本研究以個案研究法，以P公司為例，探討新創事業之企業評價。
本研究選用市場法及收益法作為評價模式，並以P公司及對比公司之實際資料加以討論。
本研究彙總市場法及收益法的特性，並比較優點及限制，並提及兩者可以互相搭配使用的方式。
新創事業由於歷史資料的缺乏，對企業未來描繪的能力較為薄弱，其各項預估基礎很容易被挑戰。本研究從P公司的背景介紹，逐步延伸至各項業務的說明，以形成企業評價的基礎。包括企業形成的緣由、團隊的背景及經驗，在產業鏈所處的位置，對供應商的掌控能力，對客戶的了解，以及自身營運的實力。本研究亦採用產業界對未來市場的看法以輔助各項評價資訊。
本研究試圖以系統化的方式，條列P公司在科技、產品、實務運作、組織、及財務的特性，試圖以較為客觀的方式來描繪主觀的看法，用以調整風險係數貝他值。
本研究針對數項攸關參數進行敏感性分析，以辨認對企業評價影響力較高的參數，作為企業訂定營運方針的參考。

This research discussed the corporate valuation of P Company, a new business venture, by case study method.
This research discussed the corporate valuation by using relative valuation method and discounted cashflow valuation method. The information of P Company and its peers in the industry was used.
The strengths and limitations between the relative valuation method and discounted cashflow valuation method were discussed.
The basis of estimation on new business venture could be challenged because the new business venture is lacking historical data and is less persuasive when describing about the future. This research introduced the background of the P Company, discussed the business activities, and formed the basis of the corporate valuation. The history of company formation, the background and professional experience of the team, the position in the industry, the relationship with suppliers and customers, and the strength of the business itself were discussed.
This research tried to describe the objective observations by subjective factors by listing the technology, products, operations, organizations, and finance. The beta coefficient was adjusted by these factors.
This research performed sensitive analysis to identify the high sensitivity parameters to the corporate valuation. The results of the sensitive analysis could be the references for the business plan.

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