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Equity Valuation and Negative Earnings

The Case of the dot.com Bubble

  • Book
  • © 2017

Overview

Authors:
  1. Ana Paula Matias Gama

    1. Management and Economis Department, University of Beira Interior, Covilhâ, Portugal

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  2. Liliane Cristina Segura

    1. Universidade Presbiteriana Mackenzie, São Paolo, Brazil

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  3. Marco Antonio Figueiredo Milani Filho

    1. State University of Campinas - UNICAMP, Limiera, Brazil

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  • Demonstrates how to use the Feltham and Ohlson models in dot.com valuation
  • Discusses the effects of conservative equity valuation
  • Explores the impact of R&D in equity valuation
  • Includes supplementary material: sn.pub/extras

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xv
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  2. Introduction

    1. Front Matter

      Pages 1-1
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    2. Introduction

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 3-16

  3. Literature Review

    1. Front Matter

      Pages 17-17
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    2. The Ohlson and Feltham Ohlson Models

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 19-41

    3. The Value Relevance of the Variables Earnings and Book Value of Equity for Valuation Purposes

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 43-63

    4. The Impact of Investment in Intangible Assets on the Market Value

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 65-82

  4. Empirical Study

    1. Front Matter

      Pages 83-83
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    2. Period, Sample Selection and Definition of Variables

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 85-106

    3. Method

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 107-137

    4. Analysis and Discussion of Results

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 139-157

  5. Conclusions

    1. Front Matter

      Pages 159-159
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    2. Conclusions and Suggestions for Further Research

      • Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho
      Pages 161-167
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Keywords

About this book

Building upon Feltham and Ohlson models, this book examines positive loss-earnings within the context of the dot.com bubble during the boom years of the late 1990s bull market. The strong demand for equity financing captured the imagination of investors from Europe and U.S. like never before. With a focus on U.S. Internet companies, the book explores both the birth and the death of the new economy, and how negative earnings and losses still garnered large investments and successful IPOs (Initial Public Offerings). As Internet based ventures and the digital economy keep attracting large amounts of equity financing, this book explains that there is something unique in the valuation and pricing of tech companies. The book was written for corporate financiers, capital market professionals, and academics to further their understanding of equity valuation and the effects of equity trading.

Authors and Affiliations

  • Management and Economis Department, University of Beira Interior, Covilhâ, Portugal

    Ana Paula Matias Gama

  • Universidade Presbiteriana Mackenzie, São Paolo, Brazil

    Liliane Cristina Segura

  • State University of Campinas - UNICAMP, Limiera, Brazil

    Marco Antonio Figueiredo Milani Filho

About the authors



Bibliographic Information

  • Book Title: Equity Valuation and Negative Earnings

  • Book Subtitle: The Case of the dot.com Bubble

  • Authors: Ana Paula Matias Gama, Liliane Cristina Segura, Marco Antonio Figueiredo Milani Filho

  • Series Title: Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application

  • DOI: https://doi.org/10.1007/978-981-10-3009-3

  • Publisher: Springer Singapore

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: Springer Nature Singapore Pte Ltd. 2017

  • Hardcover ISBN: 978-981-10-3007-9Published: 30 December 2016

  • Softcover ISBN: 978-981-10-9761-4Published: 07 July 2018

  • eBook ISBN: 978-981-10-3009-3Published: 20 December 2016

  • Series ISSN: 2509-7873

  • Series E-ISSN: 2509-7881

  • Edition Number: 1

  • Number of Pages: XV, 167

  • Number of Illustrations: 9 b/w illustrations

  • Topics: Finance, general, e-Business/e-Commerce

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