A DETERMINING SYSTEMIC FACTOR´S EVALUATION MODEL OF A COMPANY´S VALUE AND CAPITAL COST IN THE DEVELOPING AND EMERGING COUNTRIES / UM MODELO DE AVALIAÇÃO DOS FATORES SISTÊMICOS DETERMINANTES DO VALOR E CUSTO DE CAPITAL DE UMA EMPRESA NOS PAÍSES DESENVOLVIDOS E NOS EMERGENTES

AUTOR(ES)
DATA DE PUBLICAÇÃO

2006

RESUMO

The present study has the objective of understand the variables influencing positively or negatively the capital cost and the value of companies. Companies are inserted in an environment that exerts external forces, such as economic, fiscal and financial, social and institutional, legal or regulatory, international and technological. The understanding of systematical factors and the impact of those changes in the company have been one of the great challenges of the modern economy, giving to the biggest correlation between the macro and the micro economy. It is also presented a revision of national and international literature on the competitiveness of the nations and the methodologies more used for the calculation of the capital cost and valuation of assets. Therefore, the study was accomplished with the annual data of The World Competitiveness Yearbook produced by IMD (International Institute for Management Development) and an index provided by MSCI (Morgan Stanley Capital Index) with the market value of companies. The countries were separated by their development stage, such as emerging and developed countries. For this, it was used the statistical method known as Multiple Regression, as well as, some articles on this subject. Finally, the results will be displayed and the conclusions presented.

ASSUNTO(S)

avaliacao de empresas cost of capital custo de capital competitividade das nacoes evaluation of companies competitiveness of nations

ACESSO AO ARTIGO

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