03394ntm a22005177i 4500 000722995 CZ-PrVSE 20250614131007.0 m d cr n|||||||||| 250614s2025 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Mahmudov, Rufat ISIS:157925 dis Impact of Behavioral Biases on Startup Valuation eng Impact of Behavioral Biases on Startup Valuation / Rufat Mahmudov 2025 ?? stran : digital, PDF soubor Vedoucí práce: Tomáš Krabec Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví, 2025 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2025 This thesis investigates the impact of cognitive biases on startup valuation, particularly during the Initial Public Offering (IPO) process. Traditional valuation methods, such as Discounted Cash Flow (DCF) and Comparable Company Analysis (CCA), often assume rational decision-making, yet frequently fall short in the volatile startup environment due to inherent uncertainties and limited financial history. This research compares these traditional approaches with behavioral-adjusted models by analyzing the IPOs of three high-profile startups: Dropbox, Uber, and WeWork. Using a comparative case study methodology, the study examines financial disclosures, stock price performance (first-day, short-term, long-term), investor sentiment, and specific cognitive biases including overconfidence, optimism, anchoring, herding behavior, and loss aversion. Findings indicate that cognitive biases, particularly overconfidence and herding behavior, significantly influenced valuation outcomes, often leading to initial mispricing, valuation discrepancies, and subsequent market corrections. The study concludes that integrating behavioral finance principles into valuation practices is crucial for improving the accuracy and reliability of startup valuations, offering practical implications for investors, analysts, and founders navigating the complexities of the startup ecosystem. Způsob přístupu: Internet finance and accounting [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Behavioral Finance Startup Valuation Cognitive Biases IPO Krabec, Tomáš, 1981- mzk2005318008 ths Svačina, Pavel, 1979- mzk2006368362 opn Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví kn20010709398 dgg https://insis.vse.cz/zp/89336/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/89336 Hlavní práce https://insis.vse.cz/zp/89336/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/89336/posudek/oponent/86430 Oponentura https://insis.vse.cz/zp/89336/priloha/31075 Přiloha k práci https://insis.vse.cz/zp/89336/podrobnosti dc:identifier NEPOSILAT VSKP vse89336 250612 89336