Examinando por Materia "Adjusted Present Value (APV)"
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Ítem Análisis del impacto del escudo fiscal, su incidencia en el valor de las empresas y su estructura de capital: Casos Ecopetrol S.A. y Grupo Nutresa S.A.(Universidad EAFIT, 2018) Estupiñán García, Alexandra; Vargas Ramírez, Andrea Marcela; Sánchez Ribero, Gustavo AlbertoRecently, the Colombian government issued the Law 1819 of 2016, in which the structural tax reform was formalized, that has a direct affects the financial performance of the country's companies, given that the taxes to be paid have a direct impact on the companies' financial management -- In this sense, the objective of the present document is to develop, through a case study, the analysis of the companies Ecopetrol S.A. and Grupo Nutresa S.A., with regard to the impact that fiscal conditions may have on the indebtedness decisions of companies, their impact on the economic value and capital cost of it -- The propositions of Modigliani and Miller are taken as a conceptual framework to understand what should be the optimal financial structure of a company and what should be the key objectives in the acquisition of debt, taking into account the existence of the costs of financial difficultiesÍtem Opciones reales como estrategia de generación de valor para inversionistas en proyectos APP(Universidad EAFIT, 2018) Aristizábal Isaza, María Camila; Restrepo Tobón, Diego AlexanderClosing the infrastructure gap in Latin America is one of the region's biggest challenges -- The structuring of projects through public-private partnerships is one of the tools we have today to involve the private sector and achieve the level of investment required in the region -- The long-term nature of this type of contracts increases the risk and makes the project’s bankability difficult due to the high degree of uncertainty associated -- Private investors require guarantees that mitigate these risks but the public sector is not willing to take more risks than necessary by compromising future period’s resources through government guarantees -- The real options are presented as a tool to provide flexibility in the projects in such a way that risks can be molded and mitigated as new information is presented to the investor -- This paper presents a case study comparing the financial viability of an infrastructure project valued only according to the criterion of net present value with respect to a scenario that includes real options that generate flexibility for the investorÍtem Reporte financiero Burkenroad / Latinoamérica – Colombia / Cemex Latam Holdings S.A.(Universidad EAFIT, 2018) Aguirre Pérez, Evelyn; García García, Andrea; Gaitán Riaño, Sandra Constanza; Restrepo Barth, SimónÍtem Reporte Financiero Burkenroad / Latinoamérica – Colombia / Organización TERPEL S.A. BVC/TPL(2018) Ortiz González, Ángela María; Arrubla Gómez, Natalia; Restrepo Barth. Simón; Gaitán Riaño, Sandra ConstanzaÍtem Valoración de la empresa Lácteos Buenavista Sabores Naturales S.A.S.(Universidad EAFIT, 2018) Granda Cardona, Juan Felipe; Ponnefz Díaz, Marianela; Támara Ayús, Armando LeninLácteos Buenavista Sabores Naturales SAS is a company from Antioquia dedicated to the artisan elaboration and commercialization of dairy products, with more than ten years in the market, has established itself as a company recognized for its innovation at regional and national level -- For a clearer view of the business, it is necessary to carry out a valuation in order to estimate the fair value of the company, incorporating various economic, environmental and social factors -- To achieve this objective, the dairy sector in Colombia is detailed, and the financial information and business environment of the company between 2013 and 2017 are analyzed -- Based on this information, the ten-year financial statements are projected and the valuation assumptions are subsequently designed and implemented -- Once this structure had been completed, the company was valued using the discounted free cash flow method and APVÍtem Valoración financiera de la empresa Empaques del Cauca S. A. a través de la aplicación de los modelos de valoración Adjusted Present Value y flujo de caja libre con WACC tradicional(Universidad EAFIT, 2018) Valencia Cuevas, Lizette Patricia; Yasnó López, Christian Mauricio; Támara Ayús, Armando LeninThis work was developed through the application of financial valuation to the company Empaques del Cauca S.A., a company in the industrial sector whose economic activity is the production of fique and polifique sacks, with a long history and contribution to the Cauca economy -- The exercise was carried out through a methodology composed of five (5) processes: Review of the theoretical framework for the identification of the main references for the valuation, elaboration of the diagnosis through the application of Strategic, accounting, financial and prospective analysis, projection of financial statements based on historical data from the period of 2012 to 2016 and projected to 2026 through methods of absolute variation and based assumptions based on the analyzes performed -- Application of the methods of financial valuation Adjusted Value Present - APV and free cash flow with traditional WACC, highlighting the impact of the WACC and particularly the leverage, as well as the operational value and the total of the company, and finally the analysis of the sensitivity for the subsequent generation and recommendations that allow the company to improve its operation