Examinando por Materia "VALORACIÓN"

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    Análisis comparativo de los métodos de valoración ´valor contable´ y ´múltiplos´ aplicado a Frisby, Inversiones Int y Grupo CBC
    (2019) Gutiérrez Viveros, Ana María; Castillo Marín, Andrés; Guerra Álvarez, Eduar
    This thesis presents an analysis that seeks to compare two methods of company valuation. For this work, multiples and book value are applied to companies of the sector of limited service chicken restaurants; Frisby, Inversiones INT, and Grupo CBC. Macroeconomic indicators were taken into account for this analysis: sector GDP, total GDP, unemployment, inflation, sector inflation, and the exchange rate. Additionally, this work also analyses financial indicators such as ROIC, ROE and EBITDA. It seeks to measure the relation between macroeconomic and financial indicators on a company’s valuation for the period between 2014 and 2018.
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    Análisis de generación de valor en una empresa del sector agrícola en Manizales
    (Universidad EAFIT, 2023) Toro Bravo, Maria Fernanda; Támara Ayús, Armando Lenin
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    Análisis de generación de valor y estructura de capital de la compañía RBR Textiles S. A. S.
    (Universidad EAFIT, 2024) Suárez Arango, Juliana; Galeano Agudelo, Yurany Sayury; Támara Ayús, Armando Lenin
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    Análisis de impacto de los indicadores de sostenibilidad (ESG) en el valor de las compañías del sector energético en América Latina
    (Universidad EAFIT, 2024) Botero Baena, Alicia; Arango Castillo, María José; Yepes Raigosa, David Alejandro
    This research work analyzed the impact that ESG (Environmental, Social, and Governance) sustainability scores have on the generation of value measured by the proxy “valor” in companies operating in the energy sector in Latin America. The study was conducted using annual information published in a period between 2015 and 2022 and was processed through two types of mathematical regression models: simple linear and panel (OLS, GLS). Macroeconomic, financial, and sustainability variables were included. The goal was to measure the impact that sustainability pillars (environmental, social, and governance) have on the value generation of these companies.
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    Análisis del ratio FCL/ventas como proxy de valor en las empresas del sector automotor colombiano
    (Universidad Eafit, 2020) Soto Restrepo, Yudy Marcela; Sepúlveda Botero, Sergio Andrés; Yepes Raigosa, David Alejandro
    This study analyzes the FCL/sales ratio as a proxy for value in companies in the automotive sector, emphasizing the analysis of value inducers. To carry out the study, we use descriptive and inferential statistics, such as measures of central tendency and t-tests. The t tests allowed to identify the positive relationships of FCL / sales with the Ebitda margin, the Return on Equity and the Return on Assets and a negative relationship with the Productivity of Working Capital and Productivity of Fixed Assets, which was consistent with financial theory and with results obtained by authors such as Milei (2011) and Bastidas (2007), who use other value proxies and value creation such as Tobin's Q and EVA. These results show that the FCL / sales ratio is a proxy that can be used to measure value creation for Colombian companies in the automotive sector.
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    Aplicación de opciones reales a inversiones en proyectos de reforestación
    (Universidad EAFIT, 2019) Gutiérrez Olivares, Nicolás; Parra Gutiérrez, Simón; Pareja Vasseur, Julian Alberto
    This study evaluates the different valuation methodologies for reforestation projects focused on wood production for industrial use. The differences between the traditional discounted cash flow methods and the real options methods are analyzed. In addition to this, the different ways of assessing real options and their application to the final evaluation of a project are investigated. The different methods are applied in a real example of a reforestation project in order to analyze the advantages, disadvantages and quantitative differences of one method over the other. Finally, a valuation model that adapts to different types of reforestation projects is concluded and designed.
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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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    Aplicación de opciones reales para la evaluación de inversión en el sector hidroeléctrico
    (2019) Ortega Gómez, David; Támara Ayús, Armando Lenin; 15051573
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    CANACOL ENERGY LTD.
    (Universidad EAFIT, 2014) Morales Cortés, Angélica Viviana; Ruíz Noble, Benjamín Andrés; Mondragón Trujillo, Luis Fernando
    Una vez realizada la valoración de Canacol Energy Ltd donde se tuvo en cuenta la producción presente y futura de cada pozo y la proyección del costo promedio ponderado de capital se puede afirmar que la acción actualmente se encuentra subvalorada en el mercado -- La afirmación anterior se basa en el crecimiento de la producción entre un 30% y 40% para el año 2014 pasando de una producción de 9.550 a un estimado de 12.441 barriles por día -- Este aumento en la producción es explicado primero, por los nuevos hallazgos de petróleo en los últimos años -es el caso del descubrimiento del pozo Leono que tiene un estimado de producción de 5.500 barriles por día-, y segundo, por la fuerte inversión en activos en el periodo comprendido entre junio de 2013 y junio de 2014 -- La empresa no solo aumentará su producción sino que mejorará considerablemente la utilidad bruta por barril de petróleo (históricamente se obtenía un estimado USD$18.25 por barril mientras que para el 2014 se espera obtener USD$ 36.80), este cambio se debe a una mejora en los costos de producción originada por las inversiones de capital realizadas, al agotamiento de la producción de Rancho Hermoso el cual tenía un bajo netback debido a estar sujeto a tarifa según el contrato de explotación entre Canacol Energy y Ecopetrol y finalmente a un aumento en el precio del petróleo -- Con la implementación de la estrategia de la empresa, la cual está basada en un crecimiento integrado consistente en la perforación, exploración y desarrollo en sus áreas principales, se espera un crecimiento continuo en el número de reservas que a junio de 2013 reportaba un total neto de probadas, probables y posibles igual a49.528mboe
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    CEMEX LATAM HOLDING interpolada de CEMEX COLOMBIA S.A.
    (Universidad EAFIT, 2014) Medina Valois, Juan Miguel; Silva Rodríguez, Ricardo; Hernández Bonet, Álvaro
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    Conocimiento del capital intelectual en las grandes empresas antioqueñas
    (Universidad EAFIT, 2019) Sánchez Garrido, Leonardo; Mesa Velásquez, Gloria Stella; Uribe Correa, Beatriz
    The main changes that have taken place in the world economy involve companies that remain in force in the 21st century. Intellectual Capital is one of the factors that influence as a value inducer that will make them survive in the fourth industrial revolution as a differentiating element, therefore, the objective of this article was introduced in the level of knowledge of "Intellectual Capital". Antioquia companies. The methodology used is a qualitative investigation that uses the descriptive survey for data collection as an instrument. Among the conclusions are the great ignorance about the models of intellectual capital in the market and the correlation between the companies they have and reveal in their annual management report, their intellectual capital and the greater market value of these companies.
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    Creación de una estrategia de extensión de línea como apalancamiento estratégico de la marca El Castillo
    (Universidad EAFIT, 2024) Urrea Parra, María Alejandra; Uribe de Correa, Beatriz Amparo; Londoño Vélez, Natalia
    In 2019, El Castillo brand was created by Distribuidoras Imperial and El Castillo; it is currently known in the antioquian market for the commercialization of food products, toiletries and personal care products. To enhance the growth of the brand and consolidate its position in the market, an extension of the line of grains is intended, incorporating beans and lentils, through a strategic leverage; this, in favor of the constant growth in the market and its future projection. With this in mind, the aim was to build a line extension leverage strategy to boost Distribuidora Imperial's growth and increase its market share in the grain market; to achieve this objective, a mixed methodology was established through which a complete overview of production, consumption and related trends was obtained, and which also provided relevant information from the consumers of the brand and the products of interest. With the information obtained, a value proposition was defined to respond to consumer needs and expectations, and a general strategy was established for the distribution of the new product. This analysis has suggested a suitable environment to carry out the line extension in response to the current demand for the products and the image that consumers have of the brand, since they highlight that, due to its added value, the current proposal is feasible.
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    Desempeño de las fintech desde una metodología de balanced scorecard
    (Universidad EAFIT, 2020) Quintero Márquez, Valeria; Gómez Cardona, Ana María; Ospina Mejia, Jaime Alberto
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    Determinantes de la prima de riesgo entre la deuda soberana y la deuda corporativa en el mercado colombiano: análisis del período 2006-2015
    (Universidad EAFIT, 2015) Cárdenas Méndez, Hania Katina; Mora Cuartas, Andrés Mauricio
    El presente artículo tiene como objetivo identificar, en un período de estudio específico, los determinantes de la prima de riesgo de los títulos de deuda corporativa con respecto a la tasa libre de riesgo, teniendo en cuenta que el margen de negociación entre los activos mencionados se reduce de manera importante en ciertos momentos de mercado -- Para este propósito, se realiza un análisis descriptivo de dos momentos puntuales entre 2006 y 2015 -- Se encontró que la prima de riesgo involucra elementos adicionales al riesgo de crédito y de liquidez y que puede variar en el tiempo, a pesar de que las condiciones del emisor no hayan cambiado -- Por lo anterior se recomienda el análisis y el seguimiento del conjunto de determinantes de la prima de riesgo por parte de analistas, emisores e inversionistas para la toma de decisiones con el propósito de explicar comportamientos del mercado de deuda corporativa local
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    Evaluación financiera de proyecto de comercialización internacional de aguacate a través de la aplicación de opciones reales
    (2019) Restrepo Sarmiento, Mateo; Pareja Vasseur, Julián Alberto
    The objective of this work is to identify the impacts in terms of value when evaluating projects where management's flexibility or decision making is present. For this purpose, the evaluation of an industrial project, dedicated to Hass avocado processing, using traditional methods of valuation with NVP criteria was defined as a methodology. Then binomial trees were built to evaluate the real options of expansion, abandonment and choice complementing the initial assessment. The results indicate that both methods complement each other and that the presence of flexibility and reaction to changes in uncertainty variables represent a portion of additional value in the evaluation of projects. The motivation of the work lies in demonstrating how the concepts of value can be limited by assuming the passivity of the project managers and how strategic factors are ignored.
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    Evaluación financiera para el desarrollo del mercado de API en BBVA Colombia.
    (Universidad EAFIT, 2019) Cortes Rey, Johan Darío; Medina Cuevas, Sonia Elizabeth; Mejía Villa, Jose Fernando
    The development of BBVA Colombia API ́s Market, it ́s needed to line up the BBVA goal ́s about the open banking strategy, this goals are focused in the main worldwide purpose of the bank that is “to bring the age of opportunity to everyone” (BBVA, 2019), trough six strategic priorities: the best user experience, digital sales, new business models, optimization of asset allocation, leadership in efficiency and the best team. Based on the above, this thesis looks forward to perform a financial evaluation to determine the viability of the development of the API ́s Market in BBVA Colombia and its capacity to shape its strategic priorities into something that is as tangible as has been done in México, USA and Spain.
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    Evolución de la estructura de costos de las cámaras de comercio de Colombia frente a su generación de valor
    (Universidad EAFIT, 2024) Anacona Gómez, Yisel Alejandra; Valencia Ordoñez, Edwin René; Orozco Álvarez, Jorge Eduardo
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    Evolución estratégica de Celsia y su impacto en el desempeño financiero y generación de valor
    (Universidad EAFIT, 2024) Gómez Rodríguez, Daniel Mauricio; Puentes García, Carolina; Álzate Naranjo, Miguel Ángel; Vidarte González, Juan José; Velásquez Mejía, María Adelaida
    Taking into account the strategic relevance of Celsia's investment and divestment decisions, this article aims to assess the financial impact of its strategic evolution on value creation. This is achieved through an in-depth analysis of the strategic changes Celsia has undergone, which have been accompanied by inorganic growth through investments and divestments (M&A). The methodology used is a case study, utilizing data from articles, reports, financial statements, news, and interviews with company executives. It is found that the strategic direction has been influenced by three rationales: investment and divestment (M&A), consolidation and expansion of the energy operating business, and transformation towards becoming an asset manager. This analysis allows us to conclude that the strategic decisions made by Celsia throughout its history have positively impacted the company's value creation for the evaluated period from 2007 to 2023.
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    Formulación del mapa de riesgos operacionales en el proceso de promoción y fomento del deporte, la recreación y la actividad física (DRAF) en el ÍNDER Medellín
    (Universidad Eafit, 2020) García Ramírez, Laura; Giraldo Sierra, Viviana Marcela; Vela Martínez, Freddy Gustavo; Giraldo Hernández, Gina María
    In this degree work, the map of operational risks of the process of promotion and promotion of sport, recreation and physical activity is formulated for the National Institute of Sports, Physical Education and Recreation, ÍNDER, an entity attached to the municipality of Medellin. For this, an approach was made to the concepts that underlie this construction: risk, types of risk, context setting, valuation, identification, analysis, evaluation, treatment and risk maps. Additionally, a review of the legal and regulatory component governing public entities in this area was made and some of the methodologies were studied; in the case of this exercise, the steps established in ISO 31000:2018 were developed. The results indicate that 66.67% of the operational risks found in the process have an extreme severity level, 22.22% a high level and 11.11% a moderate level. The proposed controls focused on the selection of professionals and technicians who have contractual obligations related to these activities. Additionally, alliances with other municipal secretariats, the design and improvement of protocols for the care and custody of institutional assets and the digital security of the documentation associated with the process were analyzed. Finally, improvement actions were proposed in pre-contractual matters with the elaboration of material and logistics data sheets, and in the contractual execution in supervision matters. Keywords: Context setting, risk process activities, risk map, ISO 31000:2018, ÍNDER.