Opciones reales en la valoración de intangiblesla percepción de los directivos en el País Vasco
- Silva, Emilio José de Castro (coord.)
- Díaz de Castro, Francisco José (coord.)
Publisher: Asociación Española de Dirección y Economía de la Empresa (AEDEM)
ISBN: 978-84-691-5667-4
Year of publication: 2008
Pages: 191-208
Congress: Asociación Europea de Dirección y Economía de Empresa. International Conference AEDEM (17. 2008. Salvador de Bahía)
Type: Conference paper
Abstract
This paper aims to investigate if the Basque Country companies� considers real options in managing their intangibles and to verify the applicability of the financial valuation method proposed by Rodríguez-Castellanos et al. (2006a, 2007) to value intangibles� real options dimension. To get the objectives, a field study has been done with 517 telephone survey to the Basque Country companies� financial managers. The results show that despite three out of every four companies consider that there are options embedded in their intangibles, less than one out of four is able to identify the options. Adding the companies� difficulties to estimate the parameters needed to apply the model, we conclude that the intangibles� financial valuation includes options in less of the 10% of the companies.