| Autor: |
Graham, Carol M., Cannice, Mark V., Sayre, Todd L. |
| Předmět: |
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| Zdroj: |
Thunderbird International Business Review; Jan/Feb2002, Vol. 44 Issue 1, p47-70, 24p |
| Abstrakt: |
The article focuses on the valuation of Internet companies. This sector of the market has proved challenging from a valuation perspective as it represents a new industry about which the determinants of valuation are unclear. According to the author it is difficult to value a company based on its fundamentals when its financial history is scant and where there are few similar companies in the same industry. Here the author examines the factors that potentially influence the valuation of Internet companies. Both the financial and non-financial metrics are included in the valuation. There are many factors that have been suggested as value-drivers of Internet companies' stocks. Based on reports in the financial press, traditional financial measures such as earnings and book value have generally been regarded as being relatively uninformative for the purposes of valuing Internet companies. The results indicate that for the sample as a whole, there is no significant relationship between market value and net income, and a significant, positive relationship between market value and book value, when the market value of equity is regressed on book value and net income. |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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