The 1990s saw a rapid rise in the proportion of market value represented by internet companies. At the peak of the market, the value of US internet stocks alone exceeded $2 trillion, making these stocks nearly as valuable as the entire UK market. However, since March 2000 many internet stock values have declined precipitately. How can we make sense of these rapid swings in value and what is a sensible framework for the future? This book establishes a robust cashflow based methodology for internet valuation in relation to strategic issues, and includes compelling and topical case studies of leading players including Amazon.com and NTT DoCoMo.
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'John Briginshaw deploys his insight and erudition to remind us what we should have known from the start - that the fundamental determinants of value creation apply as much to e-business as any other kind of business.' - Martin Deboo, Director, OC&C Strategy Consultants
'A practical and wide-ranging book...' - Professor Chris Higson, London Business School
'The cases and theory should secure it an audience both in the professional and academic communities.' - David Tien, Assistant Professor of Finance, Santa Clara University
'John Briginshaw's book is the antidote to the kind of pseudo-valuation hype that clouded internet valuation on the way up, but he also recognizes the risk of excessive scepticism. Past errors could be compounded by missing opportunities now.' - Adam Hull, Equity Research, HSBC Investment Bank
'Internet Valuation represents a refreshing change from the often simplistic valuation methodologies employed by much of Wall Street duringthe internet boom years.' - Richard Smith, Equity Research, Deutsche Bank
'A practical and wide-ranging book...' - Professor Chris Higson, London Business School
'The cases and theory should secure it an audience both in the professional and academic communities.' - David Tien, Assistant Professor of Finance, Santa Clara University
'John Briginshaw's book is the antidote to the kind of pseudo-valuation hype that clouded internet valuation on the way up, but he also recognizes the risk of excessive scepticism. Past errors could be compounded by missing opportunities now.' - Adam Hull, Equity Research, HSBC Investment Bank
'Internet Valuation represents a refreshing change from the often simplistic valuation methodologies employed by much of Wall Street duringthe internet boom years.' - Richard Smith, Equity Research, Deutsche Bank