Análisis de la creación de valor en las empresas del índice Eurostoxx-50
- Carmona Vega, Esther Guadalupe
- Mascareñas Pérez-Iñigo, Juan Manuel
ISSN: 1139-5796
Year of publication: 2012
Issue: 17
Pages: 59-73
Type: Article
More publications in: RUE: Revista universitaria europea
Abstract
In this paper we analyze the value creation of the companies that make up the index Eurostoxx-50 by creating a matrix that reflects the value of business growth. Following this aim, the market price of the companies analyzed is broken down in two parts, which reflect the value generated by their assets at present, and the present value of growth opportunities; both are normalized by price-to-book ratio to perform comparisons. The results are expressed in a matrix divided into four areas that indicate how is creating (or destroying) value of each one of the companies. Finally, a comparison is made of the results shown for a paper published twelve years before and that used the same methodology.