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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.
About the author
Dr. Adelin Trusculescu is a Managing Director specializing in Technology M&A, with 15 years’ experience and over 35 closed transactions. He holds a degree from Boston University’s Questrom School of Business and a doctorate from Politehnica University Timișoara. As an author, he has published numerous works on various aspects of corporate valuation.
List of contents
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.
About the author
Dr. Adelin Trusculescu is a Managing Director specializing in Technology M&A, with 15 years’ experience and over 35 closed transactions. He holds a degree from Boston University’s Questrom School of Business and a doctorate from Politehnica University Timișoara. As an author, he has published numerous works on various aspects of corporate valuation.
Summary
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.
