Classification, investment selection, and valuation of new venture and startups companies

Detalhes bibliográficos
Autor(a) principal: Securato Junior, Jose Roberto
Data de Publicação: 2021
Tipo de documento: Tese
Idioma: eng
Título da fonte: Biblioteca Digital de Teses e Dissertações da USP
Texto Completo: https://www.teses.usp.br/teses/disponiveis/12/12139/tde-07052021-180436/
Resumo: This thesis examines how investment selection and valuation of new ventures and startup companies vary along those companies\' life cycle. A three-phased research approach included i) a literature review on new ventures and startups, ii) a 105-investors survey and public interviews on investors\' perspectives, and iii) robust regressions of expected returns along the life cycle of new ventures and startups. There are vital pieces of evidence that investors\' expectations vary along the life cycle of new ventures and startups. Newer ventures are focused on survival, whereas older ventures aim at becoming relevant. The investors\' perception of risk and expected return change significantly as the new venture overcomes obstacles and reaches certain milestones. This thesis presents the Life Cycle Valuation Method, filling a void in the valuation of new ventures and startups.
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spelling Classification, investment selection, and valuation of new venture and startups companiesClassificação, seleção de investimentos, e valuation de new ventures e startupsAvaliação de new ventureAvaliação de startupCiclo de vida da empresaClassificação de startupExpectativas dos investidoresInvestment selectioninvestors expectationsLife cycleNew venture valuationSeleção de investimentosStartup classificationStartup valuationThis thesis examines how investment selection and valuation of new ventures and startup companies vary along those companies\' life cycle. A three-phased research approach included i) a literature review on new ventures and startups, ii) a 105-investors survey and public interviews on investors\' perspectives, and iii) robust regressions of expected returns along the life cycle of new ventures and startups. There are vital pieces of evidence that investors\' expectations vary along the life cycle of new ventures and startups. Newer ventures are focused on survival, whereas older ventures aim at becoming relevant. The investors\' perception of risk and expected return change significantly as the new venture overcomes obstacles and reaches certain milestones. This thesis presents the Life Cycle Valuation Method, filling a void in the valuation of new ventures and startups.Esta tese examina como a seleção de investimentos e a avaliação econômico financeira de new ventures e startups variam ao longo do ciclo de vida destas companhias. A abordagem de pesquisa foi estruturada em 3 fases: i) revisão da literatura em new ventures e startups, ii) um questionário para 105 investidores qualificados e entrevistas públicas sobre perspectivas dos investidores, e iii) modelagem do retorno esperado ao longo do ciclo de vida das new ventures e startups com base em regressões robustas. Existem fortes evidências de que as expectativas dos investidores variam ao longo do ciclo de vida de uma startup ou new venture. Empreendimentos mais novos estão focados em sobrevivência, enquanto empreendimentos mais maduros buscam se tornar relevantes nos seus mercados. À medida que o novo empreendimento supera obstáculos e alcança certos marcos, a percepção de risco retorno muda significativamente. Esta tese de doutorado apresenta o Método de Valuation com base no Ciclo de Vida da empresa, preenchendo uma lacuna em valuation de new ventures e startups.Biblioteca Digitais de Teses e Dissertações da USPSavoia, Jose Roberto FerreiraSecurato Junior, Jose Roberto2021-01-29info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/doctoralThesisapplication/pdfhttps://www.teses.usp.br/teses/disponiveis/12/12139/tde-07052021-180436/reponame:Biblioteca Digital de Teses e Dissertações da USPinstname:Universidade de São Paulo (USP)instacron:USPLiberar o conteúdo para acesso público.info:eu-repo/semantics/openAccesseng2021-05-22T01:09:02Zoai:teses.usp.br:tde-07052021-180436Biblioteca Digital de Teses e Dissertaçõeshttp://www.teses.usp.br/PUBhttp://www.teses.usp.br/cgi-bin/mtd2br.plvirginia@if.usp.br|| atendimento@aguia.usp.br||virginia@if.usp.bropendoar:27212021-05-22T01:09:02Biblioteca Digital de Teses e Dissertações da USP - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Classification, investment selection, and valuation of new venture and startups companies
Classificação, seleção de investimentos, e valuation de new ventures e startups
title Classification, investment selection, and valuation of new venture and startups companies
spellingShingle Classification, investment selection, and valuation of new venture and startups companies
Securato Junior, Jose Roberto
Avaliação de new venture
Avaliação de startup
Ciclo de vida da empresa
Classificação de startup
Expectativas dos investidores
Investment selection
investors expectations
Life cycle
New venture valuation
Seleção de investimentos
Startup classification
Startup valuation
title_short Classification, investment selection, and valuation of new venture and startups companies
title_full Classification, investment selection, and valuation of new venture and startups companies
title_fullStr Classification, investment selection, and valuation of new venture and startups companies
title_full_unstemmed Classification, investment selection, and valuation of new venture and startups companies
title_sort Classification, investment selection, and valuation of new venture and startups companies
author Securato Junior, Jose Roberto
author_facet Securato Junior, Jose Roberto
author_role author
dc.contributor.none.fl_str_mv Savoia, Jose Roberto Ferreira
dc.contributor.author.fl_str_mv Securato Junior, Jose Roberto
dc.subject.por.fl_str_mv Avaliação de new venture
Avaliação de startup
Ciclo de vida da empresa
Classificação de startup
Expectativas dos investidores
Investment selection
investors expectations
Life cycle
New venture valuation
Seleção de investimentos
Startup classification
Startup valuation
topic Avaliação de new venture
Avaliação de startup
Ciclo de vida da empresa
Classificação de startup
Expectativas dos investidores
Investment selection
investors expectations
Life cycle
New venture valuation
Seleção de investimentos
Startup classification
Startup valuation
description This thesis examines how investment selection and valuation of new ventures and startup companies vary along those companies\' life cycle. A three-phased research approach included i) a literature review on new ventures and startups, ii) a 105-investors survey and public interviews on investors\' perspectives, and iii) robust regressions of expected returns along the life cycle of new ventures and startups. There are vital pieces of evidence that investors\' expectations vary along the life cycle of new ventures and startups. Newer ventures are focused on survival, whereas older ventures aim at becoming relevant. The investors\' perception of risk and expected return change significantly as the new venture overcomes obstacles and reaches certain milestones. This thesis presents the Life Cycle Valuation Method, filling a void in the valuation of new ventures and startups.
publishDate 2021
dc.date.none.fl_str_mv 2021-01-29
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/doctoralThesis
format doctoralThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.teses.usp.br/teses/disponiveis/12/12139/tde-07052021-180436/
url https://www.teses.usp.br/teses/disponiveis/12/12139/tde-07052021-180436/
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv
dc.rights.driver.fl_str_mv Liberar o conteúdo para acesso público.
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Liberar o conteúdo para acesso público.
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.coverage.none.fl_str_mv
dc.publisher.none.fl_str_mv Biblioteca Digitais de Teses e Dissertações da USP
publisher.none.fl_str_mv Biblioteca Digitais de Teses e Dissertações da USP
dc.source.none.fl_str_mv
reponame:Biblioteca Digital de Teses e Dissertações da USP
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Biblioteca Digital de Teses e Dissertações da USP
collection Biblioteca Digital de Teses e Dissertações da USP
repository.name.fl_str_mv Biblioteca Digital de Teses e Dissertações da USP - Universidade de São Paulo (USP)
repository.mail.fl_str_mv virginia@if.usp.br|| atendimento@aguia.usp.br||virginia@if.usp.br
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