Method
Tipo
Capítulo de livro
Data de publicação
2017
Periódico
Accounting, Finance, Sustainability, Governance and Fraud
Citações (Scopus)
0
Autores
Matias Gama A.P.
Segura L.C.
Milani Filho M.A.F.
Segura L.C.
Milani Filho M.A.F.
Orientador
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ISSN da Revista
Título de Volume
Membros da banca
Programa
Resumo
© 2017, Springer Nature Singapore Pte Ltd.This chapter analyses the phenomenon of “positive valuation of losses” in companies of the new economy in the US. We start by analysing the life-cycle effect of those companies. Because the value of a company is a function of the value of the current assets and the net present value of future growth opportunities, we examine the pattern of the evolution of the variables investments in total assets, R&D and advertising over sales and/or debt in the short and medium to long term. We also include in the analysis the ratio market to book value (MVE/BVE). Based on the trend analysis, we conclude that the main source of value of net firms and the non-net firms (match sample), still belong to the future growth opportunities held by these companies.