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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Comparing Common Valuation Methods on Internet Firms before the Dot-Com Crash and Today |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 94 |
| Date | 2016 |
| Abstract Text | This study investigates how different types of valuation methods perform on Internet firms before the bursting of the dot-com bubble in 2000 and how do they perform today, when the firms have moved into a more mature business stage. With a comparative case study methodology eleven Internet firms listed on the Nasdaq stock exchange are valued using different valuation methods, belonging to three main approaches: multiple valuation, discounted cash flow valuation, venture capitalist valuation. The results of this study support the hypothesis that the valuation of Internet firms would become more homogenous as they moved into a more mature business stage. The results also show that the discounted cash flow valuation performed surprisingly well in the year 2000 when the market was said to be overvaluing the Internet firms. Because of that, the results in this study do not support the hypothesis that the market driven valuations would perform better in the year 2000. |
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