|Author's Email Address
||This thesis had been viewed 5561 times. Download 0 times.|
|Type of Document
||The Value Assessment of Alibaba— The Research of Gross Merchandise Volume and the Problem of Fakes|
|Date of Defense
||Discounted Cash Flow
Residual Income Valuation
gross merchandise volume
||Although the growth of Alibaba’s total gross merchandise volume is so amazing in recent years, the investors still hold a doubt for the truthfulness of its sales data and genuineness of the merchandise.|
This study use a qualitative point of view to discuss why the fakes are rampant, and we find out the coping strategy they adopt can really solve the problems and reduce concerns of investors.
In addition, this study also attempts to analyze whether the excessive expansion of gross merchandise volume will make an impact on the valuation of Alibaba and we find that the use of a previously published GMV can estimate the revenues more objectively.
Finally, this study use Discounted Cash Flow and Residual Income Valuation
to evaluate Alibaba’s value .Contrary to short seller, this study think that the current stock price is underestimated.
This study concludes with recommendations for future research directions, hoping to find the effective factor to quantify the fakes and includes the factor in the valuation model, which will increase the accuracy of the business valuation.
||Fen-Hui Lin - chair|
Jen-Her Wu - co-chair
Lieu, Derming - advisor
Indicate in-campus at 5 year and off-campus access at 5 year.|
|Date of Submission