Just value of the Tactebel energy: an valuation from the main models of pricing asset
Autor(a) principal: | |
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Data de Publicação: | 2010 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista de Ciências da Administração |
Texto Completo: | https://periodicos.ufsc.br/index.php/adm/article/view/2175-8077.2010v12n26p11 |
Resumo: | This study aimed to determine the current fair value of Tractebel Energia, from the main asset pricing models. The company was taken as the object due to its stable growth and the ease of obtaining data, since it is located in the city of Florianopolis. Nevertheless, the volatility in its shares has been priced aroused interest. Therefore, this study intended to provide subsidy for the decision making of investors regarding the purchase or sale of company stock. For this, the theoretical treat on the concept of asset valuation and the main models available, emphasizing their applications and limitations, which are: assessment book on, discounted dividend model and discounted cash flow. Regarding the methodological aspect, the research fits into exploratory, descriptive, highly quantitative field study and case. Moreover, it was made use of desk research, literature, interview and program Economática. Thus, the analysis of data initially sought to raise the assumptions demanded by each of the models surveyed ad apply them. The results were then compared and adjusted so that there is consistency. He was later adopted an arithmetic mean to assign a fair value to the company. From this average was defined as an acceptance range, depending on the variability of results and uncertainty in the estimates. |
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Just value of the Tactebel energy: an valuation from the main models of pricing assetValor justo da Tractebel Energia: uma avaliação a partir dos principais modelos de precificação de ativosThis study aimed to determine the current fair value of Tractebel Energia, from the main asset pricing models. The company was taken as the object due to its stable growth and the ease of obtaining data, since it is located in the city of Florianopolis. Nevertheless, the volatility in its shares has been priced aroused interest. Therefore, this study intended to provide subsidy for the decision making of investors regarding the purchase or sale of company stock. For this, the theoretical treat on the concept of asset valuation and the main models available, emphasizing their applications and limitations, which are: assessment book on, discounted dividend model and discounted cash flow. Regarding the methodological aspect, the research fits into exploratory, descriptive, highly quantitative field study and case. Moreover, it was made use of desk research, literature, interview and program Economática. Thus, the analysis of data initially sought to raise the assumptions demanded by each of the models surveyed ad apply them. The results were then compared and adjusted so that there is consistency. He was later adopted an arithmetic mean to assign a fair value to the company. From this average was defined as an acceptance range, depending on the variability of results and uncertainty in the estimates. O presente estudo teve como objetivo definir o atual valor justo da Tractebel Energia, a partir dos principais modelos de precificação de ativos. A empresa objeto foi tomada como base em função de seu crescimento estável e da facilidade de se obter dados, uma vez que é sediada na cidade de Florianópolis. Não obstante, a volatilidade com que suas ações têm sido precificadas despertou interesse. Com isso, este estudo pretendeu fornecer subsídio para a tomada de decisão de investidores, no que diz respeito à compra ou venda das ações da empresa. Para tanto, a fundamentação teórica tratou sobre o conceito de avaliação de ativos e dos principais modelos disponíveis, ressaltando suas aplicações e limitações, os quais são: avaliação contábil, relativa, modelo de dividendo descontado e fluxo de caixa descontado. No que tange ao aspecto metodológico, a pesquisa se enquadra em exploratória, descritiva, eminentemente quantitativa, estudo de campo e de caso. Além disso, fez-se uso de investigação documental, bibliográfica, entrevista e do programa Economática. Com isso, a análise de dados procurou inicialmente levantar as premissas demandadas por cada um dos modelos analisados e aplicá-los. Os resultados obtidos foram então comparados entre si e ajustados, para que houvesse uma coerência. Posteriormente foi adotada uma média aritmética para se atribuir um valor justo à empresa. A partir desta média definiu-se um intervalo de aceitação, em função da variabilidade dos resultados e da incerteza nas estimativas.Universidade Federal de Santa Catarina2010-01-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/otherapplication/pdfhttps://periodicos.ufsc.br/index.php/adm/article/view/2175-8077.2010v12n26p1110.5007/2175-8077.2010v12n26p11Revista de Ciências da Administração; V. 12, n. 26, janeiro/abril de 2010; 11-472175-80771516-3865reponame:Revista de Ciências da Administraçãoinstname:Universidade Federal de Santa Catarina (UFSC)instacron:UFSCporhttps://periodicos.ufsc.br/index.php/adm/article/view/2175-8077.2010v12n26p11/17401Campos, RenatoVital, Juliana TatianeMoritz, Gilberto de OliveiraCosta, Alexandre Marinoinfo:eu-repo/semantics/openAccess2022-11-21T14:12:52Zoai:periodicos.ufsc.br:article/14060Revistahttp://www.periodicos.ufsc.br/index.php/admPUBhttps://periodicos.ufsc.br/index.php/adm/oairevista@cse.ufsc.br||mfpcris@gmail.com||rca.cse@contato.ufsc.br2175-80771516-3865opendoar:2022-11-21T14:12:52Revista de Ciências da Administração - Universidade Federal de Santa Catarina (UFSC)false |
dc.title.none.fl_str_mv |
Just value of the Tactebel energy: an valuation from the main models of pricing asset Valor justo da Tractebel Energia: uma avaliação a partir dos principais modelos de precificação de ativos |
title |
Just value of the Tactebel energy: an valuation from the main models of pricing asset |
spellingShingle |
Just value of the Tactebel energy: an valuation from the main models of pricing asset Campos, Renato |
title_short |
Just value of the Tactebel energy: an valuation from the main models of pricing asset |
title_full |
Just value of the Tactebel energy: an valuation from the main models of pricing asset |
title_fullStr |
Just value of the Tactebel energy: an valuation from the main models of pricing asset |
title_full_unstemmed |
Just value of the Tactebel energy: an valuation from the main models of pricing asset |
title_sort |
Just value of the Tactebel energy: an valuation from the main models of pricing asset |
author |
Campos, Renato |
author_facet |
Campos, Renato Vital, Juliana Tatiane Moritz, Gilberto de Oliveira Costa, Alexandre Marino |
author_role |
author |
author2 |
Vital, Juliana Tatiane Moritz, Gilberto de Oliveira Costa, Alexandre Marino |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Campos, Renato Vital, Juliana Tatiane Moritz, Gilberto de Oliveira Costa, Alexandre Marino |
description |
This study aimed to determine the current fair value of Tractebel Energia, from the main asset pricing models. The company was taken as the object due to its stable growth and the ease of obtaining data, since it is located in the city of Florianopolis. Nevertheless, the volatility in its shares has been priced aroused interest. Therefore, this study intended to provide subsidy for the decision making of investors regarding the purchase or sale of company stock. For this, the theoretical treat on the concept of asset valuation and the main models available, emphasizing their applications and limitations, which are: assessment book on, discounted dividend model and discounted cash flow. Regarding the methodological aspect, the research fits into exploratory, descriptive, highly quantitative field study and case. Moreover, it was made use of desk research, literature, interview and program Economática. Thus, the analysis of data initially sought to raise the assumptions demanded by each of the models surveyed ad apply them. The results were then compared and adjusted so that there is consistency. He was later adopted an arithmetic mean to assign a fair value to the company. From this average was defined as an acceptance range, depending on the variability of results and uncertainty in the estimates. |
publishDate |
2010 |
dc.date.none.fl_str_mv |
2010-01-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/other |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://periodicos.ufsc.br/index.php/adm/article/view/2175-8077.2010v12n26p11 10.5007/2175-8077.2010v12n26p11 |
url |
https://periodicos.ufsc.br/index.php/adm/article/view/2175-8077.2010v12n26p11 |
identifier_str_mv |
10.5007/2175-8077.2010v12n26p11 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://periodicos.ufsc.br/index.php/adm/article/view/2175-8077.2010v12n26p11/17401 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Federal de Santa Catarina |
publisher.none.fl_str_mv |
Universidade Federal de Santa Catarina |
dc.source.none.fl_str_mv |
Revista de Ciências da Administração; V. 12, n. 26, janeiro/abril de 2010; 11-47 2175-8077 1516-3865 reponame:Revista de Ciências da Administração instname:Universidade Federal de Santa Catarina (UFSC) instacron:UFSC |
instname_str |
Universidade Federal de Santa Catarina (UFSC) |
instacron_str |
UFSC |
institution |
UFSC |
reponame_str |
Revista de Ciências da Administração |
collection |
Revista de Ciências da Administração |
repository.name.fl_str_mv |
Revista de Ciências da Administração - Universidade Federal de Santa Catarina (UFSC) |
repository.mail.fl_str_mv |
revista@cse.ufsc.br||mfpcris@gmail.com||rca.cse@contato.ufsc.br |
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1789435141325586432 |