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| Tekijä: | Boer, P. |
| Otsikko: | Traps, pitfalls and snares in the valuation of technology |
| Lehti: | Research Technology Management
1998 : SEP-OCT, VOL. 41:5, p. 45-54 |
| Asiasana: | TECHNOLOGY VALUATION FINANCE |
| Kieli: | eng |
| Tiivistelmä: | In a world where financial wizards are seeking to maximize value for shareholders through corporate restructuring, mergers, acquisitions, and spin-offs, there is no escaping the question of how one values technology. The consequences of mis-valuing it, however, can be unfortunate. This article introduces the prevailing free cash flow method for valuation and the significant pitfalls that can occur in misuse of hurdle rates or miscalculating horizon value. It is equally important to recognize that much of the value of R&D is embedded in options. |
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