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Internet Valuation : Finance and Capital Market - John A. J. Briginshaw

Internet Valuation

Finance and Capital Market

Hardcover Published: 22nd May 2002
ISBN: 9780333949603
Number Of Pages: 454

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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. 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.

Industry Reviews

'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 during the internet boom years.' - Richard Smith, Equity Research, Deutsche Bank

List of Figures
List of Tables
List of Abbreviations
The Basicsp. 1
Basic Valuation Theoryp. 1
Case Study: Valuing Amazon.comp. 19
Amazon.com: Accounting Reviewp. 40
Establishing the Base Case Valuation for Amazon.comp. 93
Advanced Valuation Topicsp. 143
The Cost of Capitalp. 145
RoCEL: Return on Capital Limitation Techniquep. 167
Options I: ESOPs and Convertible Debtp. 187
Options II: Real Optionsp. 221
Assessing Current Practice in Valuationp. 239
Market Efficiency and Internet Stocksp. 269
Addressing the Strategic Issuesp. 279
The Profitability Imperative and Competitive Advantagep. 281
Applying Standard Strategic Models to Internet Businessesp. 291
Assessing the New-Economy Modelsp. 321
The Outlook for Internet Business Segmentsp. 345
Case Study NTT Do Co Mo: Mobile Telephony in Japanp. 357
Applicationsp. 373
Valuing Start-up Firmsp. 375
Case Study: Trendybop.com: Fashion for the e-Generationp. 405
Issues in Internet M&A Valuationp. 413
Case Study: AOL and Time Warnerp. 423
Issues in 'Clicks and Mortar'p. 434
Conclusion: Back to Valuep. 443
Referencesp. 445
Indexp. 449
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780333949603
ISBN-10: 0333949609
Series: Finance and Capital Market
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 454
Published: 22nd May 2002
Publisher: Palgrave Macmillan
Country of Publication: GB
Dimensions (cm): 23.5 x 15.88  x 3.18
Weight (kg): 0.86
Edition Number: 1

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