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Factores que influyen en el descuento del precio de adquisición de empresas no cotizadas en el Reino Unido

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Abstract

Dentro del tema de la adquisición de empresas esta investigación aborda el estudio del descuento que se aplica en el precio de adquisición de empresas cuando éstas no cotizan en el mercado de capitales. La estimación de nuestro modelo utilizando una muestra de empresas no cotizadas que han sido adquiridas entre los años 1998 a 2008 en el Reino Unido nos permite señalar que los problemas de liquidez que enfrentan las empresas no cotizadas son determinantes para definir el descuento. Adicionalmente, nosotros también verificamos otros factores que podrían influir en el descuento, como son los relacionados con la calidad de los estados financieros de las empresas no cotizadas y la información asimétrica, sin embargo estos resultan ser no significativos.

Suggested Citation

  • Bolívar Gacitúa, Claudio Marcelo & Lozano García, María Belén, 2009. "Factores que influyen en el descuento del precio de adquisición de empresas no cotizadas en el Reino Unido," Working Papers "New Trends on Business Administration". Documentos de Trabajo "Nuevas Tendencias en Dirección de Empresas". 2009-06, Interuniversity Research Master and Doctorate Program (with a quality mention of ANECA) on "Business Economics", Universities of Valladolid, Burgos, Salamanca and León (Spain). Until 2008, Interuniversity Doctorate Program (with a quality mention of ANECA) “New trends in Business Administration”, Universities of Valladolid, Burgos, and Salamanca (Spain). Master en Investigación y Programa de Docto.
    • Handle: RePEc:ntd:wpaper:2009-06
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    Keywords

    Adquisiciones; empresas no cotizadas; descuento; factores; Reino Unido.;
    All these keywords.

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