APPLICATIONS: FINANCE AND VALUATION
APPLICATIONS: FINANCE AND VALUATION
The author argues that start-up firms, distressed firms, and near-bankrupt firms are the exception, not the rule, in the modern economy. This raises the question of whether such firms, which are commonly small and financed largely by the entrepreneurs involved, have value. The chapter also discusses the applicability of traditional valuation methods for such firms, compared with the novel value functional or recursive method. The author concludes that, when properly evaluated, start-ups and distressed firms do have value.
Keywords: Start-up firms, entrepreneurial finance, bankrupt firms, distressed firms, business value, sports franchises, traditional valuation methodologies, failure of, value functional method, recursive method
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