Una alternativa multicriterio a la valoración de empresas: aplicación a las Cajas de Ahorro
In several occasions the traditional valuation methodologies present difficulties in their application to the companies� valuation, either due to valuator�s lack of enough data to use in the traditional comparative methods, or due to the difficulty when estimating the future cash-flows with objectiv...
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| Autores principales: | , , |
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| Formato: | Artículo |
| Lenguaje: | español |
| Publicado: |
Asociación Española de Economía Aplicada, ASEPELT
2011
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| Materias: | |
| Acceso en línea: | https://dialnet.unirioja.es/servlet/oaiart?codigo=3656570 |
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| Sumario: | In several occasions the traditional valuation methodologies present difficulties in their application to the companies� valuation, either due to valuator�s lack of enough data to use in the traditional comparative methods, or due to the difficulty when estimating the future cash-flows with objectivity. In this situation, the present study suggests an alternative which combines the CRITIC multicriteria methodology with the Valuation Ratio of the International Standards of Valuation. The new methodology is included in the comparative or market approach methods and it only requires having at its disposal a small number of comparable companies. In this work this methodology is applied to get the value of a savings bank. The valuation of this kind of financial institutions, due to the current situation of the sector, implies a task of great interest and it also constitutes a very illustrative example to show the strengths of the proposed methodology. |
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