-----Messaggio originale-----
Da:
Anna Manghetti <[log in to unmask]>
A:
>
Data: MARTEDI' 29 febbraio 2000 10.44
Oggetto: R:
Valuation of an Internet Brokerage Company
Dear All,
I refer to my previous message dated 28
February, last concerning the valuation of an Internet Brokerage Company.
I'm not sure I have been clear enough about the problem.
In the Valuation of New Economy Companies
(as Internet Companies), traditional models (Discounted Cash Flow models
or Multiples Models) do not explain actual market capitalization and therefore
i'm trying to find out if there is any alternative way to assess Equity in this
kind of companies. I have been told that real options models, in particular
binomial models, could be applied to this kind of valuation. What do you think
? Morover, even binomial models could be the right ones, I have no
idea how to apply these models to my valuation and how to structure the "
turning points" in the binomial models.
If you wish to read something related to real option theory I
enclose herewith the address of Internet Site of Mr Damodaran, a Finance Professor who has written some essays in relation to
Real Options
applied to Company Valuations:
In particular, if you wish, you can read the following
papaer:
Application of Option Pricing Theory to Equity Valuation by A
Damodaravan
Have you any idea of other methods which could
be applicable to this case?
Thank you in advance for your help.
Anna Manghetti
Gabriele Susinno
Dr Sc.
Phys.