基于超额收益不确定的物流企业数据资产价值评估——以顺丰控股为例

A Study on the Value Evaluation of Data Assets of Logistic Companies Based on the Uncertainty of Excess Return:A Case Study of Shunfeng Holdings

基于数据资产对物流企业的超额收益不确定性特征,本文通过运用二叉树模型方法对超额收益不确定性进行描述分析并对数据资产估值的传统超额收益法进行改进,从而给出基于超额收益不确定的物流企业数据资产估值模型。将此应用于顺丰数据资产估值案例,以检验模型有效性。结果表明,基于超额收益不确定的所构建模型估值不仅接近实际值,而且对不确定性大小的变化表现较高的稳健性。

Based on the uncertainty characteristics of excess return of data assets to logistics enterprises,this paper improves the traditional excess return method of data asset valuation by using the binary tree model method to describe and analyze the uncertainty of excess return,so as to give the data asset valuation model of logistics enterprises based on the uncertainty of excess return,which is applied to the case of Shunfeng data asset valuation to test the effectiveness of the model.The results show that the valuation of the model based on the uncertainty of excess return is not only close to the actual value,but also has high robustness to the change of uncertainty.