Business Valuation Across the Industry Life Cycle

This book examines the valuation of internet-enabled businesses across their industry life cycles, demonstrating the shifts in valuation multiples and drivers over time, providing a comprehensive framework to better understand and optimize business valuations. Internet Evolution as Natural Experiment: The internet s rise from innovation to necessity, driven by 5G and AI offers a unique lens on valuation methodologies across industry life cycles.

Methodological Approach: Unprecedented quantitative and qualitative research analyzing 1, 767 companies globally across 21 industries and 15 years, covering 120 multiples, 216 drivers, and 100 million data points.

Valuation Framework: It proposes a groundbreaking framework linking valuation multiples and drivers to industry life cycles, illustrating the shift from revenue- to profitability-based multiples and from growth-centric to growth-and-profitability drivers as companies mature.

Practical Implications: It concludes with recommendations for stakeholders on monitoring valuation multiples and drivers for value-maximizing strategies across virtually all mature and emerging technologies.

Introduction And Research Objective. - The Research Context And Challenge - The Internet As A Natural Experiment For The Study Of Finance. - Literature Review: Research Hypotheses And Methodology. - Definition And Characterization Of The Research Sample: The Considered Companies And Their Business Models. - Acquisition And Processing Of The Data For The Study. - Descriptive Statistics. - Testing The Hypothesis And The Model (Inferential Statistics). - Conclusions: Original Contributions And Future Research. - References Thesis.