Assessing the value of e-businesses in emerging markets: spotlight on Romania

The e-bubble of 2000 was followed by a slowdown from 2001 to 2003, but recently the markets are e-bubbling again, especially the emerging ones in growing economies. An increasing number of transactions with e-businesses appears to occur which prompts the need for valuing the firms involved and for designing an appropriate methodology for their appraisal. Although a vast literature is dedicated to financial valuation techniques for a wide spectrum of companies in established markets and to appropriate valuation techniques adapted to emerging markets, there is thus far hardly any attention dedicated for the valuation of e-businesses in emerging markets. This paper aims to fill this gap, as in any innovation policy it is critical to estimate the value of new economic activity in a given region, particularly if it concerns high-risk new investments. The scope of this paper is to review the existing literature in the field of e-business and to explore an appropriate approach for a solid and practical methodolo...