TY - JOUR 
A1 - Mate Sánchez-Val, María Luz
AU - Occhino, Paolo
T1 - Propuesta para estimar la valoración de pequeñas y medianas empresas mediante el uso de información geográficamente comparable

Y1 - 2020
SN - 2531-0046
UR - http://hdl.handle.net/10317/8336
AB - [ENG] A common prerequisite in valuation analysis is the availability of temporal information on financial variables. Nevertheless, reduced size companies-representing more than 98% on current productive systems- fail to have available temporal information to estimate valuations. In this paper, we offer a procedure for estimating reduced size companies’ values under the hypothesis that spatial behaviour matters for valuations. With this aim, we present the theoretical background for this hypothesis and introduce a spatial proposal with a case study of industrial companies where the significant role of space on firms’ valuations is previously tested. This analysis shows the relevance of spatial information in firms’ valuation confirming the predictive capability of our approach applying the out of sample methodology.

KW - Economía Financiera y Contabilidad
KW - Location
KW - Company valuation
KW - Geographically comparable companies
KW - Discounting cash flows model
KW - Small and Medium Enterprises (SMEs)
KW - Localización
KW - Valoración de empresas
KW - Empresas geográficamente comparables
KW - Modelo de descuento de flujos de efectivo
KW - Pequeña y mediana empresa (Pyme)
KW - 5311 Organización y Dirección de Empresas
KW - G12
KW - R12
KW - R51
LA - eng
LA - spa
PB - AECA (Asociación Española de Contabilidad y Administración de Empresas)
PB - Universidad Politécnica de Cartagena
ER -