| Titre : | Valuing internet companies : a DEA-based Multiple Valuation Approach (2011) |
| Auteurs : | C-TB. Ho, Auteur ; C-K. Liao, Auteur ; H-T. Kim, Auteur |
| Type de document : | Article : texte imprimé |
| Dans : | Journal of the operational research society (JORS) (Vol. 62 N° 12, Décembre 2011) |
| Article en page(s) : | pp. 2097–2106 |
| Note générale : | Recherche opérationnelle |
| Langues : | Anglais |
| Index. décimale : | 001.424 |
| Tags : | Data envelopment analysis (DEA) Multiple valuation approach Internet company Investment |
| Résumé : | The Internet industry has created a great deal of marvels over the past decade. Assessing Internet companies’ values provides an alternative tool to help make better investment decisions. This paper presents a hybrid of both DEA and multiple valuation methods to valuate Internet companies. Four tailored valuation methods were proposed and a sample of 52 firms was tested based on Price-to-Gross Margin ratio. With the focus on the estimation direction (overvalued/undervalued), verified with the real prices, an accuracy rate of approximately 70% on average has been obtained from these four methods. The proposed methods allow investors to have a more accurate estimation of the subject company's current and future stock prices. This implies that the research results could help investors when they are making long-term or short-term investments. |
| DEWEY : | 001.424 |
| ISSN : | 0160-5682 |
| En ligne : | http://www.palgrave-journals.com/jors/journal/v62/n12/abs/jors2010191a.html |
