A Comprehensive Approach To The Valuation Of Knowledge-Based Firms by Unifying Entrepreneurship and Investment Criteria

Document Type : Original Article

Authors
MohammadReza Jafari 1
azam shiri 2
1 Assistant Professor, Department of Industrial Engineering, Faculty of Engineering and Technology, Payam Noor University, Tehran, Iran
2 Lecturer, Department of Management, Lorestan University of Applied Sciences, Iran
10.30495/jik.2024.74622.4359
Abstract
Today, entrepreneurs consider the process of development and investment in knowledge-based projects as a fundamental issue and the driving force of the economic growth of knowledge-based companies. In this review, a comprehensive approach to prioritizing the valuation methods of knowledge-based companies is presented, with the aim of unifying the view of entrepreneurs and investors on the four dimensions of asset valuation, intellectual property, technology and startup. First, by examining the available resources in each group, effective criteria in the valuation of existing knowledge-based companies have been extracted and evaluated by experts from the perspective of implementation capability using the Delphi method. Then, he determined the weight of the importance of the criteria using the fuzzy hierarchy analysis method, and the weight of the importance of each method according to the criteria was determined with the topsis-fuzzy method, which was effective in identifying the strengths and weaknesses of the methods. Therefore, in the asset group, the discounted cash flow method with a relative distance of 0.56149, in the intellectual property group, the direct intellectual capital method, 0.51065, in the technology group, the option transaction method, 0.58619, and in the startup group, the First Chicago method, 0.61215, are also approved according to the criteria required by entrepreneurs and investors
Keywords
Fuzzy TOPSIS
Fuzzy AHP
Knowledge-based Firms
Valuation

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