The discount rate in the business valuation processan empirical study in Colombia

  1. Alfonso Rojo Ramírez
  2. César Augusto Palomino Rubio
  3. Domingo García Pérez de Lema
  4. José Domingo González Benítez
  5. Jose Zacarias Mayorga Sanchez
  6. Miguel Antonio Alba Suárez
Revista:
Small Business International Review

ISSN: 2531-0046

Año de publicación: 2019

Volumen: 3

Número: 1

Páginas: 19-35

Tipo: Artículo

DOI: 10.26784/SBIR.V3I1.145 DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: Small Business International Review

Resumen

Firms' valuation is an increasingly important activity in a globalized context with more dynamic and internationalized companies in search of value creation. Internationalization is increasingly affecting developing countries that are forced to deal with international M&A and the requirements of their increasingly specialized partners, such as is the case of Colombia. Normally, the use of ad-hoc update rates is required in the process. The main goal of this work is to increase our knoledge ion the use of the discount rate in the business valuation activity in Colombia. For this purpose, an exploratory study based on a survey of 32 Colombian experts in business valuation is included. Our main conclusions reveal that Colombian experts behave similarly to international valuers, although there is a large dispersion in the estimation of the discount rate. In this way, the research carried out can be of interest not only for professionals but also for academics and managers who participate in this process to offer information about the Colombian reality in an international context

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  • This publication is licensed under a Creative Commons Attribution-NonCommercialShareAlike 4.0 International License (CC BY-NC-SA 4.0)
  • Copyright © 2019 Alfonso A. Rojo Ramírez, César Augusto Palomino Rubio, Domingo García Pérez de Lema, José Domingo González Benítez, José Zacarías Mayorga y Miguel Antonio Alba Suarez
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