Product Description

Human genomics, proteomics, robotics, nanotechnology, fractals, ecoforming, global information networks, telemedicine — the list goes on and on. These are the exciting new sciences that will propel our next technology boom. Each creates value from novel, vast, and complex bodies of knowledge. Each demands an array of business models predicated on the knowledge economy. At present, only a handful of experts in their respective areas even understand these sciences; and only a fraction of these experts have either the inclination or the insight to create viable businesses from these knowledge-intensive technologies.

The collapse of dot-com stock prices left the investment community wondering how they could have got Internet stock values so wrong. Yet relatively “simple” Internet technology pales next to the hyperintelligent computing, complex interactions, and enormous databases seen in genomics, proteomics, and other emerging technologies.

This book identifies the four major trends in business and economics that are emerging in the knowledge economy, and describes how each has changed the simple accounting for wealth and value creation to a complex economics of knowledge. The last part of the book lays out the framework and challenges facing a new science of valuation for knowledge-intensive businesses that will help investors, managers and advisors separate the future giants of the knowledge economy from their failed contemporaries.

Product Details

• Amazon Sales Rank: #655762 in Books
• Published on: 2001-12-14
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 300 pages

From the Back Cover
Human genomics, proteomics, robotics, nanotechnology, fractals, ecoforming, global information networks, telemedicine ? the list goes on and on. These are the exciting new sciences that will propel our next technology boom. Each creates value from novel, vast, and complex bodies of knowledge. Each demands an array of business models predicated on the knowledge economy. At present, only a handful of experts in their respective areas even understand these sciences; and only a fraction of these experts have either the inclination or the insight to create viable businesses from these knowledge-intensive technologies.

The collapse of dot-com stock prices left the investment community wondering how they could have got Internet stock values so wrong. Yet relatively ?simple? Internet technology pales next to the hyperintelligent computing, complex interactions, and enormous databases seen in genomics, proteomics, and other emerging technologies.

This book identifies the four major trends in business and economics that are emerging in the knowledge economy, and describes how each has changed the simple accounting for wealth and value creation to a complex economics of knowledge. The last part of the book lays out the framework and challenges facing a new science of valuation for knowledge-intensive businesses that will help investors, managers and advisors separate the future giants of the knowledge economy from their failed contemporaries.

About the Author
Professor Westland graduated with a Ph.D. in Computers & Information Systems from the University of Michigan. Prior to joining academia, he was Database Manager and Corporate Security Management at Rockwell International, Dallas, USA. He has written two books – Global Electronic Commerce: Theory and Case Studies (Nov 1999, MIT Press) and Information Technology Risk: A Guide for Accountants and Auditors (forthcoming, Hong Kong Society of Accountants).

Customer Reviews

Andersen partners -- must read!
This is a courageous and insightful book which should be required reading for all Big-5 accountants. Westland shows how the breakdown in accounting's ability to deal with the new economy undermines investment decisions, and fosters an environment of skepticism and deceipt.

Innovative survey of finance in the information age
The book is written in an engaging style, and surveys current strengths and shortcomings in the tools of financial analysis when applied to technology stocks. At points, the mathematics are complex, but only as much as he needs to state his case. I think Westland's explanations of the way technology companies are different than industrial firms are accurate. They provided me with insights that I have not seen anywhere else. The book falls short in describing how to value technology stocks, which is a weakness. On the other hand, there is enough new material in the book to make it worth its price

Well argued prerequisite for Financial Dynamics
Dr. Westland's book Valuing Technology provides unique explanations for the dot-com bubble, and for the chaos in tech markets. Both this and his sequel, Financial Dynamics offer important contributions to the study of investment valuation