The valuation of internet stock initial public offerings : an exploratory study / by Pei Ling Tan.

Tan, Pei Ling. (2000). The valuation of internet stock initial public offerings : an exploratory study / by Pei Ling Tan. Honours Thesis, School of Business, The University of Queensland.

       
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Author Tan, Pei Ling.
Thesis Title The valuation of internet stock initial public offerings : an exploratory study / by Pei Ling Tan.
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 2000
Thesis type Honours Thesis
Total pages 101
Language eng
Subjects 14 Economics
Formatted abstract Many market commentators have argued that growth options represent a major proportion of the Internet stock prices. Using the binomial option model as a valuation tool, this thesis captures the growth options of the Australian Internet stock initial public offerings (IPOs) specifically. The six key variables in the model are argued to be the growth drivers of the sample firms.

Statistical results suggest that there is a significant difference between the binomial equity value and the closing equity value for the sample. This indicates that there may be other factors that are driving the Internet stock prices other than the growth options. Given Internet stocks valuation is a subject of much discussion in the financial press and among financial economists, this study provides a systematic way to think about the growth drivers of Internet firms and whether different Internet sectors exhibit the same form of growth options.

 
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Created: Wed, 03 Nov 2010, 15:17:01 EST by Mr Kevin Liang on behalf of The University of Queensland Library