Examinando por Materia "Tasas de descuento"
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Ítem APV y CCF: el pronóstico de los ingresos y el valor de las empresas(Universidad EAFIT, 2017) De Vivero Pérez, Héctor José; Correa Lafaurie, Luisa FernandaIn the present paper a model for valuing companies under conditions of risk and uncertainty from the revenues is structured -- The forecast of the revenues is one of the most important elements in the result of the assessment of any business -- Based on the existing approaches for discount cash flows, specifically of the Adjusted Present Value (APV) and the Capital Cash Flow (CCF), a valuation model expressing the cash flows as a function of future revenues is formulated -- The tax shield is also linked to revenues through measures of leverage or coverage, to derive a single equation that allows you to calculate the value of the company from the revenue forecast -- In the case of companies at risk for the forecast of revenues its probability distribution parameters are estimated based on historical records and appropriate regression analysis -- The proposed model is validated with the evaluation of a group of gas stationsÍtem ¿Cómo determinar el valor real de una microempresa?(Universidad EAFIT, 2017) Téllez Rubiano, JulioMicro companies in Latin America and Colombia have demonstrated to be a great contributor to the country’s sustainability and growth, just as the way they support work generation, as it can be evidenced in data given by DANE and CEPAL -- No matter the importance they have, it is noticeable their minimum access to financial markets as well as the little importance they are given at the moment of being sold -- There are no studies that can determine the value of micro companies when they are offered in the market so, this work intends to provide with a fair value of micro companies that allow determine if companies offered in Bogotá on electronic media such as OLX, newspapers and websites, if the requested price is related to the fair value or fundamental value -- This net worth model can be useful to possible investors or futures buyers since they can have an estimated cost of the company he/she intends to buy is what it is expected or if the cost established by the offeror is fairÍtem Reporte Burkenroad: Ecopetrol S. A.(Universidad EAFIT, 2018) Patiño Porras, Hugo Leonardo; Romero Ruiz, César Rolando; Pareja Vasseur, JuliánÍtem Valoración de la empresa Ciles S.A.S.(2018) Vieco Zapata, María Elisa; Restrepo Barth, SimónWith the economic opening, Colombia began to participate in worldwide markets and has reached new business opportunities and met new competitors -- Nevertheless, to be part of a worldwide market is essential to speak the same language between the interested parties -- The objective of this thesis is to determine the enterprise value of Ciles S. A. S., a Colombian company from the industrial sector which offers a portfolio of electric equipment, by applying the method of discounted cash flow to the firm -- To value this company, it is important to make an economic analysis of the industrial sector, forecast the financial statements and discount the forecasted cash flows to present value by using as discount rate the weighted average cost of capital -- The result of this analysis is the estimated intrinsic value of equity of Ciles S. A. S. based on its strategic planning and goals, and also acknowledged potential value driversÍtem Valoración de una Start-Up para empresarios no diversificados: El caso del Criadero Ovino Canaima, en Colombia(2018) Cortés Zambrano, Óscar Fernando; Molina Meza, Rodolfo Miguel; Gaitán Riaño, Sandra ConstanzaThe Latin-American market is mostly made up of entrepreneurs whose investments are concentrated in a unique investment project -- This condition of non-diversified investor supposes an important challenge when the project’s discount rate is going to be estimated -- Similarly, Latin-American economies have been catalogued as emerging ones, which suppose an additional challenge to the project valuation exercise due to, among other aspects, its capital markets characteristics -- One of them, which prevails not only besides of the Southern Cone, but also in most of emerging countries, is the impossibility to find twin assets that allows the estimation of the idiosyncratic risk of the investment project -- The valuation exercise of the investment project Criadero Ovino Canaima will be developed considering the non-diversified investor approach -- Based on this scheme, are estimated variables such the discount rate, that reflect the inherent risk of the investment project, in order to make available to the entrepreneur-investor the tools that makes easier the project taking decision process