QUESTÕES PARA AVALIAÇÃO DE EMPRESAS NA NOVA ECONOMIA

Abstract

The text presents a few important issues on the process of evaluating companies of the new economy. The work concentrates on determining how four commonly used valuation methods — discounted cash flow, residual profit, multiple and market value — are able to answer the following questions: does a company need profit?; how can the transaction cost affect the valuation of a company?; what is the role of distribution cost?; did the investment in technology increase productivity in companies?; where is gain going?; will the level of risk be affected?; is profit still the most relevant tool to evaluate the performance of a company?; and, what if the WACC is more elevated? In other words, the paper directs the discussion to whether the existing valuation methods are adequate to companies of the new economy.