Revenue and valuation of companies with digital platform business models

• Autorzy: Przemysław Pomykalski

Warianty tytułu

Przychody i wycena firm stosujących model biznesu platformy cyfrowej

• Języki publikacji: EN

Abstrakty

EN

Multisided, digital platforms attract considerable attention in business and academic circles. Seven out of the ten most valuable companies in the world derive much of their value from multisided platforms. The problem of defining and measuring value remains a major challenge in management literature. In this paper I analyze the relationship between the sales (revenue) and market capitalization of companies with digital platform business models. Data was used from a sample of 19 companies that used platform business models in 2017. To assess the correlation, Pearson correlation coefficient was applied. The results indicate that there was a significant positive relationship between revenue and market capitalization in 2017. This suggests that revenue may be used as the main variable in the valuation of companies using platform business models. The results point to future research problems that may be addressed using casebased methodology.(original abstract)

W ostatnich latach platformy cyfrowe przyciągnęły uwagę środowisk biznesu i akademickich. Siedem z dziesięciu spółek o największej kapitalizacji na świecie wykorzystuje model biznesu platformy cyfrowej. Problem definicji i pomiaru wartości pozostaje znacznym wyzwaniem w naukach o zarządzaniu. W artykule przedstawiono wyniki analizy relacji pomiędzy przychodami i kapitalizacją. Wykorzystano dane 19 spółek, które stosowały model biznesu platformy cyfrowej w 2017 roku, i obliczono współczynnik korelacji Pearsona. Wysoki współczynnik korelacji sugeruje, że przychody mogą być wykorzystane w wycenie spółek stosujących model biznesu platformy cyfrowej. Wyniki wskazują również na ograniczenia i problemy, które należy rozwiązywać, wykorzystując metody analizy studiów przypadków ze względu na duże zróżnicowanie badanych spółek.(abstrakt oryginalny)

Słowa kluczowe

EN

Internet platforms; Business models; Pearson correlation coefficient

PL

Platformy internetowe; Modele biznesowe; Współczynnik korelacji Pearsona

• Czasopismo: Nauki o Zarządzaniu / Uniwersytet Ekonomiczny we Wrocławiu
• Rocznik: 2019
• Tom: 24
• Numer: nr 1
• Strony: 11--18

Twórcy

autor

Przemysław Pomykalski

• Lodz University of Technology, Poland

Bibliografia

• Amit R., Zott C., 2001, Value creation in e-business, Strategic Management Journal, 22(6-7), pp. 493-520.
• Barney J.B., 1991, Firm resources and sustained competitive advantage, Journal of Management, 17, pp. 99-120.
• Birkinshaw J., Ansari S., 2015, Understanding Management Models. Going Beyond" What" and" Why" to" How" Work Gets Done in Organizations, [in:] N.J. Foss, T. Saebi, Business Model Innovation: The Organizational Dimension, Oxford Scholarship, pp. 85-103.
• Bresnahan T.F., Greenstein S., 1999, Technological competition and the structure of the computer industry, The Journal of Industrial Economics, 47(1), pp. 1-40.
• Casadesus-Masanell R., Ricart J.E., 2010, From strategy to business models and to tactics, Long- Range Planning, 43, pp. 195-215.
• Chesbrough H., Rosenbloom R.S., 2002, The role of the business model in capturing value from innovation: evidence from Xerox Corporation's technology spin-off companies, Industrial & Corporate Change, 11(3), pp. 529-555
• Choudary S.P., 2013, Why business models fail: pipes vs. platforms, Innovation Insights, Wired Magazine, January, 18, 2014.
• Damodaran A., 2018, Narrative and Numbers. The Value of Stories in Business, Columbia Business School Publishing, Columbia University Press, New York.
• Dyer J., Singh H., 1998, The relational view: cooperative strategy and sources of interorganizational competitive advantage, Academy of Management Review, 23, pp. 660-679.
• European Commission, 2016, Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions - Online Platforms and the Digital Single Market Opportunities and Challenges for Europe http://eur-lex.europa. eu/legal-content/EN/TXT/PDF/?uri=CELEX:52016DC0288& from=EN.
• Gawer A., Cusumano M.A., 2002, Platform Leadership: How Intel, Microsoft, and Cisco Drive Industry Innovation, Boston, MA, Harvard Business School Press.
• Kaleta A., Radomska J., Sołoducho-Pelc L., 2018, The relationship between the approach to strategic management and innovativeness in companies of various sizes, Argumenta Oeconomica, no. 1(40), pp. 203-224.
• Magretta J., 2002, Why business models matter, Harvard Business Review, 80, pp. 3-8.
• Markides C., Charitou, C.D., 2004, Competing with dual business models: a contingency approach, Academy of Management Executive, 18, pp. 22-36
• Morris M., Schindehutte M., Allen J., 2005, The entrepreneur's business model: toward a unified perspective, Journal of Business Research, 58, pp. 726-35.
• Osterwalder A., Pigneur Y., 2010, Business Model Generation: a Handbook for Visionaries, Game Changers, and Challengers, John Wiley & Sons.
• Pomykalska B., Pomykalski P., 2017, Analiza finansowa przedsiębiorstwa. Wskaźniki i decyzje w zarządzaniu, Wydawnictwo Naukowe PWN.
• Porter M.E., 1985, Competitive Advantage: Creating and Sustaining Superior Performance, Free Press, New York.
• Reillier L.C., Reillier B., 2017, Platform Strategy. How to Unlock the Power of Communities and Networks to Grow Your Business, Routledge.
• Rochet J., Tirole J., 2002, Cooperation among competitors: some economics of payment card associations, RAND Journal of Economics (RAND Journal Of Economics), 33(4), pp. 549-570.
• Rochet J., Tirole J., 2003, Platform competition in two-sided markets, Journal of The European Economic Association, 1(4), pp. 990-1029.
• Teece D.J., Linden G., 2017, Business models, value capture, and the digital enterprise, Journal of Organization Design, 6(1).
• Van Alstyne M.W., Parker G.G., Choudary S.P., 2016, Pipelines, platforms, and the new rules of strategy, Harvard Business Review, 94(4), pp. 54-62.
• Wheelwright S.C., Clark K.B., 1992, Creating project plans to focus product development, Harvard Business Review, 70(2), pp. 70-82.
• Yin R.K., 2014, Case Study Research. Design and Methods, 5th ed., Sage.
• Zott C., Amit R., Massa L., 2011, The business model: recent developments and future research, Journal of Management, 37(4), pp. 1019-1042.

Identyfikatory

DOI

10.15611/ms.2019.1.02