Examinando por Materia "Opciones Reales"

Mostrando 1 - 5 de 5
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    Aplicación de opciones reales en proyectos de infraestructura vial : caso de inversión Odinsa
    (Universidad EAFIT, 2019) Bernal Gaviria, Santiago; Calderón Villegas, Martín
    Very often the valuations of projects carried out by professionals in finance are elaborated through methodologies that assume a single deterministic decision; some examples of these are the cash flow discount and the calculation of the internal rate of return (IRR). These practices have little room for maneuver and important strategic decisions are made (Cifuentes & Espinoza, 2016). However, the application of dynamic models such as real options has allowed greater flexibility in the modeling of financial scenarios and have become a tool much more in line with the variable environments of business (Mun, 2002). This situation imposes new legal and financial challenges to the Government and private investors, so that incoming infrastructure projects can be executed under the regulatory framework of public-private partnerships (PPP), generating economic and financial value and complying with technical standards required. The present work aims to implement the real options assessment methodology to the road infrastructure sector through an exercise applied to a real investment case of the International Engineering Organization SA, Odinsa, in the participation of a public-private initiative. Using this methodology, we can quantify the value hidden in the volatility of the project associated with demand risk. The results obtained, in addition to going in line with the generation of economic value, generate value for the company and give it additional elements to make informed investment decisions. Likewise, the real options become a tool that provides managers with greater bargaining power and flexibility vis-à-vis different actors in a process of assessment of road infrastructure projects.
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    El papel de las opciones reales en la valoración de una mina de cobre
    (Universidad EAFIT, 2019) Restrepo Giraldo, Santiago; Quiroz Mora, Alonso Elías; Tamara Ayus, Armanado Lenin
    The mining sector is characterized by the existence of projects that have operational and administrative flexibility, due to the high volatility of external factors that affect the development of these projects. The appropriate methodology for evaluating this type of project is the real options since it includes the value of the flexibility in the final value of the project. In the valuation of the copper mining project, the binomial tree method is used to analyzed and valued the option of temporary closure of the mine in five periods. The result of the valuation shows that when assessing the project by this method, the value of the project in the zero period increased 10.12% with respect to the calculation made by the net present value methodology, showing the importance of valuing through real options to maximize the total value of mining projects.
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    Estructuración de garantías reales no tradicionales, basadas en la valoración de marcas para empresas del sector farmacéutico con fines de acceso a financiación
    (Universidad EAFIT, 2021) Patiño Gutiérrez, Gustavo Adolfo; Moreno Ávila, Luis Fernando; Sánchez Ribero, Gustavo Alberto
    In this document, a brand valuation methodology is developed to structure non-traditional real warranties, in order to be taken into account as financial assets in the management of company financing, as it is one of the most important assets in this case, for the pharmaceutical sector and funders. The valuation of brands requires the use of specialized methodologies such as real options, managing uncertainty and its intangibility as the basis of its value, which in practice is very useful for its implementation, allowing through brands to support operations of credit with financial institutions or other sources of financing, to improve the capital structure of these companies.
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    Evaluación financiera de proyectos de innovación basada en opciones reales
    (Universidad EAFIT, 2011) Kepes Bustamante, Alejandro; Quintero Ramírez, Santiago
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    Identificación de los factores relevantes para la valoración financiera de empresas emergentes con base en el enfoque de opciones reales y de acuerdo con el modelo de comunidades digitales de microfinanciación colectiva (crowdfunding)
    (Universidad EAFIT, 2019) Otero Cano, Carlos Andrés; Acero Joya, Félix Edilson; Vergara Garavito, Judith Cecilia
    Today there are digital platforms that offer financial support to initiatives that combine technology and finance. These ventures are called Fintech and obtain their funds by creating digital communities known globally as Crowdfunding. Each initiative has some degree of risk and uncertainty both for those who do the funding and for the creators of startups as they are known. The Fintech projects inherently carry regulatory and technical as well as economic uncertainties (Lee & Lee, 2015), which is why it is necessary to assess them in the correct way. Consequently, the interest of this work is focused on the financial valuation model of these initiatives, identifying all those determining factors to be valued financially within a nascent digital community.