新经济环境下互联网股票价值评估问题

Valuation Problems of Internet Stocks in New Economy

在本文中 ,我们通过分析市盈率的构成因素以及互联网经济价值源泉与竞争规则 ,概括出互联网企业的一般增长模型。由于互联网产业还处于发展初期 ,其高成长性可以部分解释其如此高的市盈率。分析高科技股票 ,特别是互联网股票 ,应特别强调其高成长性。

In this paper, after having discussed the composing elements of P/E ratios and the value mines and competition rules of Internet Economy, we drew the general development pattern of Internet corporations. Because of their initial stage's development, Internet Industry's nature of high development can explain their so high P/E ratios. When analyzing High-Teck stocks, especially Internet Stocks, we should pay lots of attention to their nature of high development.