Minimum rate of return of the owner-investor. The case of the family SME

Small Business International Review

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Field Value
 
Title Minimum rate of return of the owner-investor. The case of the family SME
Rendimiento mínimo del inversor-propietario. El caso de la empresa pyme familiar
 
Creator Rojo-Ramírez, Alfonso A.
 
Subject minimum rate of return
cost of capital
economic risk investor
family SME
G11
G17
G31
rentabilidad mínima
coste de capital
inversor económico de riesgo
PYME familiar
G11
G17
G31
 
Description The calculus of the minimum rate of return is a centerpiece of the business world that poses a considerable challenge in the case of owner-investors and professional who advise family’ SME companies. This work shows how to face this challenge by using the three components model (3CM) for unlisted companies. Specifically, it discusses how to add the specific risk of an owner-investor who concentrates a large part of his wealth in a single asset, as is the case of most SME companies. The article contributes both from a theoretical and practical point of view. In the first case, it offers an underexplored line of research. In the second case, it gives owner-investors and experts a tool to guide them in their investment decision-making.
El cálculo de la rentabilidad mínima es una pieza clave del mundo de los negocios que plantea un reto considerable a los inversores-propietarios y profesionales que asesoran las empresas pyme familiares. Este trabajo muestra cómo afrontar este reto mediante el uso del modelo de los tres componentes (3CM) para empresas no cotizadas. En concreto en él se argumenta sobre cómo agregar el riesgo específico de un inversor-propietario que concentra gran parte de su patrimonio en un solo activo (la empresa). El artículo contribuye tanto en el ámbito teórico como práctico. En el primero, ofrece una línea de investigación poco explorada en la actualidad. En el segundo, ofrece a los inversores-propietarios y a los expertos una herramienta que les servirá de guía en la toma de decisiones.
 
Publisher Spanish Accounting and Business Administration Association (AECA) and Universidad Politécnica de Cartagena (UPCT)
 
Date 2021-01-11
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
Artículos revisados por pares
 
Format application/pdf
text/xml
 
Identifier https://sbir.upct.es/index.php/sbir/article/view/287
10.26784/sbir.v5i1.287
 
Source Small Business International Review; Vol. 5 No. 1 (2021): January - June 2021; e287
Small Business International Review; Vol. 5 Núm. 1 (2021): Enero - Junio 2021; e287
2531-0046
 
Language spa
 
Relation https://sbir.upct.es/index.php/sbir/article/view/287/148
https://sbir.upct.es/index.php/sbir/article/view/287/147
 
Rights Copyright (c) 2021 Alfonso A. Rojo-Ramírez
https://creativecommons.org/licenses/by-nc-sa/4.0
 

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