A complementary valuation model and exit multiples

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2025-03-24 DOI:10.1016/j.frl.2025.107182

Hyoung-Goo Kang , Doojin Ryu

引用次数: 0

Abstract

We propose a valuation integrating growth dynamics and exit multiples to resolve inconsistencies in traditional models that misalign present valuations with terminal values. Our approach ensures coherence between entry and exit values by combining intrinsic and relative methods, providing a consistent tool. Particularly for venture capital and private equity, our model clarifies the role of exit multiples in intrinsic valuations.

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互补的估值模型和退出倍数

我们提出了一个整合增长动态和退出倍数的估值，以解决传统模型中当前估值与最终价值不一致的不一致性。我们的方法通过结合内在方法和相关方法，提供一致的工具，确保进入值和退出值之间的一致性。特别是对于风险资本和私募股权，我们的模型阐明了退出倍数在内在估值中的作用。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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