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Avaliação de empresas de capital fechado – estudo da Beepenger, Lda.
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Resumo(s)
O presente Relatório de Projeto, tem por base o estudo de caso de uma entidade empresarial
de capital fechado, usando o método de avaliação de Fluxos de Caixa Descontados. O
processo de avaliação é de extrema importância, não só com o objetivo de fusão e aquisição
empresarial, mas no caso da entidade escolhida e pela autora com o objetivo máximo de
auxílio à gestão com foco na tomada de decisões estratégicas, tendo por base a saúde
empresarial da entidade e os seus objetivos no curto, médio e longo prazo. A entidade a
avaliar é considerada uma pequena entidade de capital fechado, e assim sendo, a literatura
existente que se foque nas particularidades de uma PME de capital fechado não é notória;
dado este facto, foi decidido realizar esta avaliação pelo método dos cash flows descontados,
sendo este método mais abrangente às condicionantes deste tipo de entidade. Denotam-se as
elevadas dificuldades sentidas pela autora na redação deste projeto dado o facto da entidade
a escolher a Beepenger, Lda. ser uma empresa com pouca idade no mercado e estar mais
focada no plano operacional do que estratégico, não sendo possível o acesso às diretrizes
estratégicas e demais documentação formal.
The present thesis is based on a case study of a privately held company, using the Discounted Cash Flow valuation method. The valuation process is of high importance not only in the context of mergers and acquisitions, but, in the case of the selected entity, and from the author’s perspective, primarily as a management support tool, focused on strategic decision making based on the company’s financial health and its short, medium, and long-term objectives. The entity under analysis is considered a small privately held company, and the existing literature focusing on the specific characteristics of Smal, Medium Enterprises of this nature is relatively limited. In this context, the discounted cash flow method was chosen as it provides a more comprehensive approach and is better suited to the constraints of this type of entity. However, significant difficulties were encountered in the development of this project, since the selected company, Beepenger, Lda., is a young organization with a strong operational focus rather than a strategic one. This limited access to formal strategic planning instruments and properly structured administrative documentation.
The present thesis is based on a case study of a privately held company, using the Discounted Cash Flow valuation method. The valuation process is of high importance not only in the context of mergers and acquisitions, but, in the case of the selected entity, and from the author’s perspective, primarily as a management support tool, focused on strategic decision making based on the company’s financial health and its short, medium, and long-term objectives. The entity under analysis is considered a small privately held company, and the existing literature focusing on the specific characteristics of Smal, Medium Enterprises of this nature is relatively limited. In this context, the discounted cash flow method was chosen as it provides a more comprehensive approach and is better suited to the constraints of this type of entity. However, significant difficulties were encountered in the development of this project, since the selected company, Beepenger, Lda., is a young organization with a strong operational focus rather than a strategic one. This limited access to formal strategic planning instruments and properly structured administrative documentation.
Descrição
Palavras-chave
Avaliação de PME Método de fluxos de caixa descontados Empresa de capital fechado