Abstract

MASILO, Andrés Esteban. Valuation model, from the DCF model, for listed companies in the stock exchange market of Argentina, focused to the period of financial crisis 2001-2002. Investig. adm. [online]. 2013, vol.42, n.111, pp.35-47. ISSN 2448-7678.

The topic of this article is the valuation of companies in periods of financial crises and its objective the construction of a valuation model, based on the DCF methodology, for valuing companies from the Argentine financial market during the period of financial crisis 2001-2002. The article is a summary of the doctoral thesis of Masilo (2012) and includes the introduction, the research methodology, a description and testing of the traditional DCF model with Argentine financial market firms, the construction and testing of the valuation model for periods of financial crisis, and the conclusion. The research methodology used was the hypothetical-deductive and the research was descriptive, explanatory and quasi-experimental. We analyzed the absolute and relative variations and the dispersions of the values calculated with the different models. The results showed that the proposed model for periods of financial crisis, achieved lower dispersion values ?than those obtained with the traditional model.

Keywords : value; valuation; business valuation; Argentinian financial market.