Research states that the success of a specific innovation cannot be predicted. As a consequence, the value of such an … innovation can only be stated very late in the development process, or even in retrospect. Our empirical research shows that … professionals directly engaged in the design process are able to perform an early and complete valuation, and that similar patterns …

patent publications related to the innovation. Our estimate of the lower bound on the market valuation of iPhone is fairly …

innovative or hard-to-value (`HtV') companies whose price may be depressed due to valuation difficulties rather than managerial …-creating takeovers and increase innovation and do not induce agency con icts of managerial entrenchment. This implies that for innovative …