Resumen

FERREIRA, Carlos Alberto  y  MILANESI, Gastón S.. Aplicación de la expansión de Edgeworth en la valuación de decisiones estratégicas mediante el enfoque de Opciones Reales en empresas de base tecnológica- Spin Off. Escr. Contab. Adm. [online]. 2012, vol.3, n.2, pp. 41-74. ISSN 1853-2055.

Technology-based companies, start-ups, spin-off, university or academic spin-off make up a group of companies whose main value arises from constant investments in research and development and the combination or synergy of a high knowledge level and possibilities of development and innovation in the areas of technological innovation, biotechnology, pharmaceuticals, etc. The application of traditional valuation methods or tools to such companies is not enough, it must be complemented with the real options approach that will incorporate the flexibility and uncertainty factors of this kind of projects.

Palabras llave : Firm Valuation; Technology-based Companies; Spin-off; Real Options.