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Valuing internet companies / C-TB. Ho in Journal of the operational research society (JORS), Vol. 62 N° 12 (Décembre 2011) 

Public ISBD [article]  in Journal of the operational research society (JORS) > Vol. 62 N° 12 (Décembre 2011) . - pp. 2097–2106 Titre : Valuing internet companies : a DEA-based Multiple Valuation Approach Type de document : texte imprimé Auteurs : C-TB. Ho, Auteur ; C-K. Liao, Auteur ; H-T. Kim, Auteur Année de publication : 2011 Article en page(s) : pp. 2097–2106 Note générale : Recherche opérationnelle Langues : Anglais (eng) Mots-clés : Data  envelopment  analysis  (DEA)  Multiple  valuation  approach  Internet  company  Investment  analysis Index. décimale : 001.424 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 [article] Valuing internet companies : a DEA-based Multiple Valuation Approach [texte imprimé] / C-TB. Ho, Auteur ; C-K. Liao, Auteur ; H-T. Kim, Auteur . - 2011 . - pp. 2097–2106. Recherche opérationnelle Langues : Anglais (eng) in Journal of the operational research society (JORS) > Vol. 62 N° 12 (Décembre 2011) . - pp. 2097–2106 Mots-clés : Data  envelopment  analysis  (DEA)  Multiple  valuation  approach  Internet  company  Investment  analysis Index. décimale : 001.424 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