Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor
When the returns generated by the assets of a company (return on assets) is greater than the cost of the resources provided by third parties (liabilities), an effect of financial leverage that allows returns for owners of the company (heritage ) are higher as you grow that level of indebtedness. How...
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UNIVERSIDAD ANTONIO NARIÑO
2012
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| Online Access: | https://revistas.uan.edu.co/index.php/ingeuan/article/view/199 |
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| author | Aguirre Gómez, Fernando Augusto |
| author_facet | Aguirre Gómez, Fernando Augusto |
| author_sort | Aguirre Gómez, Fernando Augusto |
| collection | OJS |
| description | When the returns generated by the assets of a company (return on assets) is greater than the cost of the resources provided by third parties (liabilities), an effect of financial leverage that allows returns for owners of the company (heritage ) are higher as you grow that level of indebtedness. However, as the calculation of profitability is subject to different levels of utility and the calculation of the latter is not considered the cost of capital to shareholders, these indicators do not actually receive if the company is generating value or not. The methodology of the Economic Value-Added -EVA- is a technique that may resolve this problem, because it compares the performance that is capable of creating a company with the cost of the resources that allowed him to achieve that outcome and is based on the resources employed by a business must produce a return higher than their cost, if not, it’s best to move the resources used for other activities. |
| format | Digital |
| id | revistas.uan.edu.co-article-199 |
| institution | Revista INGE@UAN |
| language | spa |
| publishDate | 2012 |
| publisher | UNIVERSIDAD ANTONIO NARIÑO |
| record_format | ojs |
| spelling | revistas.uan.edu.co-article-1992021-02-16T16:46:42Z Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor Aguirre Gómez, Fernando Augusto Apalancamiento financiero Rentabilidad de los activos Rentabilidad del patrimonio Costo de capital Valor económico agregado Utilidad neta Financial leverage profitability of the assets profitability of the patrimony capital cost economic added value and clear uselfulness When the returns generated by the assets of a company (return on assets) is greater than the cost of the resources provided by third parties (liabilities), an effect of financial leverage that allows returns for owners of the company (heritage ) are higher as you grow that level of indebtedness. However, as the calculation of profitability is subject to different levels of utility and the calculation of the latter is not considered the cost of capital to shareholders, these indicators do not actually receive if the company is generating value or not. The methodology of the Economic Value-Added -EVA- is a technique that may resolve this problem, because it compares the performance that is capable of creating a company with the cost of the resources that allowed him to achieve that outcome and is based on the resources employed by a business must produce a return higher than their cost, if not, it’s best to move the resources used for other activities. Cuando la rentabilidad producida por los activos de una empresa (Rentabilidad de los activos) es mayor al costo de los recursos aportados por terceros (pasivos), se genera un efecto de apalancamiento financiero que permite que los rendimientos para los dueños de la empresa (Patrimonio) sean mayores a medida que crece dicho nivel de endeudamiento. Sin embargo, como el cálculo de la rentabilidad se encuentra supeditada a los diferentes niveles de utilidad y para el cálculo de esta última no se considera el costo de capital de los accionistas, estos indicadores no permiten percibir si la empresa realmente está generando valor ó no. La metodología del Valor Económico Agregado -EVA- es una técnica que permite solucionar este problema, debido a que compara la rentabilidad que es capaz de generar una empresa con el costo de los recursos que le permiten alcanzar dicho resultado y se fundamenta en que los recursos empleados por una actividad económica deben producir una rentabilidad superior a su costo. De no ser así, es mejor trasladar los recursos utilizados a otra actividad. UNIVERSIDAD ANTONIO NARIÑO 2012-10-25 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.uan.edu.co/index.php/ingeuan/article/view/199 INGE@UAN - TENDENCIAS EN LA INGENIERÍA; Vol. 1 Núm. 1 (2009) 2346-1446 2145-0935 spa https://revistas.uan.edu.co/index.php/ingeuan/article/view/199/162 https://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | Apalancamiento financiero Rentabilidad de los activos Rentabilidad del patrimonio Costo de capital Valor económico agregado Utilidad neta Financial leverage profitability of the assets profitability of the patrimony capital cost economic added value and clear uselfulness Aguirre Gómez, Fernando Augusto Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor |
| title | Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor |
| title_full | Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor |
| title_fullStr | Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor |
| title_full_unstemmed | Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor |
| title_short | Apalancamiento financiero, su efecto sobre la rentabilidad y la generación de valor |
| title_sort | apalancamiento financiero su efecto sobre la rentabilidad y la generacion de valor |
| topic | Apalancamiento financiero Rentabilidad de los activos Rentabilidad del patrimonio Costo de capital Valor económico agregado Utilidad neta Financial leverage profitability of the assets profitability of the patrimony capital cost economic added value and clear uselfulness |
| topic_facet | Apalancamiento financiero Rentabilidad de los activos Rentabilidad del patrimonio Costo de capital Valor económico agregado Utilidad neta Financial leverage profitability of the assets profitability of the patrimony capital cost economic added value and clear uselfulness |
| url | https://revistas.uan.edu.co/index.php/ingeuan/article/view/199 |
| work_keys_str_mv | AT aguirregomezfernandoaugusto apalancamientofinancierosuefectosobrelarentabilidadylageneraciondevalor |
