Towards the use of qualitative data in the valuation of new technology-based ventures
This thesis addresses valuation of new technology-based ventures. Its main contribution is a framework for new technology-based venture valuation based on use of both empirically identified success criteria and traditional financial valuation theory. The framework is based on the principle that new technology-based venture value is driven by venture success, and that one therefore can assess a ventures value through assessing its performance on criteria indicating success. To our knowledge this is the first framework for new technology-based venture valuation using this principle.
In the thesis we conduct a thorough literature review on venture success, and we identify a series of success criteria. We also assess the impact of applying traditional financial theory on the new venture market. A framework is developed based on the theoretical development and the identified criteria. A preliminary empirical investigation to verify the identified factors is also conducted, and an indication of its ability to predict success is assessed. The framework is applied in a case study, and the results are compared to reference values. Conclusions on its applicability and value are drawn.
The thesis consists of two main parts. The first part is a theoretically based article aimed for publication and the second part is a report that has a more applied context. Both the article and the report cover some of the same topics, but are aimed at different audiences of readers. Both parts can be read separately.
Place, publisher, year, edition, pages
Institutt for industriell økonomi og teknologiledelse , 2011. , 128 p.
ntnudaim:6189, MTIØT Industriell økonomi og teknologiledelse, Strategi og internasjonal forretnmingsutvikling,
IdentifiersURN: urn:nbn:no:ntnu:diva-15051Local ID: ntnudaim:6189OAI: oai:DiVA.org:ntnu-15051DiVA: diva2:473568
Moen, Øystein, Professor