Valuación de empresas de Telecomunicaciones con parámetros operativos

J. Saldaña; M. Palomo; M. Blanco

doi:10.29105/rinn5.9-6

Authors

J. Saldaña Autonomous University of Nuevo León
M. Palomo Autonomous University of Nuevo León
M. Blanco Autonomous University of Nuevo León

DOI:

https://doi.org/10.29105/rinn5.9-6

Keywords:

Capita Asset Price, Financial Expectations, Operative Factors

Abstract

The value of telecommunication companies measured in terms of their stock value, may be explained not only by their historical financial results and their financial expectations, but also by the evaluation of other operative factors such as: technological change, organizational change, market strategy, acquisition cost, customers portfolio, fusions and institutional changes (regulations). Due to the importance of the telecommunication sector in the stock market, as well as in the national economy, an analysis which improves its knowledge and allows a better valuation of these companies is required. Models for asset pricing CAPM (Capital Asset Price Model) and APT (Arbitrage Price Theory) have been developed and proved outside national context, besides, according to theory; their effectiveness for determining stock price depends on the stock market efficiency

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