Please use this identifier to cite or link to this item:
bibliotecadigital.pre.economia.gov.br/handle/123456789/528161
Title: | Uma análise da relação entre a metodologia do BNDES para avaliação de capitais intangíveis e o valor de mercado das empresas avaliadas |
Authors: | Cervieri Junior, Osmar |
Keywords: | Banco Nacional de Desenvolvimento Econômico e Social (Brasil) Brazilian Development Bank Metodologia de Avaliação de Empresas Enterprise Evaluation Methodology Bens incorpóreos - Avaliação Intangible property - Valuation Empresas - Avaliação Business enterprises - Valuation Modelos econométricos - Avaliação Econometric models - Valuation |
Issue Date: | Jun-2021 |
Publisher: | Banco Nacional de Desenvolvimento Econômico e Social |
Abstract: | The main objective of the current research is to investigate the relationship between the results obtained by Enterprise Evaluation Methodology (MAE), a BNDES tool for measuring companies’ intangible capitals, and the respective market values of evaluated firms. The proposed econometric model uses MAE’s database for the explanatory variables and the Tobin’s median Q for the dependent variable. The results revealed that the regressors of intangible capitals related to innovation and socioenvironmental responsibility show positive sign (as expected), while the regressor related to market structure shows negative sign, which suggests possible bias to be corrected in the methodology. Besides contributing to MAE’s assessment, the present work offers the possibility to relate important qualitative aspects of firms to market value, using Tobin’s q theory, with new approaches to proxies of the q variable. |
URI: | http://bibliotecadigital.economia.gov.br/handle/123456789/528161 |
Other Identifiers: | CERVIERI JÚNIOR, Osmar; OLIVEIRA, Fernando Nascimento de. Uma análise da relação entre a metodologia do BNDES para avaliação de capitais intangíveis e o valor de mercado das empresas avaliadas = An analysis of the relationship between the BNDES’s methodology for intangible capital valuation and the market value of the evaluated firms. Revista do BNDES, Rio de Janeiro, v. 28, n. 55 , p. [9]-86, jun. 2021 http://web.bndes.gov.br/bib/jspui/handle/1408/21623 |
Appears in Collections: | Produção BNDES - Artigos |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.