Valuations of early-stage companies and disruptive technologies : how to value life science, cybersecurity and ICT start-ups, and their technologies /
This book will serve as a practical guide for entrepreneurs and investors/advisors in constructing and understanding valuations of startups in rapidly shifting industries, including the areas of drug development, medical devices, cyber security, and renewable energy. For large companies, valuation i...
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| Format: | E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Basingstoke :
Palgrave Macmillan,
[2020]
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| ISBN: | 3030388476, 9783030388478 |
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| 020 | |a 9783030388478 | ||
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| 041 | |a eng | ||
| 072 | 7 | |a 62 |2 CVT | |
| 080 | |a 62 |2 2011 | ||
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| 100 | 1 | |a Rothman, Tiran, |e author. | |
| 245 | 1 | 0 | |a Valuations of early-stage companies and disruptive technologies : |b how to value life science, cybersecurity and ICT start-ups, and their technologies / |c Tiran Rothman. |
| 260 | 1 | |a Basingstoke : |b Palgrave Macmillan, |c [2020] | |
| 300 | |a 1 online resource : |b illustrations (some color) | ||
| 500 | |a Includes index. | ||
| 505 | 8 | |a Intro -- Acknowledgments -- Contents -- List of Figures -- List of Tables -- Part I: A Short Overview of Valuations -- 1: Introduction -- 2: Understanding Financial Valuations: Foundations and Basic Traditional Techniques -- 2.1 Background -- 2.2 It's All About Trust -- 2.3 What Is a Valuation? -- 2.4 The Advantages and Disadvantages of Corporate Valuations -- 2.5 What Does a Corporate Valuation Reflect? -- 2.6 Different Valuation Methods -- 2.7 What Are Capitalization Rates? Why Are They Important? -- 2.7.1 Explaining the Formula Elements | |
| 505 | 8 | |a 2.8 Valuations in New Technology Industries -- 2.9 Conclusion -- Part II: Overcoming Valuation Hurdles: How to Conduct Valuations Under Unique Circumstances -- 3: Understanding the Basic Elements of Stockholder Statements and Their Use in Valuations -- 3.1 Background -- 3.2 The Balance Sheet -- 3.2.1 The Balance Sheet Identity -- 3.2.1.1 Assets -- 3.2.2 Liabilities -- 3.2.2.1 Stockholder Equity -- 3.2.3 Book Value Versus Market Value -- 3.2.4 Enterprise Value -- 3.3 The Profit and Loss (PL) Report or Income Statement -- 3.3.1 Earnings Calculations -- 3.3.2 The Statement of Cash Flows | |
| 505 | 8 | |a 3.3.3 Non-operating Assets -- 3.3.3.1 Investment Operations -- 3.3.3.2 Financing Operations -- 3.3.4 Notes to the Financial Statements -- 3.3.5 Financial Statement Analysis -- 4: Valuation Methods: The First Chicago Venture Method and the Use of Real Options -- 4.1 The Use of Multiples with the First Chicago Venture Method -- 4.2 Finding Similar Companies -- 4.3 Valuation Through the Use of Real Options: What Is It and When Is It Used? -- Part III: Behavioral Factors: How Psychology Affects Bias in Valuations -- 5: Introduction to Behavioral Finance -- 5.1 Background | |
| 505 | 8 | |a 5.2 Investors' Behavior in the Financial Markets -- 5.2.1 The Hot Hand Fallacy -- 5.2.2 The Efficient Market Hypothesis -- 5.2.3 The Psychology of Tail Events -- 5.2.4 The Availability Heuristic: Why Does an Event Happen? -- 5.2.5 Mental Accounting -- 5.2.6 Stock Market Underreaction and Overreaction -- 5.2.7 Investors' Attention and Trade Shares -- 5.2.8 Anchoring -- 5.2.9 Hindsight Bias -- 5.2.10 Endowment Effects -- 5.3 Do Experts Exhibit Biases? -- 6: An Overview of Investor Behavior in Financial Markets and Psychological Influences on Valuations -- 6.1 Background | |
| 505 | 8 | |a 6.2 Optimism and Expectations in the Financial Aspect -- 6.3 Attention and Its Effect on Valuations -- 6.3.1 Psychology Framework: Attention Theory -- 6.3.2 Selective Attention and Information Processing -- 6.3.3 Attention Theory Mechanisms -- 6.3.4 The Role of Attention in Capital Markets -- 6.3.5 Attention Hypothesis -- 6.4 The Myopic Aspect of Skewness Investment -- References -- 7: How to Overcome Investor Behavior and Psychological Influences in Valuations: How to Evaluate a Dream? -- 7.1 Background -- 7.2 Valuation of Companies -- 7.3 The r in rNPV -- 7.4 Valuation of Technology | |
| 520 | |a This book will serve as a practical guide for entrepreneurs and investors/advisors in constructing and understanding valuations of startups in rapidly shifting industries, including the areas of drug development, medical devices, cyber security, and renewable energy. For large companies, valuation is based on forecasts of free cash flow; in technologically-driven industries, product pipelines can represent a large part of market capitalization. The situation is even more critical for small companies committed to a single idea: all of their value is linked to a single project. Any business transaction or internal proposal to begin or terminate an R&D project in which innovative projects are being valued or exchanged requires a realistic valuation of those projects. Moreover, different projects have very different dynamics. Pharmaceuticals have very large lead times and are dependent on patents as well as out-licensing agreements. In contrast, software develops very quickly, and IP is hard to value. This book will be a guide to building appropriate valuations for companies competing in rapidly shifting industries and offering products under new business models where little precedent exists, taking both financial and behavioral issues into consideration. | ||
| 650 | 0 | |a New business enterprises |x Valuation. | |
| 650 | 0 | |a New business enterprises |x Finance. | |
| 650 | 0 | |a Investments. | |
| 650 | 0 | |a High technology industries |x Valuation. | |
| 650 | 0 | |a High technology industries |x Finance. | |
| 650 | 7 | |a High technology industries |x Finance. |2 fast | |
| 650 | 7 | |a High technology industries |x Valuation. |2 fast | |
| 650 | 7 | |a Investments. |2 fast | |
| 650 | 7 | |a New business enterprises |x Finance. |2 fast | |
| 653 | |a investície | ||
| 653 | |a nové podniky | ||
| 653 | |a technické odvetvia | ||
| 655 | 4 | |a Electronic books. |9 49669 | |
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