Assessing the Factors Related to a Start-Up’s Valuation Using Prediction and Causal Discovery
Research indicates that investors rely on various criteria to evaluate early-stage companies. However, past research in this area has focused on subsets of factors and does not distinguish between the predictors and causal determinants of start-up valuation. In our study, we applied machine learning...
Gespeichert in:
| Veröffentlicht in: | Entrepreneurship theory and practice 2023-09, Vol.47 (5), p.2017-2044 |
|---|---|
| Hauptverfasser: | , , , , , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 2044 |
|---|---|
| container_issue | 5 |
| container_start_page | 2017 |
| container_title | Entrepreneurship theory and practice |
| container_volume | 47 |
| creator | Garkavenko, Mariia Beliaeva, Tatiana Gaussier, Eric Mirisaee, Hamid Lagnier, Cédric Guerraz, Agnès |
| description | Research indicates that investors rely on various criteria to evaluate early-stage companies. However, past research in this area has focused on subsets of factors and does not distinguish between the predictors and causal determinants of start-up valuation. In our study, we applied machine learning and causal discovery to analyze a comprehensive dataset with 57 independent variables and 2,366 valuations of start-ups in the United Kingdom. The results show a strong relationship between good predictors and causal determinants of valuation. However, noncausal variables may still be useful for prediction, and inversely, some observed causes may not help in the prediction task. |
| doi_str_mv | 10.1177/10422587221121291 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_hal_p</sourceid><recordid>TN_cdi_hal_primary_oai_HAL_hal_04278158v1</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sage_id>10.1177_10422587221121291</sage_id><sourcerecordid>2849281192</sourcerecordid><originalsourceid>FETCH-LOGICAL-c403t-321a9eead5435f105b1c343b58317adef3686c652b3d728299e8b7f16dd41ce93</originalsourceid><addsrcrecordid>eNp1kM1KxDAUhYsoOP48gLuAKxfV3KRp0-UwOioMKOq4Dbdpqh1qMyYZwZ2v4ev5JGas6ELMJuHkO-f-JMkB0GOAojgBmjEmZMEYAANWwkYyApHRNBeMbsZ3_E_XwHay4_2Cro-AUaLG3hvv2_6BhEdDpqiDdZ7cmA6DqUmwBMltQBfS-fLj7d2Te-xWGFrbk_mX69qZutVfAvY1meDKY0dOW6_ti3Gve8lWg503-9_3bjKfnt1NLtLZ1fnlZDxLdUZ5SDkDLI3BWmRcNEBFBZpnvBKSQ4G1aXgucx1nqXhdMMnK0siqaCCv6wy0KflucjTkPmKnlq59QveqLLbqYjxTay3OX0gQ8gUieziwS2efV8YHtbAr18f2FJNZySRAySIFA6Wd9d6Z5icWqFrvXP3ZefSQwWO07Vv_65AiB8pzziNyPCAeH8xv4f8zPwFs1YpG</addsrcrecordid><sourcetype>Open Access Repository</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2849281192</pqid></control><display><type>article</type><title>Assessing the Factors Related to a Start-Up’s Valuation Using Prediction and Causal Discovery</title><source>SAGE Complete</source><creator>Garkavenko, Mariia ; Beliaeva, Tatiana ; Gaussier, Eric ; Mirisaee, Hamid ; Lagnier, Cédric ; Guerraz, Agnès</creator><creatorcontrib>Garkavenko, Mariia ; Beliaeva, Tatiana ; Gaussier, Eric ; Mirisaee, Hamid ; Lagnier, Cédric ; Guerraz, Agnès</creatorcontrib><description>Research indicates that investors rely on various criteria to evaluate early-stage companies. However, past research in this area has focused on subsets of factors and does not distinguish between the predictors and causal determinants of start-up valuation. In our study, we applied machine learning and causal discovery to analyze a comprehensive dataset with 57 independent variables and 2,366 valuations of start-ups in the United Kingdom. The results show a strong relationship between good predictors and causal determinants of valuation. However, noncausal variables may still be useful for prediction, and inversely, some observed causes may not help in the prediction task.</description><identifier>ISSN: 1042-2587</identifier><identifier>EISSN: 1540-6520</identifier><identifier>EISSN: 1540-8520</identifier><identifier>DOI: 10.1177/10422587221121291</identifier><language>eng</language><publisher>Los Angeles, CA: SAGE Publications</publisher><subject>Business administration ; Business valuation ; Discovery ; Entrepreneurship ; Humanities and Social Sciences ; Predictions ; Startups ; Subsets ; Valuation</subject><ispartof>Entrepreneurship theory and practice, 2023-09, Vol.47 (5), p.2017-2044</ispartof><rights>The Author(s) 2022</rights><rights>Distributed under a Creative Commons Attribution 4.0 International License</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c403t-321a9eead5435f105b1c343b58317adef3686c652b3d728299e8b7f16dd41ce93</citedby><cites>FETCH-LOGICAL-c403t-321a9eead5435f105b1c343b58317adef3686c652b3d728299e8b7f16dd41ce93</cites><orcidid>0000-0003-0527-2745 ; 0000-0002-8858-3233</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://journals.sagepub.com/doi/pdf/10.1177/10422587221121291$$EPDF$$P50$$Gsage$$H</linktopdf><linktohtml>$$Uhttps://journals.sagepub.com/doi/10.1177/10422587221121291$$EHTML$$P50$$Gsage$$H</linktohtml><link.rule.ids>230,314,776,780,881,21798,27901,27902,43597,43598</link.rule.ids><backlink>$$Uhttps://hal.science/hal-04278158$$DView record in HAL$$Hfree_for_read</backlink></links><search><creatorcontrib>Garkavenko, Mariia</creatorcontrib><creatorcontrib>Beliaeva, Tatiana</creatorcontrib><creatorcontrib>Gaussier, Eric</creatorcontrib><creatorcontrib>Mirisaee, Hamid</creatorcontrib><creatorcontrib>Lagnier, Cédric</creatorcontrib><creatorcontrib>Guerraz, Agnès</creatorcontrib><title>Assessing the Factors Related to a Start-Up’s Valuation Using Prediction and Causal Discovery</title><title>Entrepreneurship theory and practice</title><description>Research indicates that investors rely on various criteria to evaluate early-stage companies. However, past research in this area has focused on subsets of factors and does not distinguish between the predictors and causal determinants of start-up valuation. In our study, we applied machine learning and causal discovery to analyze a comprehensive dataset with 57 independent variables and 2,366 valuations of start-ups in the United Kingdom. The results show a strong relationship between good predictors and causal determinants of valuation. However, noncausal variables may still be useful for prediction, and inversely, some observed causes may not help in the prediction task.</description><subject>Business administration</subject><subject>Business valuation</subject><subject>Discovery</subject><subject>Entrepreneurship</subject><subject>Humanities and Social Sciences</subject><subject>Predictions</subject><subject>Startups</subject><subject>Subsets</subject><subject>Valuation</subject><issn>1042-2587</issn><issn>1540-6520</issn><issn>1540-8520</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2023</creationdate><recordtype>article</recordtype><recordid>eNp1kM1KxDAUhYsoOP48gLuAKxfV3KRp0-UwOioMKOq4Dbdpqh1qMyYZwZ2v4ev5JGas6ELMJuHkO-f-JMkB0GOAojgBmjEmZMEYAANWwkYyApHRNBeMbsZ3_E_XwHay4_2Cro-AUaLG3hvv2_6BhEdDpqiDdZ7cmA6DqUmwBMltQBfS-fLj7d2Te-xWGFrbk_mX69qZutVfAvY1meDKY0dOW6_ti3Gve8lWg503-9_3bjKfnt1NLtLZ1fnlZDxLdUZ5SDkDLI3BWmRcNEBFBZpnvBKSQ4G1aXgucx1nqXhdMMnK0siqaCCv6wy0KflucjTkPmKnlq59QveqLLbqYjxTay3OX0gQ8gUieziwS2efV8YHtbAr18f2FJNZySRAySIFA6Wd9d6Z5icWqFrvXP3ZefSQwWO07Vv_65AiB8pzziNyPCAeH8xv4f8zPwFs1YpG</recordid><startdate>20230901</startdate><enddate>20230901</enddate><creator>Garkavenko, Mariia</creator><creator>Beliaeva, Tatiana</creator><creator>Gaussier, Eric</creator><creator>Mirisaee, Hamid</creator><creator>Lagnier, Cédric</creator><creator>Guerraz, Agnès</creator><general>SAGE Publications</general><general>SAGE PUBLICATIONS, INC</general><general>Wiley</general><scope>OQ6</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope><scope>1XC</scope><scope>BXJBU</scope><orcidid>https://orcid.org/0000-0003-0527-2745</orcidid><orcidid>https://orcid.org/0000-0002-8858-3233</orcidid></search><sort><creationdate>20230901</creationdate><title>Assessing the Factors Related to a Start-Up’s Valuation Using Prediction and Causal Discovery</title><author>Garkavenko, Mariia ; Beliaeva, Tatiana ; Gaussier, Eric ; Mirisaee, Hamid ; Lagnier, Cédric ; Guerraz, Agnès</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c403t-321a9eead5435f105b1c343b58317adef3686c652b3d728299e8b7f16dd41ce93</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2023</creationdate><topic>Business administration</topic><topic>Business valuation</topic><topic>Discovery</topic><topic>Entrepreneurship</topic><topic>Humanities and Social Sciences</topic><topic>Predictions</topic><topic>Startups</topic><topic>Subsets</topic><topic>Valuation</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Garkavenko, Mariia</creatorcontrib><creatorcontrib>Beliaeva, Tatiana</creatorcontrib><creatorcontrib>Gaussier, Eric</creatorcontrib><creatorcontrib>Mirisaee, Hamid</creatorcontrib><creatorcontrib>Lagnier, Cédric</creatorcontrib><creatorcontrib>Guerraz, Agnès</creatorcontrib><collection>ECONIS</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><collection>Hyper Article en Ligne (HAL)</collection><collection>HAL-SHS: Archive ouverte en Sciences de l'Homme et de la Société</collection><jtitle>Entrepreneurship theory and practice</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Garkavenko, Mariia</au><au>Beliaeva, Tatiana</au><au>Gaussier, Eric</au><au>Mirisaee, Hamid</au><au>Lagnier, Cédric</au><au>Guerraz, Agnès</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Assessing the Factors Related to a Start-Up’s Valuation Using Prediction and Causal Discovery</atitle><jtitle>Entrepreneurship theory and practice</jtitle><date>2023-09-01</date><risdate>2023</risdate><volume>47</volume><issue>5</issue><spage>2017</spage><epage>2044</epage><pages>2017-2044</pages><issn>1042-2587</issn><eissn>1540-6520</eissn><eissn>1540-8520</eissn><abstract>Research indicates that investors rely on various criteria to evaluate early-stage companies. However, past research in this area has focused on subsets of factors and does not distinguish between the predictors and causal determinants of start-up valuation. In our study, we applied machine learning and causal discovery to analyze a comprehensive dataset with 57 independent variables and 2,366 valuations of start-ups in the United Kingdom. The results show a strong relationship between good predictors and causal determinants of valuation. However, noncausal variables may still be useful for prediction, and inversely, some observed causes may not help in the prediction task.</abstract><cop>Los Angeles, CA</cop><pub>SAGE Publications</pub><doi>10.1177/10422587221121291</doi><tpages>28</tpages><orcidid>https://orcid.org/0000-0003-0527-2745</orcidid><orcidid>https://orcid.org/0000-0002-8858-3233</orcidid></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 1042-2587 |
| ispartof | Entrepreneurship theory and practice, 2023-09, Vol.47 (5), p.2017-2044 |
| issn | 1042-2587 1540-6520 1540-8520 |
| language | eng |
| recordid | cdi_hal_primary_oai_HAL_hal_04278158v1 |
| source | SAGE Complete |
| subjects | Business administration Business valuation Discovery Entrepreneurship Humanities and Social Sciences Predictions Startups Subsets Valuation |
| title | Assessing the Factors Related to a Start-Up’s Valuation Using Prediction and Causal Discovery |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-02-01T14%3A18%3A34IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_hal_p&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Assessing%20the%20Factors%20Related%20to%20a%20Start-Up%E2%80%99s%20Valuation%20Using%20Prediction%20and%20Causal%20Discovery&rft.jtitle=Entrepreneurship%20theory%20and%20practice&rft.au=Garkavenko,%20Mariia&rft.date=2023-09-01&rft.volume=47&rft.issue=5&rft.spage=2017&rft.epage=2044&rft.pages=2017-2044&rft.issn=1042-2587&rft.eissn=1540-6520&rft_id=info:doi/10.1177/10422587221121291&rft_dat=%3Cproquest_hal_p%3E2849281192%3C/proquest_hal_p%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=2849281192&rft_id=info:pmid/&rft_sage_id=10.1177_10422587221121291&rfr_iscdi=true |