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Bewertung von Unternehmen bei Venture-Capital-Finanzierungen

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Author Info
Ann-Kristin Achleitner
Eva Nathusius ()
Abstract

Das Gebiet der Unternehmensbewertung wurde in den letzten Jahren in Theorie sowie Praxis kontrovers diskutiert. Bei der Vielfalt der daraus hervorgegangenen Bewertungskonzeptionen und -methoden gestaltet sich die Beantwortung der Frage nach dem Wert eines Unternehmens zunehmend schwieriger. Insbesondere bei Unternehmen, die eine Venture-Capital- Finanzierung anstreben, ergeben sich aus den Charakteristika derartiger Unternehmen besondere Probleme bei der Wertermittlung. So besteht eine erhebliche Diskrepanz zwischen der theoretisch-konzeptionellen Güte und der praktischen Akzeptanz eines Bewertungsverfahrens. Vor diesem Hintergrund sind die einzelnen Verfahren mit Hinblick auf die speziellen Anforderungen eines Venture Capitalist zu analysieren.

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File URL: http://www.ef.wi.tu-muenchen.de/Working_Papers/EF_WP_01-04_Unternehmensbewertung_VC-Finanzierung.pdf
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Publisher Info
Paper provided by DtA chair in Entrepreneurial Finance, Munich University of Technology, Germany in its series EF Working Paper Series with number 022003.

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Length: 20 pages
Date of creation: 15 Jul 2003
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Handle: RePEc:tum:efefef:022003

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  1. Amir, Eli & Lev, Baruch, 1996. "Value-relevance of nonfinancial information: The wireless communications industry," Journal of Accounting and Economics, Elsevier, vol. 22(1-3), pages 3-30, October. [Downloadable!] (restricted)
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