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http://dx.doi.org/10.22788/5.2.7

Suggestion of Platform Valuation Method for Establishment of Platform Regulatory Standards  

Lee, Chang-hyun (Graduate School of Business, Hanyang University)
Park, Un-chan (Graduate School of Business, Hanyang University)
Lee, Sang-myung (School of Business, Hanyang University)
Publication Information
Journal of Venture Innovation / v.5, no.2, 2022 , pp. 101-110 More about this Journal
Abstract
It is easy for first movers of platform business model to monopolize the market due to the platform's own characteristics such as network effect and flywheel strategy. Accordingly, the regulations on platform operators are constantly being discussed in the recent monopoly regulation arguments, but the concrete regulations have not been settled worldwide. This is because there is no clear consensus on the valuation method which can objectively identify dominant platform firms from the others. This study suggested a platform valuation method based on the Tobin's Q theory, by measuring the moderating effect of the existence of specific scale of platform on the relationship between replacement cost and market valuation. Our method can not only be a standard for settling monopoly regulation by converging the regulation targets, but also contribute to active investment on the new platform firms by evaluating their potential growths quantitatively.
Keywords
Platform regulation; platform valuation; Tobin's Q theory; platform strategy;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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