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  August 2003 Volume 33 Number 3
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The Value Relevance of Network Advantages: The Case of E-Commerce Firms
Shivaram Rajgopal, Mohan Venkatachalam, and Suresh Kotha
Journal of Accounting Research
vol. 4, no. 1 (March 2003):135162

Summarized by Charles F. Peake, CFA

The authors analyze whether the equity value of e-commerce companies is enhanced by the presence of networking effects gained by high website traffic. Regression results show that networking advantages increase the value of such companies. These advantages are incorporated into analysts' forecasts of future earnings, sales, and expenses.

Topical Index Keywords

Equity Investments
Fundamental Analysis and Valuation Models
Industry Analysis

Shivaram Rajgopal is at Duke University.
More articles by Shivaram Rajgopal.

Mohan Venkatachalam is at Duke University.
More articles by Mohan Venkatachalam.

Suresh Kotha is at the University of Washington.
More articles by Suresh Kotha.

Summarized by Charles F. Peake, CFA, Emeritus, University of Maryland, Baltimore County.

 


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