Valuation of Companies in Mexico from 2006 to 2017 through capitalization value and economic value added
Purpose: To explain the relationship between the value of Mexican Stock Exchange companies (BMV) measured through the capitalization value and economic value added (EVA) methods, at a sector level, from 2006 to 2017.Methodological design: The EVA and capitalization value methods were applied in the...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2022 |
| País: | México |
| Institución: | UNIVERSIDAD NACIONAL AUTÓNOMA DE MÉXICO |
| Repositorio: | Entreciencias: diálogos en la sociedad del conocimiento |
| Idioma: | español |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/80937 |
| Acceso en línea: | https://revistas.unam.mx/index.php/entreciencias/article/view/80937 |
| Access Level: | acceso abierto |
| Palabra clave: | Firm value corporate finance corporate ownership financial economics. valor de la compañía finanzas corporativas propiedad corporativa economía financiera. |
| Sumario: | Purpose: To explain the relationship between the value of Mexican Stock Exchange companies (BMV) measured through the capitalization value and economic value added (EVA) methods, at a sector level, from 2006 to 2017.Methodological design: The EVA and capitalization value methods were applied in the period from 2006 to 2017, taking the companies listed on the Mexican Stock Exchange as the sample; a Pearson relationship correlation was then measured between both indicators.Results: No relationship was found between the company’s value measured through capitalization value and EVA during the studied time span. Capitalization value tends to rise while EVA shows a light downward trend.Research limitations: The number of companies in each sector is small with some sectors comprised by one company only.Findings: Since capitalization value shows a rising tendency while EVA’s decreases, it is affirmed that sample companies did not create value but rather they did increase their capitalization value, which suggest a boost to commercial operations of companies’ shares with no link to value creation. |
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