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Guidelines for forecasting historical financial statements for valuation purposes
Velez-Pareja, Ignacio - MASTER CONSULTORES - 2008
students in the course Econ 195.96/295.96 (Crosslisted: PubPol 264.96): Cash Flow Valuation (CFV): A Basic Introduction to an …
Persistent link: https://www.econbiz.de/10010763014
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Analisis financiero y control (slides)
Velez-Pareja, Ignacio - MASTER CONSULTORES - 2009
Estas son slides de notas de clase (en .pdf) del tema Analisis Financiero y control que se encuentra ya en SSRN. En estos slides se explica detalladamente los diferentes ratios financieros usados frecuentemete en administracion financiera. Introducimos algunos ejemplos y los slides sirven para...
Persistent link: https://www.econbiz.de/10010763020
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Constant leverage modeling: A reply to "A tutorial to the Mckinsey model for valuation of companies"
Velez-Pareja, Ignacio; Tham, Joseph - MASTER CONSULTORES - 2008
In this note we analyze the tutorial based on the McKinsey methodology for valuing companies. We have found that the McKinsey methodology has one of the most common mistakes mentioned in Tham and Vélez-Pareja (2004a and b): valuing cash flows with a constant cost of capital when the leverage is...
Persistent link: https://www.econbiz.de/10010763009
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The tyranny of rounding errors: the mismatching of APV and the DCF in perpetuities in Brealey and Myers 6th and 7th edition of Principles of Corporate
Velez-Pareja, Ignacio; Tham, Joseph - MASTER CONSULTORES - 2007
In theory, different valuation methods, with consistent assumptions, must give identical results. Numerical examples … to show that rounding errors are not the reasons for the discrepancies.It is common to read that different valuation … valuation procedure for using the Discounted Cash Flow (DCF) method with the free cash flow (FCF) and the Adjusted Present Value …
Persistent link: https://www.econbiz.de/10010763052
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Timanco S.A : Unpaid Taxes, Losses Carried Forward, Foreign Debt, Presumptive Income and Adjustment for Inflation: Matching DCF and EVA©
Velez-Pareja, Ignacio - 2010
There are methods to match value added approaches (Residual Income Method, RIM and Economic Value Added, EVA) with discounted cash flow methods, DCF. In this note we use a real life case from an emerging country to illustrate the matching, with complexities such as unpaid taxes, losses carried...
Persistent link: https://www.econbiz.de/10013140033
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Dividendos "potenciales" versus pagados : razones teoricas y empiricas para usar dividendos pagados. Casos de America Latina y Argentina
Velez-Pareja, Ignacio; Merlo, Mariano; Londono, David Andres - MASTER CONSULTORES - 2008
Muchos consultores, autores y profesores de Finanzas incluyen los cambios en losactivos liquidos (dividendos potenciales") en los flujos de caja. Esta practica escontraria a la teoria basica de las finanzas. Presentamos razones economicas, teoricas, yempiricas para apoyar la tesis. Por lo tanto,...
Persistent link: https://www.econbiz.de/10010762913
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Potential dividends versus actual cash flows in firm valuation
Magni, Carlo Alberto; Velez-Pareja, Ignacio - MASTER CONSULTORES - 2009
valuation with potential dividends overstate the actual value of the firm´s equity. In particular, consistently with DeAngelo …
Persistent link: https://www.econbiz.de/10010762934
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Looking Forward Financial Ratio and Value Analysis (Valor de la firma y razones financieras para el análisis financiero)
Velez-Pareja, Ignacio - MASTER CONSULTORES - 2007
Usualmente los textos de finanzas presentan por lo menos un capítulo sobre análisis financiero, entendido como análisis de razones financieras. Se enseñan muchos cursos en análisis financiero y se gasta una enorme cantidad de tiempo en cómo calcular las razones financieras basados en...
Persistent link: https://www.econbiz.de/10010762968
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Analisis financiero y control
Velez-Pareja, Ignacio; Davila, Miguel R. - MASTER CONSULTORES - 2009
This is a teaching material for a module of Financial analysis at Universidad Tecnologica de Bolivar. The educational material was developed with Professor Ricardo Davila from Universidad Javeriana, Bogota, Colombia. The written material has been modified several times, but the basic content is...
Persistent link: https://www.econbiz.de/10010762978
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Pautas para el pronostico de los estados financieros a partir de estados financieros historicos para la valoracion
Velez-Pareja, Ignacio - MASTER CONSULTORES - 2008
En esta nota pedagógica presento algunas sugerencias e ideas que puede ser útil tener en cuenta cuando se trata de pronosticar estados financieros a partir de datos históricos. Las ideas que se presentan son el resultado de la experiencia de aconsejar a los estudiantes de licenciatura y de...
Persistent link: https://www.econbiz.de/10010762992