There are three purposes in this paper. First, how to classify E-business companies. Second, how well previous value evaluation methods are fitted on E-business companies. Third, how to improve previous value evaluation methods for
E-business companies.
Because of hybrid and multiple business models, it is difficult to distinguish E-business companies. Revenue model, E-business ecosystem, Fortune's classification were investigated, but Fortune's classification were used for examination. For examination of previous value evaluation methods, like PER(Price Earning Ratio), PEGR(Price Eatning Growth Ratio),PSR(Price Sales Ratio), PEGDR(Price Earning Growth Debit Ratio),22cases of U.S.A companies and 17 cases
of korean companies were analyzed. For U.S.A companies, the result of analysis was that PEGR was best method for E-business companies vlaue evaluation. For Korean compenies, the result of analysis was that PEGDR was best method for E-business companies value evaluation. But, for korean companies, the result was not so good. Usually, sales growth rate of profit growth rate is applied to growth factor of PEGR and PEGDR. So, non-financial factors like CEO's quality, business environment, company's technology and level of using exterior sources effecting growth were considerder for korean companies in this paper. The measurement of non-financial variables was surveyed to analysts of korean security companies. The result of value evaluation using additional non-financial factors was better than only considering financial factor like sales growth rate or earning growth rate.
