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dc.contributor.authorMilanesi, Gastón S.-
dc.contributor.authorPesce, Gabriela-
dc.contributor.authorEl Alabi, Emilio-
dc.date.accessioned2018-07-06T21:08:07Z-
dc.date.available2018-07-06T21:08:07Z-
dc.date.issued2015-
dc.identifier.urihttp://repositoriodigital.uns.edu.ar/handle/123456789/4262-
dc.description.abstractThis paper proposes a fuzzy binomial valuation model to estimate leveraged firm value while conditioning its continuity or liquidation in cash flow generation after taxes to attend debt payments. It includes two triangular fuzzy variables. Thus, we incorporate ambiguity in the firm valuation process characterized by uncertainty in projections of both growth and financial costs. Our proposed model is presented, developed, and exemplified through a case results complement both the DCF (under the adjusted present value) and the traditional real option binomial method. This occurs because, in one hand, DCF method assumes decisions’ irreversibility and operating firms’ situation. On the other hand, traditional binomial model weakens previous restrictions but does not incorporate ambiguous variables in the analysis. Hence, fuzzy logic applied to option models allows us to complement probabilistic valuation approach working on a frame of possibilities.es
dc.formatapplication/pdfes
dc.format.extent21 pág.es
dc.language.isoenges
dc.publisherMacrothink Institute.es
dc.rightsAtribución – No Comercial – Sin Obra Derivada (BY-NC-ND) No se permite un uso comercial de la obra original ni la generación de obras derivadas. Esta licencia no es una licencia libre, y es la más cercana al derecho de autor tradicional.-
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/2.5/-
dc.subjectFirm valuationes
dc.subjectFuzzy sets,es
dc.subjectBinomial modeles
dc.subjectUncertaintyes
dc.subjectAdjust present valuees
dc.subjectDebt effectses
dc.titleContinuity or liquidation in situations of ambiguity: fuzzy binomial model to valuate leveraged firmses
dcterms.accessRightsinfo:eu-repo/semantics/openAccesses
dcterms.isPartOfResearch in Applied Economics. .Macrothink Institute. United States.es
uns.author.affiliationFil: Milanesi, Gastón S. Universidad Nacional del Sur. Departamento de Ciencias de la Administración. Argentina.es
uns.author.affiliationFil: Pesce, Gabriela. Universidad Nacional del Sur. Departamento de Ciencias de la Administración. Argentina.es
uns.author.affiliationFil: El Alabi. Universidad Nacional del Sur. Departamento de Ciencias de la Administración. Argentina.es
uns.type.OpenAirearticlees
uns.type.SNRDartículoes
uns.type.publicationVersioninfo:eu-repo/semantics/publishedVersiones
uns.bibliographicCitationMilanesi, G. S., Pesce, Gabriela, El Alabi, Emilio (2015). Continuity or liquidation in situations of ambiguity: fuzzy binomial model to valuate leveraged firms. Research in Applied Economics. vol. 7, no. 1, pp. 26-47. Disponible en: http://repositoriodigital.uns.edu.ar/handle/123456789/4262es
uns.identifier.issn1948-5433-
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