Empresas de base tecnológica y teoría de opciones reales: el modelo de los flujos fondos borrosos
DOI:
https://doi.org/10.18270/cuaderlam.v10i18.587Keywords:
Empresas de base tecnológica, Teoría de opciones reales, Flujo de fondos borrosos (FFB)Abstract
Artículo de investigaciónLas principales características del valor de las empresas de base tecnológica (EBT) son: la flexibilidad estratégica y ambigüedad. La Teoría de Opciones Reales es la herramienta para valorar la flexibilidad mencionada. Los modelos pueden ser probabilísticos o borrosos, estos últimos se adaptan mejor a la falta de información y a las decisiones empresariales en condiciones de ambigüedad. Para valorar EBT se desarrolla el método de los Flujos de Fondos Borrosos (FFB); (Fuzzy Pay-Off Method, FPOM). La estructura del trabajo es la siguiente: primero se presentan los desafíos en la valoración de EBT y los diferentes modelos en la Teoría de Opciones Reales: continuos, discretos y borrosos.
Finalmente se desarrolla el modelo FFB y un caso de aplicación
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