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Authors
Abstract(s)
O estudo tem como objetivo uma avaliação financeira focada nas empresas tecnológicas, utilizando o modelo EVA (economic value added) comparando com outros modelos possíveis de avaliação de maneira a ter um entendimento mais viável. A avaliação em outros tempos era realizada horizontalmente, não acontecendo nos dias de hoje que se tem atenção à variação do produto ao longo do tempo, ou seja na concretização de um balanço.
Para uma avaliação financeira têm-se como base os fluxos de caixa operacional quanto ao mercado, os custos e os investimentos que são variáveis e que apresentam um papel determinante na sua definição para a evolução que caracterizam estes mesmos fluxos que impingem grande relevância numa avaliação.
O economic value added, ou seja, o EVA é concretizado, ou por outras palavras há criação de valor, se a atividade desenvolvida se verificar com um resultado superior ao custo do capital investido pela empresa.
Metodologicamente, conforme a atualidade são analisados alguns dados sobre ideias de autores estudados que servem de apoio nessa avaliação do estudo realizado, sendo avaliados os dados da empresa Vodafone e Primavera, sendo a Primavera das maiores do seu ramo em Portugal e a Vodafone a multinacional mundialmente conhecida, que segundo os seus relatórios de contas publicados, neste estudo deu a oportunidade de ser possível a avaliação das empresas e entender a viabilidade do EVA sobre a comparação de outros indicadores, tratando-se este trabalho de um estudo de caso sobre uma metodologia qualitativa.
The study aims at a financial evaluation focused on technology companies, using the EVA (economic value added) model, comparing with other possible evaluation models in order to have a more viable feedback. The evaluation in other times was carried out horizontally, not happening nowadays that attention is paid to the variation of the product over time, that is, in the realization of a balance. A financial valuation is based on the operating cash flows in relation to the market, the costs and investments that are variable and that play a determining role in its definition for the evolution that characterize these same flows that impose great relevance in an valuation. The economic value added, that is, the EVA, is achieved, or in other words there is value creation, if the activity developed is verified with a result higher than the cost of capital invested by the company. Methodologically, according to the current situation, some data on the ideas of the studied authors that support this evaluation of the study are analyzed, with data from the company Vodafone and Primavera being evaluated, Primavera is one of the largest in its field in Portugal and Vodafone the world-renowned multinational, which according to their published accounts reports, in this study gave the opportunity to be possible to evaluate companies and understand the feasibility of EVA over the comparison of other indicators, this work is about a case study on a qualitative methodology.
The study aims at a financial evaluation focused on technology companies, using the EVA (economic value added) model, comparing with other possible evaluation models in order to have a more viable feedback. The evaluation in other times was carried out horizontally, not happening nowadays that attention is paid to the variation of the product over time, that is, in the realization of a balance. A financial valuation is based on the operating cash flows in relation to the market, the costs and investments that are variable and that play a determining role in its definition for the evolution that characterize these same flows that impose great relevance in an valuation. The economic value added, that is, the EVA, is achieved, or in other words there is value creation, if the activity developed is verified with a result higher than the cost of capital invested by the company. Methodologically, according to the current situation, some data on the ideas of the studied authors that support this evaluation of the study are analyzed, with data from the company Vodafone and Primavera being evaluated, Primavera is one of the largest in its field in Portugal and Vodafone the world-renowned multinational, which according to their published accounts reports, in this study gave the opportunity to be possible to evaluate companies and understand the feasibility of EVA over the comparison of other indicators, this work is about a case study on a qualitative methodology.
Description
Keywords
Avaliação financeira EVA Empresas tecnológicas Criação de valor Financial evaluation Value creation Technological companies