TY  - JOUR 
TI  - El modelo binomial, ahorros fiscales y valor ajustado de la firma por escenarios de continuidad o disolución
PB  - Universidad Icesi
PY  - 2019
issn 0123-5923
AB  - The traditional version of the discounted cash flow model does not include contingent values of tax savings and the scenarios of continuity
or dissolution that the firm faces. Based on the real options theory, this paper develops a binomial valuation model that includes
the contingent treatment for tax savings and the continuity or dissolution scenarios, conditioned by the level of indebtedness. In order
to accomplish this, the methodological approach of case study was used, exposing functional relationships and advantages concerning
the discounted cash flow. The results indicate that the value of the firm is adjusted to an exponential-type function. The current value
obtained resumes contingent tax savings and dissolution or continuity scenarios.
KW  - Flujo de fondos
KW  - Liquidación
KW  - Modelo binomial
KW  - Ahorros
KW  - Costos de capital
UR  - http://repository.icesi.edu.co/biblioteca_digital/handle/10906/84610
ER  -