What do we know about startup-valuation drivers? A systematic literature review 1 - Audencia Accéder directement au contenu
Article Dans Une Revue Venture Capital Année : 2023

What do we know about startup-valuation drivers? A systematic literature review 1

Résumé

Startup-valuation is a critical area of research within entrepreneurial finance, but research on this topic is less consistent and thorough than overall valuation research. Peer-reviewed studies express a range of divergent views and approaches, and the focus varies widely. To bring clarity to this fragmented field, we conduct a systematic literature review, examining 87 peer-reviewed studies published between 1985 and 2020. We analyze these publications in detail and identify 36 startupvaluation drivers and cluster them into five macro-themes: Entrepreneur Characteristics; Firm Characteristics; Investor Characteristics; Market Conditions; and Deal Conditions. We then describe the valuation-impact of these drivers on startups. The range of drivers identified in the literature gives rise to construction of an integrative meta-model based on the macro-themes, placed into appropriate chronological position in the valuation process Our study also identifies key research-gaps and highlights promising directions for exploring the startup-valuation field.
Fichier principal
Vignette du fichier
What do we know about startup-valuation drivers SLR 37 Submission.pdf (1.04 Mo) Télécharger le fichier
Origine : Fichiers éditeurs autorisés sur une archive ouverte

Dates et versions

hal-04232855 , version 1 (11-10-2023)

Identifiants

Citer

Max Berre, Benjamin Le Pendeven. What do we know about startup-valuation drivers? A systematic literature review 1. Venture Capital, 2023, 25 (4), pp.385-429. ⟨hal-04232855⟩
95 Consultations
322 Téléchargements

Altmetric

Partager

Gmail Facebook X LinkedIn More