000			03501nas|a2200445 i 4500
005			20260817162958.0
008			031219s2003 th uu m rtt 00| a1eng d
035			_a.b1190771x
099		9	_aAIT RSPR no.SM-03-39
100	1		_aLuo, Moming
245	1	0	_aApplication of the real options approach to the valuation of companies : _bimplications for Chinese internet companies
260			_aBangkok : _bAsian Institute of Technology, _c2003
300			_a50 leaves
490	1		_aResearch studies project report ; _vno. SM-03-39
500			_aA research study submitted in partial fulfillment of the requirements for the degree of Master of Business Adminishation, School of Management
502			_aResearch report (M.Sc.) - Asian Institute of Technology, 2003
520			_aThe 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.
650		0	_aInternet industry _xValuation _zChina
650		0	_aValuation _zChina
700	1		_aTang, John C.S., _eChairperson
700	0		_aSingha Chiamsiri, _eExamination committee
700	0		_aSununta Siengthai, _eExamination Committee
710	2		_aChina Scholarship Council, _eSchlorship donor
810	2		_aAsian Institute of Technology. _tResearch studies project report ; _vno. SM-03-39
856			_3Full-Text _uhttp://203.159.5.9/ait-thesis/detail.php?q=B07787
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902			_a240704
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