VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES

Detalhes bibliográficos
Autor(a) principal: Leal, Rodrigo Bonini
Data de Publicação: 2017
Outros Autores: Lopes Santos, David Ferreira [UNESP]
Tipo de documento: Artigo
Idioma: por
Título da fonte: Repositório Institucional da UNESP
Texto Completo: http://hdl.handle.net/11449/165854
Resumo: The aim of this study was to assessment valuation method for to value agribusiness companies. To achieve this goal was made a comparative empirical study of two representative companies in the sector, Sao Martinho Group and JBS, considering financial data for the last three years. The companies were valued according to three methods of valuation: the Valuation Multiples, the Discounted Cash Flow (DCF) and the Real Option Theory (ROT). The results show the Discounted Cash Flow being more efficient in the analysis of the two companies when viewed together, which did not occur when taken separately, where multiple Price/Book Value showed the best performance for the Sao Martinho Group and the Discounted Cash Flow in the JBS case. The TOR was the approach that most attributed value to organizations because of the flexibility of using the abandon option.
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spelling VALUATION METHODS FOR AGROINDUSTRIAL COMPANIESAgribusinessDiscounted Cash FlowInvestmentMultiplesReal Option TheoryThe aim of this study was to assessment valuation method for to value agribusiness companies. To achieve this goal was made a comparative empirical study of two representative companies in the sector, Sao Martinho Group and JBS, considering financial data for the last three years. The companies were valued according to three methods of valuation: the Valuation Multiples, the Discounted Cash Flow (DCF) and the Real Option Theory (ROT). The results show the Discounted Cash Flow being more efficient in the analysis of the two companies when viewed together, which did not occur when taken separately, where multiple Price/Book Value showed the best performance for the Sao Martinho Group and the Discounted Cash Flow in the JBS case. The TOR was the approach that most attributed value to organizations because of the flexibility of using the abandon option.PricewaterhouseCoopers Brasil PwC, Rua D,912 Recreio Int, BR-14094582 Ribeirao Preto, SP, BrazilUniv Estadual Paulista UNESP, Via Acesso Prof Paulo Donato Castellane S-N, BR-14884900 Jaboticabal, SP, BrazilUniv Estadual Paulista UNESP, Via Acesso Prof Paulo Donato Castellane S-N, BR-14884900 Jaboticabal, SP, BrazilEditora Univ Estado BahiaPricewaterhouseCoopers Brasil PwCUniversidade Estadual Paulista (Unesp)Leal, Rodrigo BoniniLopes Santos, David Ferreira [UNESP]2018-11-29T01:07:36Z2018-11-29T01:07:36Z2017-09-01info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article340-361Revista De Gestao Financas E Contabilidade. Bahia: Editora Univ Estado Bahia, v. 7, n. 3, p. 340-361, 2017.2238-5320http://hdl.handle.net/11449/165854WOS:000413895300021Web of Sciencereponame:Repositório Institucional da UNESPinstname:Universidade Estadual Paulista (UNESP)instacron:UNESPporRevista De Gestao Financas E Contabilidadeinfo:eu-repo/semantics/openAccess2021-10-23T14:27:08Zoai:repositorio.unesp.br:11449/165854Repositório InstitucionalPUBhttp://repositorio.unesp.br/oai/requestopendoar:29462021-10-23T14:27:08Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP)false
dc.title.none.fl_str_mv VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
title VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
spellingShingle VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
Leal, Rodrigo Bonini
Agribusiness
Discounted Cash Flow
Investment
Multiples
Real Option Theory
title_short VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
title_full VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
title_fullStr VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
title_full_unstemmed VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
title_sort VALUATION METHODS FOR AGROINDUSTRIAL COMPANIES
author Leal, Rodrigo Bonini
author_facet Leal, Rodrigo Bonini
Lopes Santos, David Ferreira [UNESP]
author_role author
author2 Lopes Santos, David Ferreira [UNESP]
author2_role author
dc.contributor.none.fl_str_mv PricewaterhouseCoopers Brasil PwC
Universidade Estadual Paulista (Unesp)
dc.contributor.author.fl_str_mv Leal, Rodrigo Bonini
Lopes Santos, David Ferreira [UNESP]
dc.subject.por.fl_str_mv Agribusiness
Discounted Cash Flow
Investment
Multiples
Real Option Theory
topic Agribusiness
Discounted Cash Flow
Investment
Multiples
Real Option Theory
description The aim of this study was to assessment valuation method for to value agribusiness companies. To achieve this goal was made a comparative empirical study of two representative companies in the sector, Sao Martinho Group and JBS, considering financial data for the last three years. The companies were valued according to three methods of valuation: the Valuation Multiples, the Discounted Cash Flow (DCF) and the Real Option Theory (ROT). The results show the Discounted Cash Flow being more efficient in the analysis of the two companies when viewed together, which did not occur when taken separately, where multiple Price/Book Value showed the best performance for the Sao Martinho Group and the Discounted Cash Flow in the JBS case. The TOR was the approach that most attributed value to organizations because of the flexibility of using the abandon option.
publishDate 2017
dc.date.none.fl_str_mv 2017-09-01
2018-11-29T01:07:36Z
2018-11-29T01:07:36Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv Revista De Gestao Financas E Contabilidade. Bahia: Editora Univ Estado Bahia, v. 7, n. 3, p. 340-361, 2017.
2238-5320
http://hdl.handle.net/11449/165854
WOS:000413895300021
identifier_str_mv Revista De Gestao Financas E Contabilidade. Bahia: Editora Univ Estado Bahia, v. 7, n. 3, p. 340-361, 2017.
2238-5320
WOS:000413895300021
url http://hdl.handle.net/11449/165854
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv Revista De Gestao Financas E Contabilidade
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 340-361
dc.publisher.none.fl_str_mv Editora Univ Estado Bahia
publisher.none.fl_str_mv Editora Univ Estado Bahia
dc.source.none.fl_str_mv Web of Science
reponame:Repositório Institucional da UNESP
instname:Universidade Estadual Paulista (UNESP)
instacron:UNESP
instname_str Universidade Estadual Paulista (UNESP)
instacron_str UNESP
institution UNESP
reponame_str Repositório Institucional da UNESP
collection Repositório Institucional da UNESP
repository.name.fl_str_mv Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP)
repository.mail.fl_str_mv
_version_ 1799965723911520256

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