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Payback period and accounting rate of return
2017Jill Collis, Andrew Holt, Roger Hussey
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Startup valuation remains among the most contested problems in finance, owing to absent or negative near-term earnings, extreme uncertainty, and the circularity embedded in the dominant practitioner heuristic: peer-group multiples used to set entry price, followed by DCF reverseengineering to produce post-hoc justification.
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