| Autor: |
Guido Massimiliano Mantovani |
| Rok vydání: |
2017 |
| Předmět: |
|
| Zdroj: |
The Financial Value of Entrepreneurship ISBN: 9781137391490 |
| DOI: |
10.1057/978-1-137-36537-8_3 |
| Popis: |
Value and price are not synonymous when used for the assessment of capital. This is not mere semantic: only the adoption of a theoretical framework based on incomplete financial markets may help to solve the puzzle of the value-to-price gap in a sound manner. The value of any entrepreneurial investment can be considered as a bundle of two components: the emerged value (W1) and the hidden one (W2). While incomplete financial markets focus mainly on W1 for price discovery, entrepreneurial finance deals are based on the W2 emersion. By reading this chapter you may learn how to detect the hidden competence value (W2) through T-ratio. The original methodology to compute the t-ratio is explained and compared with the well-known techniques for Q-ratio assessment. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
|
