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F2C – An Innovative...
F2C – An Innovative Approach to Use Fuzzy Cognitive Maps (FCM) for the Valuation of High-Technology Ventures
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- Heydebreck, Peter (författare)
- Inno AG, Karlsruhe, Germany
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- Klofsten, Magnus (författare)
- Linköpings universitet,Projekt, innovationer och entreprenörskap,Tekniska högskolan,PIE
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- Krüger, Lars (författare)
- Engage – Key Technology Ventures AG, Rostock / Germany
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(creator_code:org_t)
- IBIMA Publishing, 2011
- 2011
- Engelska.
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Ingår i: Communications of the IBIMA. - : IBIMA Publishing. - 1943-7765. ; 2011:Article ID 483882, s. 1-14
- Relaterad länk:
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http://ibimapublishi...
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https://urn.kb.se/re...
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https://doi.org/10.5...
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Abstract
Ämnesord
Stäng
- We propose a novel method - F2C - that can process the only information available in the early stages of a young high-technology venture: linguistic expert knowledge. This knowledge is the basis for the determination of an appropriate discount rate for the valuation of high-technology ventures in early stages of venture capital investments. A specific tool named Fuzzy Cognitive Map (FCM) is used therein to capture and depict the expert knowledge. Consequently, the FCM is transformed into a system of Fuzzy Inference Systems. These systems allow eventually obtaining a crisp value for the crucial parameter, the discount rate r. First practical applications were carried out valuing a biotechnology venture. The obtained results are promising, though the need for further research efforts became obvious.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business (hsv//eng)
Nyckelord
- Fuzzy Cognitive Map
- Venture Valuation
- Fuzzy Systems
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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