2026-04-18T00:30:22Zhttps://recercat.cat/oai/requestoai:recercat.cat:2445/1958032025-12-05T10:41:41Zcom_2072_1057col_2072_478811col_2072_478917
RECERCAT
author
Rodríguez-Valencia, Leslie
author
Lamothe-Fernández, Prosper
author
Alaminos Aguilera, David
2023-03-22T10:44:14Z2023-03-22T10:44:14Z2023-03-012023-03-22T10:44:14Z
This study aims to compare the market value of private firms and publicly listed small and medium-sized firms (SMEs) in alternative stock markets through a private discount approach with estimates of value based on discounted cash flow projections and along with a comparable multiples approach. The valuation methodology applied in this study yielded a final sample that included 232 observations between public and private companies in the Spanish market. To calculate the discount, we apply the different approaches of discounted cash flow and multiples, such as valuation, earnings, book value, and revenue. Our results conclude there is no private discount, instead, the outcomes of this article suggest a premium over public firms for some ratios (...)
(c) Springer-Verlag, 2023 info:eu-repo/semantics/openAccess
Petita i mitjana empresa
Empreses
Valor (Economia)
Finançament de l'empresa
Small business
Business enterprises
Value (Economics)
Business finance
The market value of SMEs: a comparative study between private and listed firms in alternative stock markets
info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion