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학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술대회자료
- 저자정보
- 저널정보
- 한국로고스경영학회 한국로고스경영학회 학술발표대회논문집 Proceedings of the 2nd International Joint Conference KALM, SSI and ISTEDOD In 2004
- 발행연도
- 2004.6
- 수록면
- 45 - 49 (5page)
이용수
초록· 키워드
오류제보하기
The valuation of venture companies is a subject of much discussion in the financial press and among financial economists.
We analyzed empirically to ROV model and DCF method respectively to value these companies based on assumptions and expectations. The most important question about KOSDAQ market in Korea is whether this market can reflect the real value of the venture companies quoted on it. The model gives a systematics way to think about the drivers of value of venture business, however, and directs attention to the parameters that are most important in the valuation
We concluded that, depending on the parameters chosen and given high enough growth rate of cash flow the value KOSDAQ listed venture stock may be rational. Empirically results of this research also confirm the conjecture that the ROV model outweighs the DCF method for the newly born high-technology intensive venture business.
Unlike the previous study of Rational Pricing of Internet Companies by Schwartz and Moon who only analyzed one Dot- Com company(Amazon.com), this study estimated and analyzed the valuation of venture business with comparative characteristics using various parameters of random sampling 99venture companies.
As the results of the empirical analysis, ROV model employed in this study is more reliable than the DCF model regarding the pricing of venture companies.
We analyzed empirically to ROV model and DCF method respectively to value these companies based on assumptions and expectations. The most important question about KOSDAQ market in Korea is whether this market can reflect the real value of the venture companies quoted on it. The model gives a systematics way to think about the drivers of value of venture business, however, and directs attention to the parameters that are most important in the valuation
We concluded that, depending on the parameters chosen and given high enough growth rate of cash flow the value KOSDAQ listed venture stock may be rational. Empirically results of this research also confirm the conjecture that the ROV model outweighs the DCF method for the newly born high-technology intensive venture business.
Unlike the previous study of Rational Pricing of Internet Companies by Schwartz and Moon who only analyzed one Dot- Com company(Amazon.com), this study estimated and analyzed the valuation of venture business with comparative characteristics using various parameters of random sampling 99venture companies.
As the results of the empirical analysis, ROV model employed in this study is more reliable than the DCF model regarding the pricing of venture companies.
목차
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