Ranking the Appropriate Methods for Valuation of Biotechnologies: Fermentation Area

Document Type : Research Paper

Authors

1 Faculty member, Departement of Technology Development Studies (DTDS), Iranian Research Organization for Science and Technology (IROST), Tehran, Iran.

2 PhD Candidate of Science and Technology Policy, Faculty of Management, University of Tehran, Tehran, Iran

3 PhD Candidate of Technology Management, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran.

Abstract

One of the factors that determines which technology valuation method should be selected, is the set of special features of that technology in point and the context around it. This paper aims to identify technology valuation methods in the field of fermentation within the field of biotechnology as an important and widely used technology and rank the valuation techniques for them accordingly. The research methodology is based on a survey carried out and the data collection methods are interviews and distribution of questionnaires. After reviewing the literature, the paper presents its findings which shows 36 indicators identified as key indicators affecting the selection of appropriate technology valuation methods. These indicators are categorized in organizational policies, political and legal environment, and market and industry characteristics, as well as technology features category. Then, the technology valuation methods are ranked within the field of fermentation, by using the questionnaires of the TOPSIS decision-making model completed by technology management experts. The results show that "binomial model," "bargaining power," "Black Scholes" and "market-oriented" are, respectively, the foremost appropriate methods for technology valuation within the field of fermentology.

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References

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Journal of Technology Development Management
Volume 8, Issue 4
March 2021
Pages 169-196

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History

  • Receive Date: 12 February 2020
  • Revise Date: 04 January 2021
  • Accept Date: 02 February 2021

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