Métodos de avaliação de empresas e o balanço de determinação.
DOI:
https://doi.org/10.20946/rad.v6i1.686Abstract
O presente artigo apresenta um estudo sobre métodos de avaliação de empresas, abordando, segundo a literatura de finanças, as principais metodologias, com ênfase no processo de avaliação através do fluxo de caixa descontado, prática esta muito difundida no ambiente empresarial. Em seguida, é apresentado e analisado criticamente face às teorias de finanças, o Balanço de Determinação, que, conforme jurisprudência, tem sido adotado pelos magistrados brasileiros como metodologia de avaliação de empresas e apuração de haveres em processos de cisão e dissolução parcial de sociedades limitadas e sociedades anônimas de capital fechado. Palavras-chave: Avaliação de empresas; fluxo de caixa; balanço de determinação. Abstract: This article presents a study of the main methods of valuing companies, as set forth in the literature, with a special emphasis on discounted cash flow analysis, a widespread practice in the corporate world. The approach known as Special Balance Sheet Analysis is then presented and critically analyzed according to financial theories. In accordance with jurisprudence, this has been adopted by Brazilian magistrates as a method of analyzing and valuing companies and their assets in split-ups and partial dissolution of private limited companies and closed joint-stock companies. Keywords: Valuation, cash flow, special balance sheet analysis.Metrics
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