M&A and valuation of digital start-ups: the Glickon case
Sbrogna, Enrica (A.A. 2022/2023) M&A and valuation of digital start-ups: the Glickon case. Tesi di Laurea in Financial analysis, Luiss Guido Carli, relatore Francesco Legrottaglie, pp. 100. [Master's Degree Thesis]
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Abstract/Index
Mergers and acquisitions in the digital context. M&A definition and types. Background and context on the role and importance of M&A in the global economy. Digitalisation: phenomena and impacts on the M&A world. Definition and distinctive traits of traditional firms vs. "digital firms". Definition of traditional company. Definition of digital firm (DF). The importance of being digital. Main concepts related to AI and generative AI, impact and use cases. Business valuation. What is a business valuation, when is it conducted and what are the main valuation met. Review of valuation methods of traditional firm. The balance sheet-based approach. The income approach. The mixed capital-income approach. The financial approach. Empirical approaches. Challenges in applying traditional evaluation methods to digital start-ups. From the accounting to the book value. Business valuation of start-ups. The IPEV valuation method. The fair value of the investment in the target firms. The fair value of the investments in the portfolio companies. The break-up value of venture-backed companies. Stock exchange listing and other exit procedures. Valuation of the investment portfolio with a net asset value. Unicorns. Key person discounts, founder control, and governance implications. Networked digital platforms. Network theory. The impact of digital platforms on supply and value chain. Evolution multilayer start-ups. Case study.
References
Bibliografia: pp. 97-100.
| Thesis Type: | Master's Degree Thesis |
|---|---|
| Institution: | Luiss Guido Carli |
| Degree Program: | Master's Degree Programs > Master's Degree Program in Strategic Management (LM-77) |
| Chair: | Financial analysis |
| Thesis Supervisor: | Legrottaglie, Francesco |
| Thesis Co-Supervisor: | Magnanelli, Barbara Sveva |
| Academic Year: | 2022/2023 |
| Session: | Autumn |
| Deposited by: | Alessandro Perfetti |
| Date Deposited: | 11 Jun 2024 07:13 |
| Last Modified: | 11 Jun 2024 07:13 |
| URI: | https://tesi.luiss.it/id/eprint/38854 |
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