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La valoración de empresas asociativas agrarias: una aplicación de la metodología analógico-bursátil

Author

Listed:
  • José Miguel Sales Civera

    (Universidad Miguel Hernández de Elche)

Abstract

Co-operative companies, in contrast to limited companies, cannot be listed on the stock market, hence no mechanism such as the stock exchange rate exists to assign them a value, so that co-operative executives do not have an external mechanism judging their management. To correct this situation as far as possible the analogical-stock market valuation emerges as an alternative for agricultural companies, a methodology proposed by Caballer and Moya in 1997 and subsequently extended by the same authors in year 2000. In this study the dynamic methods of analogical-stock market valuation are applied to a group of APCs and agricultural co-operatives.

Suggested Citation

  • José Miguel Sales Civera, 2002. "La valoración de empresas asociativas agrarias: una aplicación de la metodología analógico-bursátil," CIRIEC-España, revista de economía pública, social y cooperativa, CIRIEC-España, issue 41, pages 213-234, August.
  • Handle: RePEc:cic:revcir:y:2002:i:41:p:213-234
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    More about this item

    Keywords

    Analogical-stock market valuation; Co-operatives; Agricultural Producer Companies; company management; dynamic valuation models.;

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • P13 - Economic Systems - - Capitalist Systems - - - Cooperative Enterprises
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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