The “going public” process is under strain, as the characteristics of companies going public, and the investor base investing in those companies’ IPOs, has changed. In addition to companies going public with more unformed business models, many of these companies market themselves to...

How can a company that has never turned a profit have a multibillion dollar valuation? Why do some start-ups attract large investments while others do not? Aswath Damodaran, finance professor and experienced investor, argues that the power of story drives corporate value, adding substance to...