03501nas|a2200445 i 4500 20260817162958.0 031219s2003 th uu m rtt 00| a1eng d .b1190771x AIT RSPR no.SM-03-39 Luo, Moming Application of the real options approach to the valuation of companies : implications for Chinese internet companies Bangkok : Asian Institute of Technology, 2003 50 leaves Research studies project report ; no. SM-03-39 A research study submitted in partial fulfillment of the requirements for the degree of Master of Business Adminishation, School of Management Research report (M.Sc.) - Asian Institute of Technology, 2003 The internet companies began to boom in China in the late 1990s, started as simple dot.com or pure play click companies and evolved gradually to integrate the new technologies in the traditional old economy firms, using the internet to connect more effectively with customers, suppliers and other partners. This as a matter of fact leads to the improvement in productivity and the increase of market share. But the dot.com companies suffered from the lack of profits and business models and only those firms which are capable of using successfully the new leverage of web technology in their business model will come out to be the winners. The traditional valuation techniques, such as DCF, multiples or EVA, are not able to quantify the worth of internet companies. The theory of real options has therefore been put forward as an alternative to the traditional methods for the valuation of internet companies to capture the real worth of these companies at a particular point in time. This paper tries to study the suitability of the real option approach to evaluating internet companies and the problems associated with it both conceptually and practically. Some recommendations have been made for the valuation of Chinese internet companies. Internet industry Valuation China Valuation China Tang, John C.S., Chairperson Singha Chiamsiri, Examination committee Sununta Siengthai, Examination Committee China Scholarship Council, Schlorship donor Asian Institute of Technology. Research studies project report ; no. SM-03-39 Full-Text http://203.159.5.9/ait-thesis/detail.php?q=B07787 .b1190771x mnait u 240704 0 031219 m a u 0 mnait mnait mnarc mnarc 20 40 Barcode : 30050120666838 CREATED : 2003-12-22 RECORD # : i12368106 LPATRON : 1016947 LCHKIN : 2005-12-13 # RENEWALS : 0 # OVERDUE : 0 IUSE3 : 0 TOT CHKOUT : 2 TOT RENEW : 1 Barcode : 30050120666952 CREATED : 2003-12-22 RECORD # : i12368118 LPATRON : 1015149 LCHKIN : 2004-07-15 # RENEWALS : 0 # OVERDUE : 0 IUSE3 : 0 TOT CHKOUT : 1 TOT RENEW : 0 Barcode : 30050160079405 CREATED : 2016-05-22 RECORD # : i12984607 LPATRON : 0 LCHKIN : - # RENEWALS : 0 # OVERDUE : 0 IUSE3 : 0 TOT CHKOUT : 0 TOT RENEW : 0 Barcode : 30050120994370 CREATED : 2020-06-03 RECORD # : i13266305 LPATRON : 0 LCHKIN : - # RENEWALS : 0 # OVERDUE : 0 IUSE3 : 0 TOT CHKOUT : 0 TOT RENEW : 0 6905 6905 0 0 0 0 MAIN MAIN mnait 2026-08-17 50.00 0 AIT RSPR no.SM-03-39 30050120666838 2026-08-17 16:29:58 1 2026-08-17 20 0 0 0 0 MAIN MAIN mnait 2026-08-17 50.00 0 AIT RSPR no.SM-03-39 30050120666952 2026-08-17 16:29:58 2 2026-08-17 20 0 0 0 0 MAIN MAIN mnarc 2026-08-17 0 AIT RSPR no.SM-03-39 30050160079405 2026-08-17 16:29:58 1 2026-08-17 40 0 0 0 0 MAIN MAIN mnarc 2026-08-17 0 AIT RSPR no.SM-03-39 30050120994370 2026-08-17 16:29:58 3 2026-08-17 20