Kallir, Ido; Agmon, Tamir - In: International Journal of Financial Research 6 (2015) 2, pp. 203-217
Fair value depends on an estimate of the both cash flow and risk, which is not an easy task when valuing startup firms. We present a measurement instrument for the future risk of small and risky firms that follows the major propositions in accounting and finance. It differs from other valuation...