Les facteurs stratégiques influençant l'évaluation des start-ups par les capitaux-risqueurs

Tarek Miloud () and Mathieu Cabrol ()
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Tarek Miloud: INSEEC - INSEEC Alpes-Savoie - INSEEC - Institut des hautes études économiques et commerciales | School of Business and Economics
Mathieu Cabrol: IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc

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Abstract: A new venture valuation by venture capitalists is a particular delicate task, since they don't historical data to make a forecast. Guided by established theories in strategic management, the article proposes a theoretical rationale and develops an integrated theoretical framework to investigate new valuation. Statistical analyses are conducted on 184 rounds of venture capital financing accounting for 102 new ventures. The empirical results help to establish an initial linkage between the well-developed theories in strategic management and under-researched venture capital valuation practice.

Keywords: capital-risque; évaluation des start-ups; méthodes d'évaluation; venture capital; start-ups valuation; valuation method (search for similar items in EconPapers)
Date: 2011
Note: View the original document on HAL open archive server: https://hal.science/hal-00951565v1
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Published in Revue management & avenir, 2011, 9 (49), pp.36-61. ⟨10.3917/mav.049.0036⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00951565

DOI: 10.3917/mav.049.0036

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