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Structure for the valuation of franchises: Approach through real options [Estructura para la valoración de franquicias: aproximación mediante opciones reales]

dc.contributor.authorDenis C.A.R
dc.contributor.authorEstrada U.Q
dc.contributor.authorGómez L.F.M
dc.contributor.authorSepúlveda-Aguirre J.
dc.date.accessioned2023-10-24T19:26:08Z
dc.date.available2023-10-24T19:26:08Z
dc.date.created2022
dc.identifier.issn1861042
dc.identifier.urihttp://hdl.handle.net/11407/8123
dc.description.abstractThe franchise has been used as an expansion strategy, based on Know-how and the brand, which allows both the entrepreneur and the franchisor to obtain an economic benefit from said intangible assets. This work proposes a structure for the valuation of franchises using real options for three Colombian companies from different economic sectors, based on historical information from their Financial Statements, as well as market information to determine the cost of capital in order to discount cash flows. Future cash, the real option as a complement to the traditional valuation models allows, through binomial trees, to incorporate the uncertainty in the cash flows in order to estimate under simulations the royalty rate and the Initial franchise fee according to the conditions and performance of the sector. © 2022 Universidad Nacional Autonoma de Mexico. All rights reserved.eng
dc.language.isospa
dc.publisherUniversidad Nacional Autonoma de Mexico
dc.relation.isversionofhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85133651279&doi=10.22201%2ffca.24488410e.2022.2938&partnerID=40&md5=dbf7e029295bf80aade9bd7127640e0b
dc.sourceContad. Adm.
dc.sourceContaduria y Administracioneng
dc.subjectFranchisingeng
dc.subjectIntangible asseteng
dc.subjectMontecarlo simulationeng
dc.subjectReal optionseng
dc.subjectValuationeng
dc.titleStructure for the valuation of franchises: Approach through real options [Estructura para la valoración de franquicias: aproximación mediante opciones reales]eng
dc.typeArticle
dc.rights.accessrightsinfo:eu-repo/semantics/restrictedAccess
dc.publisher.programIngeniería Financieraspa
dc.type.spaArtículo
dc.identifier.doi10.22201/fca.24488410e.2022.2938
dc.relation.citationvolume67
dc.relation.citationissue3
dc.relation.citationstartpage162
dc.relation.citationendpage184
dc.publisher.facultyFacultad de Ingenieríasspa
dc.affiliationDenis, C.A.R., Universidad de Medellín, Colombia
dc.affiliationEstrada, U.Q., Corporación Universitaria Americana, Colombia
dc.affiliationGómez, L.F.M., Universidad de Medellín, Colombia
dc.affiliationSepúlveda-Aguirre, J., Corporación Universitaria Americana, Colombia
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dc.type.versioninfo:eu-repo/semantics/publishedVersion
dc.identifier.reponamereponame:Repositorio Institucional Universidad de Medellín
dc.identifier.repourlrepourl:https://repository.udem.edu.co/
dc.identifier.instnameinstname:Universidad de Medellín


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