based on EVA, this paper conducts
research on the value evaluation of Y software enterprise, trying to explore a value
evaluation method suitable for software companies in our country.
This article firstly uses the literature research method to summarize related
concepts and theoretical foundations, introduces the overview of the Y software
enterprise and analyzes its solvency, operating capacity and profitability operating status;
then use comparative analysis method to compare traditional value evaluation methods
such as cost method, market method and income method and analyze their limitations,
so as to determine the necessity of EVA value evaluation model in Y software enterprise;
Next, using the case study method, according to Y software enterprise’s financial reports
for the past five years, collect relevant data from Hithink RoyalFlush Information
Network, the People’s Bank of China, the National Bureau of Statistics and other
websites, organize and analyze them, and select specific accounting for Y software
enterprise’s own characteristics. Adjust the project, and then evaluate the value of Y
software enterprise based on the EVA value evaluation model. The research shows that
the appraised value of Y software enterprise based on EVA indicates the changing trend
of its market value and basically reflects its intrinsic value. Through the sensitivity
analysis of the Y software enterprise value, further suggestions are made for it from two
aspects: improving the intrinsic value of the enterprise and improving the level of value
evaluation. This article expands the application scope of EVA in the field of value
evaluation in our country, and at the same time provides a certain reference for the
III

ABSTRACT
application of EVA in our country.
KEY WORDS: EVA; Economic Value Added; enterprise value; value assessment;
Software enterprise
Dissertation Type: Application research
Subject Source: Optional project
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